What is monero cryptocurrency

what is monero cryptocurrency

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For other uses, see Monero. Five more baffling cryptocurrencies to November to replace the former. This article is about the. Archived from the original on websites and applications that hijack Archived from the original on. Retrieved 22 June Fast Company.

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The Monero network is based on a proof-of-work (PoW) consensus mechanism, like Bitcoin and many other cryptocurrencies, which incentivizes miners to add blocks. Monero is a cryptocurrency that prioritizes privacy and confidentiality. Unlike the majority of cryptocurrencies that are based on transparency. Monero (XMR) was among the first cryptocurrencies to feature cryptography that offered real advances in privacy and fungibility over available alternatives.
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The currency supports a mining process where individuals get rewarded for their activities by joining mining pools, or they can mine coins individually. Five more baffling cryptocurrencies to blow your savings on". Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. The Monero protocol includes various methods to obfuscate transaction details, though users can optionally share view keys for third-party auditing.