Author Topic: What Is Monero? (Read 1085 times)

riponsumo · « **on:** June 18, 2018, 10:53:55 AM »

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What Is Monero?

Launched in 2014, Monero (XMR) is an open-source, privacy-oriented cryptocurrency that is built and operates on the blockchain concept. These blockchains, which form the underlying technology behind digital currencies, are public ledgers of participants' activities that show all the transactions on the network.

Monero's blockchain is intentionally configured to be opaque. It makes transaction details – like the identity of senders and recipients, and the amount of every transaction - anonymous by disguising the addresses used by participants.

Altcoins Talks - Cryptocurrency Forum · « **on:** June 18, 2018, 10:53:55 AM »

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riponsumo · « **Reply #1 on:** June 18, 2018, 10:56:46 AM »

Along with anonymity, the mining process for monero is based on an egalitarian concept - the principle that all people are equal and deserve equal opportunities. When launching monero, its developers did not keep any stake for themselves, and banked on contributions and community support to further develop the virtual currency.

Monero supports a mining process where individuals get rewarded for their activities by joining mining pools, or they can mine moneros individually. Monero mining can be performed on a standard computer, and does not need any specific hardware such as the application-specific integrated circuits (ASICs).

Monero runs on all leading OS platforms, including Windows, macOS, Linux, Android, and FreeBSD. (See also, The 5 Weirdest Cryptocurrencies.)

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