Introduction
The cryptocurrency Monero, initially known as BitMonero, is the most-well known privacy coin in the crypto space today and was the first crypto coin to be classified as a privacy coin. Monero boasts the largest market capitalization of all privacy coins with a fluctuating value of just over $4 billion USD and functions on a Peer to Peer (P2P) communications network.
Key Features
- Stealth Addresses
- Ring Signatures
- RingCTs
- Transactions over Tor
- Dandelion++
Wallets & Exchanges
- Monero Graphical User Interface
- Contains a versatile digital display that grants both beginners and advanced users’ complete control of their account. Features such as compatibility with hardware wallets, in-app fiat conversion, and blockchain pruning are available with this software
- Monero Command Line Interface
- Offers many of the same features as the GUI wallet with the additional benefit of being highly customizable through its three different interface
- Delisted on Coinbase and Crypto.com
Comparison to Bitcoin
- Bitcoin is a pseudonymous cryptocurrency while Monero is an anonymous cryptocurrecny
- Size of Monero’s blocks are flexible while Bitcoin’s are fixed
- Transaction fees of monero are smaller than Bitcoin
Future Plans
- Haveno
- Bulletproofs+
- Triptych
- Return Addresses
- Second layer solutions for speed and scalability
