Monero Fact Sheet




Monero

Monero is one of the first Crypto Currencies that led the way toward what are called the privacy coins.  While all the cryptocurrencies had elements of privacy the Privacy Coins used special algorithms to obfuscate data on the blockchain so users identities could not be tracked.  The focus on privacy, fungibiltiy have made Monero somewhat controversial as it is a go to currency for illicit markets.


Name: Monero

Ticker: XMR

Website: https://getmonero.org/

White Paper - Philosophy: https://cryptonote.org/whitepaper.pdf

Founder: Has had different leaders over time on various forums that have included members thankful_for_today. Tacotime and is currently being led by Luigi1111.  

Date Created: April 2014

Structure:  - Decentralized utilizing a Peer to Peer Network

Source Model:
 BSD 3-Clause

Total Max Monero Outstanding Possible:  At 18.3 million the money supply will begin a constant rate of 0.3 Monero per minute emission.

Block Time: 2 minutes

Mining:  Yes - For proof-of-work uses a special algorithm CryptoNight proof-of-work hash algorithm

For more Information on Privacy Coins see Darkstreet's Libranican:

Anonymity and Privacy Coins


Background:
Monero is the leader of the Privacy Coins a group of cryptocurrencies that seek privacy, censorship resistance and fungibility.

The path for Monero to get to its position has been bumpy. The idea of Monero is to use technology called Circle Signatures to obfuscate the Blockchain and make it harder for outsiders to see who transactions are between. The idea was first published in the Cryptonote V2 whitepaper in 2014. This coinsided with the launch of a cryptocurrency called Bytecoin. Bytecoin was found to have originally created the white paper in 2012 and have preminded the currency. This led to users on a Bitcointalk forum to fork Bytecoin and create a new currency called BitMonero. The initial creator of this coin was called thankful_for_today. However, thankful_for_today seemed to disapear leaving the currency without any developers. A group of developers led by a user named Johnny Mnemonic took control of the development and altered the currencies name to Monero.

Thankful_for_today reemerged with a plan to merging mining of Monero with that of Bytecoin. This plan created another revolt in which a major developer Smooth threaten to resign and another developer Tacotime threaten to fork the currency again.  Tacotime won this war and ran the currency as its figure head for a time.

In Sep, 2014, Monero was attacked through a flaw in CryptoNote that allowed for the creation of subchains.  These subchains refused to recognize the vailidty of transactions.  The flaw was cleared by a patch.

Privacy on Monero was further strengthened  on January 10, 2017 with the adoption of Bitcoin Core developer Gregory Maxwell's algorithm Confidential Transactions.



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