If you are hearing about it for the first time, the best way to describe Monero is as a privacy-oriented cryptocurrency that was launched in 2014 of April. It was crowdfunded and entirely dependable of donations of the broader community.
Monero (XMR) has some game-changer elements that are worth mentioning.
The identity of the senders is protected using ring signatures that are combined with a user’s account keys and a public key from monero’s blockchain, meaning anyone from outside can’t link a signature to a specific user.
The price of Monero’s token has been significantly volatile at times, reaching up to 70 percent the last month and more than 1.300 percent since it began trading on CoinMarketCap. The cryptocurrency has been fluctuating between $0.25 in 2015 to about in May of 2017.
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The price of Monero will be completely dependable of the supply and demand. But this doesn’t mean it’s a bad thing. Investors find this compelling and are willing to take the opportunity to speculate on the value of the cryptocurrency in the future in an attempt to make strong returns.
Monero doesn’t have maximum block size which means there are no scalability problems as we have already seen with Bitcoin.
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