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This process was aided by measured, thoughtful statements from its more public-facing developer, Riccardo Spagni, and a seemingly deliberate avoidance of hype.
Distinct from the majority of altcoins, Monero (XMR) wasn’t cloned from Satoshi’s ever-evolving Bitcoin codebase.
If you’re thinking of getting involved in Monero, this guide covers the coin’s history, features and future prospects in detail.
Later sections are dedicated to the practicalities of trading and mining Monero.
Meanwhile, various cryptocurrency experts were referring to Monero with a degree of respect notably absent from their assessment of (most) other altcoins: By winning over trusted people through the merits of its code, Monero has gradually acquired a reputation for reliability and competence.In the wake of Monero’s recent adoption by the Alphabay and Oasis Darknet markets and the subsequent price explosion, Monero is undeniably the market’s preferred choice of “anon coin,” or anonymity-focused cryptocurrency: Monero (market symbol: XMR) chart, priced in US Dollar(-pegged crypto, Tether).Note that (inside) traders were buying XMR before news of its DNM adoption became known and selling it before the exit scam became known… 99 Bitcoins previously recommended Monero as a reliable option for obscuring the trail of your Bitcoin spending and we stand by that.Although not in use as a cryptocurrency, Crypto Note effectively demonstrated the privacy advantages of a cryptocurrency based upon previously unseen cryptographic methods, such as Ring Signatures.The reason for Monero’s forking from Bytecoin was due to the latter’s massive pre-mine, which ran to approximately 80% of total supply.
These anonymity properties make Monero an excellent choice for Darknet Market (DNM) trade and other privacy-sensitive applications.