Back Monero Afrikaans مونيرو Arabic مونيرو ARY Monero Azerbaijani Монеро (криптовалута) Bulgarian Monero Catalan Monero Czech Monero Danish Monero German Monero (ĉifromono) Esperanto
 | |
| Denominations | |
|---|---|
| Plural | moneroj |
| Code | XMR |
| Precision | 10−12 |
| Subunits | |
| 1⁄1000 | millinero |
| 1⁄1000000 | micronero |
| 1⁄1000000000 | nanonero |
| 1⁄1000000000000 | piconero[1] |
| Development | |
| Original author(s) | Nicolas van Saberhagen |
| White paper | "CryptoNote v 2.0" |
| Initial release | 18 April 2014 |
| Latest release | 0.18.3.3 / 2 April 2024 |
| Code repository | github |
| Development status | Active |
| Project fork of | Bytecoin [a] |
| Written in | C++ |
| Operating system | Linux, Windows, macOS, Android, FreeBSD |
| Source model | FOSS |
| License | MIT License |
| Ledger | |
| Timestamping scheme | Proof-of-work |
| Hash function | RandomX |
| Block reward | XMR 0.6 ≥[2][3] |
| Block time | 2 minutes |
| Circulating supply | >18,444,828 (2024-06-02) |
| Supply limit | Unlimited |
| Website | |
| Website | getmonero |
| |
Monero (/məˈnɛroʊ/; Abbreviation: XMR) is a cryptocurrency which uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories.[4]
The protocol is open source and based on CryptoNote v2, a concept described in a 2013 white paper authored by Nicolas van Saberhagen. Developers used this concept to design Monero, and deployed its mainnet in 2014. The Monero protocol includes various methods to obfuscate transaction details, though users can optionally share view keys for third-party auditing.[5] Transactions are validated through a miner network running RandomX, a proof-of-work algorithm. The algorithm issues new coins to miners and was designed to be resistant against application-specific integrated circuit (ASIC) mining.
Monero's privacy features have attracted cypherpunks and users desiring privacy measures not provided in other cryptocurrencies. A Dutch-Italian study published in 2022 decisively concluded "For now, Monero is untraceable. However, it is probably only a matter of time and effort before it changes."[6]
Due to its perceived untraceablity Monero is gaining increased use in illicit activities such as money laundering, darknet markets, ransomware, cryptojacking, and other organized crime. The United States Internal Revenue Service (IRS) has posted bounties for contractors that can develop Monero-tracing technologies.[7]
- ^ "Moneropedia: Denominations". Archived from the original on 29 June 2022. Retrieved 29 June 2022.
- ^ Zero to Monero: Second Edition (PDF) (v2.0.0 ed.). 4 April 2020. pp. 64–65. Retrieved 5 June 2024.
- ^ "Examining the Implications of Monero's Latest Fork". www.binance.com. Retrieved 5 June 2024.
- ^ Braun-Dubler, Nils; Gier, Hans-Peter; Bulatnikova, Tetiana; Langhart, Manuel; Merki, Manuela; Roth, Florian; Burret, Antoine; Perdrisat, Simon (16 June 2020). Blockchain: Capabilities, Economic Viability, and the Socio-Technical Environment. vdf Hochschulverlag AG. pp. 165–167. ISBN 978-3-7281-4016-6. Archived from the original on 29 October 2023. Retrieved 22 July 2023.
- ^ Lacity, Mary C.; Lupien, Steven C. (8 August 2022). Blockchain Fundamentals for Web 3.0: -. University of Arkansas Press. pp. 9–33. ISBN 978-1-61075-790-4. Archived from the original on 29 October 2023. Retrieved 22 July 2023.
- ^ Bahamazava K, Nanda R. The shift of DarkNet illegal drug trade preferences in cryptocurrency: The question of traceability and deterrence. For Sci Int: Dig Investigation. 2022;40 doi: 10.1016/j.fsidi.2022.301377.
- ^ Cite error: The named reference
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