Monero [XMR] is a brand new uprising cryptocurrency which originates from Bitmonero.
Being the fork of Bytecoin, Monero (XMR) is an anonymous and decentralized cryptocurrency with CryptoNight (64-bit CPU-only) PoW hash algorithm and based on CryptoNote protocol.
Monero cryptocurrency bears all hallmarks from its parent cryptocurrency: privacy, security, untraceability, block analysis resistance and others. All product features are covered in more detail on this website.
Unlike most of the digital coins, Monero uses a special technology called “ring signatures” which shuffles users’ public keys in order to eliminate the possibility to identify a particular user.
Being a great feature, untreaceability doesn’t protect a receiver from defining his or her balance through inspecting ingoing messages to the user’s public address. Therefore, Monero employs a specific protocol which generates multiple unique one-time addresses that can only be linked by the payment receiver and are unfeasable to be revealed through blockhain analysis..
Like any other digital currency, Monero is cryptographically secured. Though, the peculiarity of algorithm consists in tremendous computational and electric capibilities that a hacker would need to even try to steal your funds.
To put it in a nutshell, your wallet is unbreakable.
Besides other features, privacy is basically provided with the idea of anonymous transactions without any obligations to cooperate with third parties. Monero is based on cryptography that has lots of muddling factors in its arsenal, making it difficult to detect whom transactions belong..
Monero’s blockhain analysis resistantce results from unlinkability, which was achieved by using a modified version of the Diffie-Hellman exchange protocol that generates multiple one-time public addresses that can only be simply gathered by the message receiver, but hardly analyzed by confused foreigners inside the block explorer.is.