Monero XMR

Monero has been around since April 2014. It is open source and illegal or unofficial. To be recognized, the currency must be transparent so that the criminal justice authority can follow the transactions from above. That is exactly the case with Monero. For this reason, the coin is very popular with people who stick to their provacy. Payments and account balances remain completely hidden, which is not the standard for most cryptocurrencies.

Privacy

Monero focuses on fungibility, privacy and decentralization. It uses a barred ledger, which means that anyone can send or send transactions, but no external observer can indicate the source, amount or destination.
Monera focuses on 4 enhancing privacy aspects:

• Dual key stealth addresses
  unlinkability: hide cubere tx’s are going to
• Ring signatures
  centracibility: hide where tx’s are coming from
• Ring confidential transaction (ring CT)
  Cryptographically valueless: hide tx values
• i2p (Kovri)
  Passively hidden: hide tx originality IP’s

Video about methods to get more privacy

Criminal use of Monero

A coin that obscures all identity and transaction data naturally attracts criminals. A few years ago, the police started warning about rising crime involving the Monero. At the start of 2018, there will be a number of news links on Google about these warnings. November that same year, the abduction of the wife of Norway’s richest man took place, demanding a ransom of an estimated nine million euros payable exclusively in Monero.

The privacy that Monero offers is attracted by people interested in evading law enforcement during events such as the WannaCry Ransomware Attack, or on the dark web that buys illegal substances. Darknet is a hotbed of online drug dealers.

Mining Monero

Monero uses a Proof of Work mechanism to issue new coins and to motivate miners to secure the network and validate transactions.
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