Monero was launched in 2014 and was originally called BitMonero. It was a hard fork. It is also said that it was split from Bytecoin (BCN) launched in 2012. The founder is an anonymous member of the Bytecoin community. The user name is thankful_for_today. After the community opposed the “controversial” modification of altcoin, the fork was created. Several anonymous developers participated in the creation of Monero, and there are rumors that it was created by Satoshi Nakamoto, who invented Bitcoin (BTC). Since its launch, developers have made several major improvements to Monero. They have migrated the blockchain to a different database structure to increase its flexibility and efficiency. They also set a minimum ring signature size-the number of people authorized to digitally sign a transaction, a bit like the signers of a joint bank account.
Introduction to Monero
Monero is based on the principles of security, privacy and decentralization. According to its website: "Monero's development goals are privacy and safety first, and ease of use and efficiency second." The identities of parties involved in bitcoin transactions can be traced because the blockchain is open and transparent, and Monero uses advanced cryptography to mask the identities of senders and receivers.
The original protocol used by Monero is based on CryptoNote, which uses ring signatures and one-time keys to obscure the source and destination of transactions on the blockchain. The developer implemented RingCT in January 2017 to hide the transaction amount. This introduces a new type of ring signature, the "Multilayer Linkable Spontaneous Anonymous Group" (MLSAG) signature, which effectively hides the details of the transaction and is generated using verifiable and untrusted coins.
XMR is a currency that runs on the Monero blockchain. XMR uses the proof-of-work algorithm that Bitcoin mining is based on for mining. But it uses so-called "smart mining", in which case miners increase network security by letting a large number of people run it. There are a range of different sources that increase the hash rate and maintain the decentralized nature of the network. Smart mining machines can realize transparent CPU mining on individual users' computers, instead of encouraging the use of large mining farms and mining pools, which actually creates centralization.
Between April 2020 and April 2021, according to scarce public data on the blockchain, there were more than 5.8 million transactions using monero coins, with an average of 16,000 transactions per day, according to data from its website. This is an increase from the total transaction volume of around 2.8 million between April 2019 and April 2020, which is an average of 7,700 transactions per day.
XMR coins are accepted as a payment method by a range of stores, including Australian hardware wallet retailer bitgear, yoga accessories retailer YogiWay, and clothing retailer Z1 Fashion. It is also used by payment gateways including CryptAPI, CoinPayments and NOWPayments, and has a Monero extension for the WooCommerce plugin for online retailers.
The superiority of Monero
Monero provides true fungibility
For those who don't know, the feature of replaceable assets is that its units can be exchanged and replaced. Since there is no traceable transaction or history-this means that these types of digital currencies are completely interchangeable. You are your own bank and you will be responsible for keeping your own keys. In addition, there is no way to track Monero transactions in history – or link them together. This also means that any previous activities will not affect its value-because they are unknown.
Monero provides a high degree of anonymity
One of the biggest goals of the team behind Monero is to enable your ordinary investors to trade anonymously-with a great emphasis on privacy. Bitcoin is more transparent, so although it is safe, if you want to find the identity of the original source, the payment can be traced. On the other hand, XMR coins use complex cryptography to conceal the sender's personal information -privacy is guaranteed.
Monero provides unlimited scalability
Mainly because of the above-mentioned functions and characteristics, people believe that this special cryptocurrency has unlimited scalability, and every transaction conducted with XMR coins has new and unique data related to it.
Monero's official dark web V3 domain name
Monero's official website is: Getmonero.org , which launched onion mirrors for its main site(getmonero.org) and download subsites (downloads.getmonero.org) at the beginning of this year . This means that Tor Browser users can directly access Getmonero and download content without having to log out of the Tor network!
The dark web V3 domain name of the main site(Getmonero.org):
http://monerotoruzizulg5ttgat2emf4d6fbmiea25detrmmy7erypseyteyd.onion
The dark web V3 domain name of the download subdomain(Downloads.getmonero.org):
http://dlmonerotqz47bjuthtko2k7ik2ths4w2rmboddyxw4tz4adebsmijid.onion
Getmonero also activates the location-related function of onion routing. People who browse getmonero.org from the Tor browser will receive a prompt about the existence of the onion address, and can get its onion address with a single click.
The file containing the onion address signed by binaryFate (the core team) can be found at getmonero.org/onion.txt and Github .