I. What is XMR coin?
XMR Coin is an open source cryptocurrency that was first released in April 2014. This XMR coin works on the CryptoNote protocol instead of Cryptocurrencies like other coins and also uses important blockchain-related algorithms. XMR Coin was born with the purpose of protecting privacy, security and traceability for users.
In particular, XMR coin can run on many different operating system platforms such as Windows, Android, Linux, etc.
II. Advantages and limitations of XMR coin – Monero
Advantages
- Shorten block processing time: Usually, other coins need block processing time of up to 120 seconds to complete. But with XMR coin, this time period has been cut in half, only about 60 seconds.
- Shorten block release time: Similarly, XMR coin has 50% faster block release time compared to other coins.
- Rewrite new code: Some code in the transaction process often has poor responsiveness. With XMR coin, the codes have been added or rewritten to best fit.
- Privacy: Transactions are always set to incognito by default. This increases privacy and helps protect transactions from detection.
Disadvantages
Because the features of Monero coin are completely refreshed and different, the capacity on the Monero blockchain is very expensive and quickly consumed.
III. Features and structure of XMR Coin – Monero
XMR coin is a hard fork of Bytecoin, started in 2014, that fixed Bytecoin’s pre-existing problems. This coin uses the CryptoNote protocol in the form of a Proof of Work CryptoNight hash to limit mining with a dedicated computer. Instead, CryptoNight optimized conventional CPUs to power PoW, creating an equal community of Monero miners.
1.Ring Signatures
Ring Signatures are electronic signatures that allow senders to conceal their identity from others in a group.
To create a ring signature, XMR coin combines a sender’s key and the public keys on the blockchain. This coin hides the identity of the sender, since it is computationally impossible to determine which key and by whom it was generated.
2.Stealth Addresses
This is a feature to prevent frauds and scams, but the downside is that once the public key is linked to a private identity, all transactions using that key can be tracked. The idea behind Stealth Addresses is to create a layer of anonymity between your public address and the Monero that you own. Addresses on the publicly available XMR coin blockchain are hidden addresses, so personally identifiable information is completely off the blockchain.
3.Ring Confidential Transactions
Before implementing Ring CT, the transaction amounts in XMR coins need to be divided into specific denominations. This is because Ring Signatures are only effective when the outputs are at the same value and can be seen by outside observers.
Ring CT technology allows the amount sent for a transaction to be hidden while maintaining the network’s ability to verify the transaction value. As a result, transactions no longer need to be split into different denominations and wallets are free to choose ring members from any output and any amount, which provides a huge improvement. about privacy for XMR coin.
IV. What is XMR?
1. Detailed Information about XMR
- Ticker: XMR.
- Blockchain: Monero
- Consensus Algorithm XMR: PoS (CryptoNote Protocol).
- Transaction speed: 20 minutes.
- Block time: 2 minutes.
- Circulation bow: 18,059.462
2. (Project Token) Allocation
- Listing all stages & amount of (Project Token) Allocation
3. (Project Token) Noticeable Milestones
- Listing (Project Token) Noticeable Milestones (Plans, Expectations, Revenues)
4. Use Cases of (Project Token)
- Listing all (Project Token) use cases & their benefits
VI. XMR Coin market value statistics
- XMR Price: 194.63 US$
- Market capitalization: $3,514,704,171 US$
- Market Cap Domination Index: 0.17%
- Trading volume: 139,147,083 US$
- Volume / Market Cap: 0.0396
- Low for 24h / High for 24h: 192.17 US$ / 204.10 US$
- 7 Day Low / 7 Day High: $192.17 / $252.28 US$
- XMR Market Cap Rating: #48
- All-time high: 542.33 US Jan 09, 2018 (almost 4 years)
- All-time low: 0.216177 US Jan 14, 2015 (nearly 7 years)
VII. Exchanges that can trade with XMR coin?
- Binance Exchange
- huobi floor
- Okex Exchange
- Bybit Exchange
- Kucoin Exchange
- MEXC Exchange
- FTX Exchange
VIII. Which Crypto Wallets are suitable for XMR?
Currently XMR coin is stored on many different wallet platforms including:
- XMR coin wallet on computer: Monero GUI Wallet is a wallet built by Monero developer himself, available in versions for Windows, Linux and MacOS operating systems.
- Mobile XMR wallet: Monerujo, Cake wallet
- Online XMR Wallet: MyMonero
- Hardware wallet: Ledger Nano WILL
IX. Should XMR be invested?
As of now, Monero is the 48th largest cryptocurrency by market capitalization. Much of this growth has not come from speculation, XMR coin has grown thanks to the acceptance of darknet users, especially the Alphabay website, for private, untraceable payments. Okay. Not only that, XMR coin is working on a new technology called Kovri to hide the IP addresses of nodes on the network. This results in higher data accessibility and goes beyond current masking technologies like Tor and VPN. Kovri uses encryption layer encryption to hide the data that users are sending, using Kovri to connect to the Monero network will become the default in updates and promises to grow for XMR coin in the future.
However, whether to invest in XMR coin is a personal right of each person. Meta Lion only provides important knowledge and information of XMR coin. Please think and learn carefully with BinanceGate to make the best decision, wish you success.
X. Where can XMR information be updated?
Currently, Crypto users can fully consult, research, and analyze information about XMR Coin through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of XMR Coin and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
Conclusion
The above is Meta Lion’s comment on the XMR Coin project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.
