Exclusive Insights: The #Rise of #Monero - The 👑 #King of #Privacy_Coins!
Aug 3, 2024 #XMR #monero #moneronews
OUTLINE:
00:00:00 Introduction
00:00:18 The Unique Privacy of Monero
00:00:40 Monero's Launch and Technology
00:01:04 Growth and Community Support
00:01:23 The Demand for Financial Privacy
00:01:34 Monero's Future
00:01:54 Conclusion
00:02:07 Outro
#Monero (/məˈnɛroʊ/; Abbreviation: #XMR) is a #cryptocurrency which uses a #blockchain with #privacy_enhancing_technologies to obfuscate transactions to achieve #anonymity and #fungibility. Observers cannot decipher #addresses trading Monero, transaction #amounts, address #balances, or transaction #histories.
The protocol is #open_source and based on #CryptoNote_v2, a concept described in a 2013 white paper authored by Nicolas van Saberhagen. Developers used this concept to design Monero, and deployed its mainnet in 2014.
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The #Monero protocol includes various methods to obfuscate transaction details, though users can optionally share view keys for third-party auditing. Transactions are validated through a miner network running RandomX, a proof-of-work algorithm. The algorithm issues new coins to miners and was designed to be #resistant against #application_specific_integrated_circuit (ASIC) mining.
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