Monero is a cryptocurrency that focuses on privacy. Using the ring signature technology- a type of digital signature that can be performed by any member of a group of users that each have keys. A group of cryptographic signatures contains at least one real participant, but without any opportunity to tell which in the group is the real one as all signatures appear valid. Monero is ‘secure, private and untraceable’.

Monero protects privacy in three ways for all transactions on the network:

  • Ring signatures hide the sending address.
  • RingCT hides the amount of the transaction (currently enabled by default and mandatory by the end of 2017)
  • Stealth addresses hide the receiving address of the transaction.
  • A planned fourth way conceals the origin node for transactions in I2P, and the Kovri router that would allow for this is currently in development.

At fourth place with $138 million in market cap, Monero is mostly used by individuals wishing to remain incognito on the web.

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