Monero (XMR) The Cryptocurrency Status !

[Yugocean]

Monero was created on 18 April 2014 on privacy techniques, written in C++ language and based on the CryptoNote protocol designed by Nicolas van Saberhagen.

The ticker of Monero is XMR, it utilize on proof-of-work (POW) algorithm. Monero's it's Hash function is RandomX, with 1.26 XMR Block reward and 2 minutes block time.

Monero was designed in a way that it was easy to mine, this resulted hackers to create unwitting mining in people's computer, resulting in a new Cryptojacking issue.

Monero is still active ans is among the top 15 cryptocurrencies in coin market. More than 17 million Monero are circulating in the coin market.

 

[sincerem]

You detailed the explanation about Monero explicitly. Monero was created with a clear purpose to serve as a privacy coin, very much anonymous more than other volatile coins like BTC, altcoins, and Defi coins and xD. Its over six years it was integrated into the digital coin market, and its still working with over 15 million of it being circulated in the market since its inception in 2014. I just hope the government does ban it since they've grown infuriated around privacy coins.

 

[Mika]

I was not aware until recently that Monero was a pivacy coin, in other words, a crypto currency whose transaction cannot be viewed publically on the block chain just like bitcoin and other major crypto currencies. This has resulted in XMR being used for illegal transactions and in the dark web. I have never used this currency.

 

[Yugocean]

@sincerem Governments are only talking on crypto and bitcoin, they actually won't select Monero, who knows corrupt politicians also involved in it?

@Mika Once I tried to mine monero, but I was near to half way when the mining site turned scam, monero mining is easy, yet I never tried after that.

 

[sincerem]

@sincerem Governments are only talking on crypto and bitcoin, they actually won't select Monero, who knows corrupt politicians also involved in it?

Maybe they've forgotten that monero exist like any other Cryptocurrencies. It will be okay if they don't destroy the coin again. But that's the one criminals target mostly performing their fraudulent transaction activities.
It might be true that corrupt politicians are holding their stolen funds using Monero, to make it anonymous, and untraceable.

 

[Josemendez]

Monero is quite a coin created for the purpose of offering annoymous transaction to users . Currently it has little number if miners and the few ones mining it are not known as they do it in secret. This is because some government are against it because if it's annoymous nature and thus , it has not really attracted much investors.