Mar 21, 2018 - 10:59:02 AM UTC
Value and price movement of XMR is different in USD and BTC markets.
Price has moved 10.92% (USD) or 3.65% (BTC) in the last 24h.
Market Cap Rank: 11. of 1000+
Monero trading volume was 64,512,400 USD in the last 24h with circulating supply of 15,847,742 XMR.
Monero (XMR) Price graph
Monero (XMR) price in fiat
About Monero (XMR)
Monero is a open-source and freely available secure, private, untraceable currency that was launched in April 2014.. With Monero, you are your own bank and only you control and are responsible for your funds; your accounts and transactions are kept private from prying eyes.
By taking advantage of ring signatures, Monero makes it ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user.
The concept of a ring signature was first described by academics from MIT and The Weizmann Institute in a 2001 paper. Using this technology has helped provide legitimacy for monero at a time when much of the cryptography used in blockchains is new and has not withstood the test of time.
Monero mixes all coins used in transactions, which helps eliminate the suspicion that coins are being mixed to conceal information the senders and recipients don’t want third parties to see.
Because of monero’s untraceable nature, no two coins are distinguishable from one another, and they are both equal in the eyes of any merchants. Without this level of fungibility, a vendor that accepts cryptocurrency might refuse a unit of one of these assets because of its past transaction history.
Monero uses a proof-of-work (PoW) algorithm that was designed to be accessible to a wide range of processors, a specification that was included to ensure that mining was open to many different parties instead of just large mining pools.
The mathematics of the total supply of Monero coins is pretty interesting. There will be a total of 18.4 million XMR in circulation. Its mining will go until May 31, 2022, and after that, 0.3 XMR per minute will be fed into the system continuously forever.
Monero is not controlled by any central authority, institution, or foundation. But there is a core team who looks after its development, research, and maintenance.