Monero Crypto Price Prediction, Value and Chart (XMR)

Monero (XMR) Frequently Asked Questions

What is Monero?

Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members' keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from "a high-ranking White House official", without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup).   Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a "ring" of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. (Description provided by CryptoCompare)

How do I buy Monero?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Monero.

What do investment analysts think about Monero?

Weiss Research, an investment research firm that rates cryptocurrencies, has given Monero an overall rating of "C+", a technology and adoption rating of "C", and a market performance rating of "B-".

What technology is included in Monero?

Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members' keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from \"a high-ranking White House official\", without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup).   Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a \"ring\" of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. (Information provided by CryptoCompare)

Where can I get Monero wallet?

Monero produces its own wallet software that is available for download on its website, which allows you to store Monero on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Monero?

One Monero (XMR) is currently worth $119.14 on major cryptocurrency exchanges. You can also exchange one Monero for 0.00588234 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Monero in U.S. dollars is $2.16 billion.

What hashing algorithm does Monero use?

Monero is a proof of work (PoW) coin that uses the CryptoNight algorithm.

How do I mine Monero?

Monero can be mined using specialized mining software. XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards. CCMiner is another popular mining tool for computers with NVIDIA graphics cards. In addition to having mining software, you will need a Monero and access to a mining pool that pools your effort with other miners and a wallet to store the Monero that you earn from mining. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

What coins are similar to Monero?

The following coins use Monero's CryptoNight algorithm and proof of work (PoW) proof-type: Coalculus, Infinitus Token, Bytecoin, Monero Classic, Sumokoin, Aeon, BitTube, Karbo, BitNewChain, DigitalNote, Digital Insurance Token, ZUM TOKEN, INFAM, PluraCoin and UltraNote Coin.

What is the Reddit page for Monero?

The official Reddit community (subreddit) for Monero is r/monero.