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.
| 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.) |