What is Monero (XMR)?
Monero (XMR) is a cryptocurrency that appeared for the first time on April 18, 2014. It is not known exactly who created it. Anyway, its creator probably withdrew from this project and now other people are working on it.
At the beginning, the cryptocurrency was called Bitmonero (in Esperanto it means exactly Bitcoin). At the beginning from the technical side the whole project did not function properly, but now everything looks much better. Recent upgrade improved processing and now transaction can be recorded on the ledger within one minute!
For the creators of Monero, anonymity is extremely important. Therefore, transaction addresses are hidden which makes it impossible to find their senders and recipients. What's more, Monero offers a system of confidential transactions, which allows you to hide the amount that is included in the transfer.
Interestingly, the developers of Monero did not specify what the maximum supply of this cryptocurrency should be. At present, almost 15 million coins have been extracted. When it reaches 18 132 000 coins, their production is to be reduced. It will be about 0.6 XMR every minute per block.
The Monero project has a good chance of success, because cryptocurrencies are still gaining popularity and due to anonymity. Monero is increasingly bought by investors, thanks to which its value is systematically growing.
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