Monero मूल्य

Monero data

Many inexperienced users mistakenly think that all cryptocurrencies are anonymous, but in fact, there are not many anonymous digital currencies. One such coin is Monero (XMR). What is Monero? Monero is a digital coin and a global payment system running on blockchain technology. The key feature of this coin is a unique ring signature algorithm providing the opportunity for anonymous transactions. The name of this currency is an Esperanto translation of the word "coin". Monero working principle In order to understand the principle of Monero, you need to possess at least basic knowledge of blockchain technology: what is a hash sum, transaction, ring signatures, cryptonote protocol, etc. So, let's make a brief and clear analysis of the Monero cryptocurrency work principle. Monero payment system makes it possible to do XMR coin transactions within the network. As known, a chain of blocks is arranged in such a way that the data about previous coin transfers (hash amount) is stored directly in the transactions. Due to this, it is impossible to make a change in the block without affecting other elements in the chain. A full copy of the database (blockchain) is stored by each network member. Understanding of the ring digital signature algorithm work helps to understand how anonymity is achieved. For comparison, transactions on the Bitcoin network have identifiers, if to analyze them, it is possible to see the movement of coins (from whom and to whom they were sent). The developers of the Monero payment system decided to use one-time addresses, which help hide the final recipient. The system works in such a way that the user receives several “outputs” of the transaction at once, but he cannot find out which one was used. In other words, such transactions are connected with several other financial transactions at once. When carrying out transactions, users can independently choose the number of connections - the more they choose, the harder it is to track the transaction. Technical Information on Monero - block size not less than 1 Mb; - SHA-3 hashing algorithm; - hash functions - Grøstl, JH, BLAKE, and Skein; - AES instruction system compatibility for x86 microprocessors; - the ability to carry out x86-64 multiplication operations. Mining XMR Monero network works on the PoW consensus protocol, like Bitcoin and many other cryptocurrencies. This means that XMR mining needs specific equipment. The speed of finding the block is fixed and this happens once every two minutes. The miner who solves the equation gets 3.42 XMR. The total issue of coins is 18.4 million. Note, that after the miners get all the coins, the issue will not end and users will continue to receive a reward of 0.6 XMR per block. The developers took this step to prevent problems like in Bytecoin and other digital coins based on the CryptoNote protocol. Monero statistics on the Neironix platform The project ranks 13th in the global cryptocurrency rating, the XMR rate is $59, and the total capitalization is $1.022 billion, as of the time of writing. The Neironix.io website provides detailed information about the Monero cryptocurrency: - current rate and capitalization of XRM; - price changes for a day, week, month, year, or all time; - the latest news on Monero; The Neironix platform provides all the necessary information for investors. Warning! The Neironix platform disclaims any responsibility for your possible financial losses due to the use of this information. Neironix specialists do not give any financial advice, but only provide up-to-date information on cryptocurrency projects.