What Is MONERO ?

Monero which has an XMR unit value is an Open-Source code designed based on cryptographic algorithms created in April 2014 by Anonymous developers, which focuses on Privacy, Decentralization, and Scalability, which can be implemented on Windows, MacOS, Linux, Android operating systems and FreeBSD.

Monero is based on Blockchain technology where all transactions will be recorded and validated on Miner devices (Mining) spread throughout the world. So, the security of the Ledger Blockchain will be protected from all Cyber ​​attacks.

The main purpose of Monero's creation is to improve the design of the existing cryptographic, by making all the details, from the sender, recipient, and the number of transactions to Anonymous (not tracked and undetectable), as well as making the mining process of the Egalitarian legib.

The focus on privacy is intended for people who want to transact without being noticed by others, as well as third parties, with the Peer-to-Peer process automatically. The Egalitarian mining process will make monero feasible to be distributed as a mining business or new funding path to Startup without having to worry about the danger of hacking which often troubles users of digital currencies.

Unlike most crypto currencies which are derivatives of Bitcoin (BTC), Monero bases its algorithm creation code - PoW / Proof-of-Work - on the CryptoNote protocol, which is an algorithm that differs significantly in terms of Blockchain-Obfuscation.

By increasing the level of privacy to a higher level, making Monero has Fungible characteristics. That is, each currency unit can be replaced by another unit. These units cannot be differentiated specifically from other units, meaning that they cannot be tracked from where and to whom the unit of coin is transacted.

This makes Monero different from some crypto currencies in general. Addresses that are previously related to undesirable activities (for example: hacking, fraud, illicit funds, etc.) can be entered into the Blacklist so that the owner of the funds, wallet, or coin cannot make another transaction.

Specifically, the Signature for each transaction will blend with a group of other Signature that is on the network, or blend in with all transactions that are carried out at almost the same time. So, exponentially it will be more difficult to track the relationship of each transaction that has been done.

"Stealth Addresses" or hidden wallet addresses are also generated for each transaction made, making it impossible to track who the sender and recipient are in a transaction. Also added is the "Ring Confidential Transactions" feature which will hide the number of coins (funds) transacted.

Monero is also designed to be more resistant to the problem of integrated circuit buildup, namely the Scalability problem that occurs in Bitcoin today. Therefore, mining and block validation will be easier and more efficient. Even consumer class devices such as x86, X64, ARM and GPU consumer classes can participate in mining activities.