What is Monero?
Launched in 2014, Monero (XMR) is an open-source cryptocurrency, is built and operates on the blockchain concept. These blockchains, which form the underlying technology behind digital currencies, are public ledgers of participants’ activities that show all the transactions on the network. Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts.
Monero Mining Calculator
Monero is a decentralized cryptocurrency, transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Third-parties do not need to be trusted to keep your Monero safe.
All Monero transactions are completely anonymous by way of blockchain obfuscation, where transactions which are sent are completely hidden from any outside party. In order to transact on the Monero network, additional keys, such as a one-time stealth public address are used and then rendered useless so as to hide transaction information. Mining Monero is much easier than other blockchains, This has made mining on the Monero blockchain more decentralized across the network, and less prone to large ASIC-based companies taking over a majority of the hashing power of the network.