The virtual or digital currencies are increasing its popularity and these are decentralized and can be used to trade or spend using blockchain technology. Most of them are designed to enhance privacy and anonymity, although their success varied. Some of these currencies allow public viewing of all transactions in the blockchain such as Bitcoin, while others make privacy optional. And still, others keep the privacy feature intact to avoid hackers and bugs.
The rise of Monero XMR
One coin that makes noise in the market is Monero. This article explains how this became a gem coin with its unique algorithm and feature. Monero (XMR) is an open-source, privacy-oriented cryptocurrency that was launched in 2014.
Monero's blockchain is purposely configured to be transparent. It makes transaction details, like the identity of senders and recipients, and the amount of every transaction, anonymous by disguising the addresses used by participants.
Advantage of Monero over Bitcoin
Another advantage of Monero over bitcoin is changeableness. This implies that two units of a currency are often reciprocally substituted with no distinction between them. Monero has also a non traceable transaction history that offers participants security a much trusted network. That they don’t run the chance of getting their command units be refused or blacklisted by others.
Another thing to earn Monero is through mining. Monero mining can be performed on a standard computer and does not need any specific or expensive hardware such as the application-specific integrated circuits (ASICs) or multi-specs hardware rig.
