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RSS Reddit

  • Milei talks currency competition. Seems like a golden opportunity for Monero. February 24, 2024
    submitted by /u/AsicResistor [link] [comments]
    /u/AsicResistor
  • Monero Fork / wrapped privacy stablecoin February 24, 2024
    Dear Monero Community, I'm reaching out to gather your thoughts on an innovative project that leverages Monero's technology. We development a native stablecoin blockchain, underpinned by Monero's privacy-focused features and backed by USDT. Our intention here is not to advertise but to engage in a constructive dialogue with you. We're excited to announce that our […]
    /u/cryptosenzor
  • Is Freewallet a complete scam? Does it work for anyone? February 23, 2024
    I needed to trade some coins a few years ago. Freewallet was fine. I was trying to trade for an uncommon coin and sent some btc to Freewallet. Suddenly, my account is frozen. Now, I'm trying to take out about $300 and they are requesting information, and each response asks for more information. It's kind […]
    /u/Aggressive_Algae726
  • Chance calculation for solo miners: SoloChance.org February 23, 2024
    I needed solo mining Monero calculations but solochance.com was supporting only Bitcoin, so I created SoloChance.org. Enjoy. 🙂 submitted by /u/mustafatufan [link] [comments]
    /u/mustafatufan
  • Why doesn't someone make an Android Monero Wallet at least with the option of being a local node? February 23, 2024
    I am looking at you, Monerujo. There should be a Monero Wallet for Android that should give you a local node at least as an option, like Monero GUI does. Granted, most people would probably want an Android device to use a remote node. But fast SD cards are getting cheaper. I just bought a […]
    /u/UnCytely
  • buying xmr on cake wallet February 23, 2024
    Sorry if its a dumb question, im new in the field of cryptocurrencies and i dont know where to ask this, i want to know if i buy some xmr on cake wallet app through apple pay or credit card will the coins instantly go to my wallet or i have to wait? and if […]
    /u/Ok_Abbreviations1858
  • new top block candidate: 3090466 -> 3992174 February 23, 2024
    Is this normal ? It is happening on one of my computers. PC running Linux xubuntu https://preview.redd.it/9uz0wg0jubkc1.png?width=1600&format=png&auto=webp&s=52c1094dd1db455e5d6af3e3e111f99b95bba49a submitted by /u/Wazakazao [link] [comments]
    /u/Wazakazao
  • where to buy monero? February 23, 2024
    hi guys, need a little help, where do i buy monero so i can transfer it to feather wallet, i've installed kraken but i don't know how to transfer it to my feather wallet. submitted by /u/No_Wheel_5747 [link] [comments]
    /u/No_Wheel_5747
  • How to buy (almost) everything with Monero/Bitcoin February 23, 2024
    Join the Monero economy. There is some sites that are useful if you want to buy something with monero. Monero market : On this site you can buy almost everything with your Monero. It's peer-to-peer : https://moneromarket.io/18901/ https://moneromarket.io/register/18901/ Mullvad is an anonymous VPN service. You can buy with Bitcoin or Monero. https://mullvad.net Cake pay is […]
    /u/Freshfish120
  • XMRvsBeast on the Nodo on Monerotopia! February 23, 2024
    submitted by /u/JekaDove [link] [comments]
    /u/JekaDove

RSS News

What Is Monero ?

Monero denoted as XMR is a decentralised open-source cryptocurrency that focuses on privacy, security and scalability. Monero has cryptographic security features that shields are sending and receive and also amount transacted to be seen by prying eyes of the public. Monero is private, secure and untraceable.

We feel awkward whenever our account officer in a bank check our account details for one transaction or the other, as we think a second party is watching everything about our transactions. Bitcoin cryptocurrency came, and we started jumping up in celebrating thinking that, our financial transactions are enveloped with privacy.
Do you know that your transactions in bitcoin blockchain are viewed by the prying eyes of the public because those transactions exist in public ledger?
A group of people noticed this flaw and founded a cryptocurrency blockchain which the second party can never view transactions. That cryptocurrency is called Monero, and it was launched in 2014 by a team of seven developers.

Three extra features that made sending and receiving money more secure in Monero

Monero implements these three functions in its blockchain, they are:

Ring signatures: This feature shields where the money is coming from.

Stealth Addresses: This feature shields the destination where the money is being sent to.

RingCT (Ring Confidential Transactions): This feature shields the amount being sent.

 

THE TEAM

The Monero’s team consists of seven developers, and five chose to be anonymous. The other two known faces include David Latapie and Riccardo Spagni aka “Fluffypony. These men are security experts and also experienced managers.

Practical Uses of Monero

  • It protects one’s online identity from the prying eyes of the public.
  • It is used for payment solutions.
  • Some banks use Monero’s blockchain platform for transactions.
  • It is an entirely anonymous cryptocurrency that makes people’s wealth private and fungible. Some law enforcement is having a running battle tracing people’ wealth in Monero.

Mining of Monero

Monero uses Proof of Work(PoW) called CryptoNight to mine and fully implements CPU/GPU computational power. There is no ASIC meaning anyone can mine so long as you have the required hardware and the technical know-how. Monero’s mining algorithm reduces the performance gap making XMR more expensive to mine.

You can decide to go solo mining or pool mining. In solo mining, you have enough computational power and payment of rewards comes quickly. In pool mining, there is a little fee attached to it, and there is no much computational power. The good thing about pool mining is that resolution of cryptographic problems comes faster and more blocks are added to the blockchain. The rewards are a little bit delayed.

Whichever method one chooses, mining Monero is painstaking but profitable.

Notes for Investing

Monero (XMR) has maintained a positive showing in the market capitalisation over the last 12 months, becoming a sensation in the market. The stability, privacy and worldwide acceptability Monero are getting has made it, a good investment option. In June 2016, the market capitalisation has increased from $5 million to $183 million while in July 2017.It has gotten to $720 million.

Those who purchased XMR in May 2016, got it less than $10 but today, it is over $100.Investment analysts have predicted that it will hit $200 before July 2018.It is a good investment option considering the cryptographic gladiators backing Monero.

MUST READ!

You need to note that, cryptocurrency investment is speculative and unpredictable, and it involves risks. The market is full of uncertainty, susceptible to attack and capital loss. There are many parameters one needs to check before investing. Don’t invest only based on what you have read here, but invest based on the fact that, you have sought advice.
I wish you success!