History of Monero.
The history of the Monero cryptocurrency began on April 18, 2014. Then the first block was generated. The developers have made a special emphasis on the anonymity of the transaction. Themes and Monero have become popular among darknet users. In addition to the darknet, investors and miners are interested in Cryptocurrency. It currently holds a high rating in terms of capitalization and is in 11th place.
In the beginning, Monero existed as a fork of Bytecoin (not to be confused with Bitcoin). After it turned out that 80% of Bytecoin (BCN) had already been distributed, the developers did not resort to pre-mining and reissued the token, which had an exchange ticker (XMR). In 2014, unknown hackers attacked the system, but they failed to hack something.
Monero has a number of distinctive features. The main feature is the inexhaustibility of tokens, unlike Binkoin. Miners will be rewarded for each block resolved, 0.6 XMR, even after the token release stops.
Monero has a high level of anonymity. Thanks to the system-level transaction mixing and ring signatures, it is nearly impossible to trace transactions. The token holder is given a hidden wallet address and two keys: the first for viewing, and the second for making a transaction. This mechanism provides additional benefits.
Data is stored in a decentralized form, using the well-known blockchain technology, like Bitcoin. The high anonymity of the system attracted the attention of law enforcement agencies. The latter linked their concern to the fact that Monero could become a tool in the hands of criminals, and serve to buy and sell illegal goods, including weapons and drugs. Some experts believe that not all cryptocurrency owners use it for illegal purposes. Moneroy You can pay for completely legal goods and services, since many online games and casinos accept this token as a means of payment.
Mining Monero also has its own characteristics, since the CryptoNote algorithm does not allow mining on ASIC-type devices. The advantage is that you can mine on a video card. You need to have a computer of medium or high power, download the application on the official website, register a wallet of a suitable pool and start mining. Everything is set up very quickly and easily.
Overall, Monero has a number of benefits. Relatively easy mining, a high level of anonymity and protection, versatility of tokens and inexhaustible emission make it a full-fledged competitor to Bitcoin.