
This coin positions itself as one of the most anonymous cryptocurrencies. It is based on the CryptoNote protocol, which provides a high level of anonymity for each transaction.
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Monero appeared in 2014 as a result of a fork of Bytecoin. Initially, seven developers participated in the creation of Monero, five of whom decided to remain anonymous. There were rumors that XMR was also invented by Satoshi Nakamoto, the founder of Bitcoin.
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Open source coin. Its emission is not limited. Mining takes place on the principle of PoW - proof of work, like Bitcoin.
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☝️Privacy is achieved as follows. To prevent transactions from being linked to each other, hidden addresses are created for each individual transaction and are only used once.
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By default, information about senders, recipients, and the amount of the transferred cryptocurrency is hidden - this gives an advantage over competing privacy coins such as Zcash, which are "selectively transparent".
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The project is developing and has high simetri ratings. The risks include the fact that XMR is increasingly being used for illegal transactions instead of bitcoin, especially in darknet markets. Governments around the world, especially the US, have also offered hundreds of thousands of dollars to anyone who can crack the Monero code.
