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Monero briefly explained – Un-traceable transactions and Dynamic block size

> Getting Started > Monero briefly explained – Un-traceable transactions and Dynamic block size

What is Monero?

Monero is a digital currency, similar to Bitcoin, with the main difference being that your activity is kept confidential.

Not another Bitcoin clone

Monero’s codebase is written from the ground up in such a way to deliver genuine anonymity and privacy.

Stealth address

Users’ wallet addresses will never appear on the public blockchain. As a result, no one who knows your wallet address can see how wealthy you are or how much you are spending.

Privacy is always activated

All deals are confidential, and this means that every Monero’s activity basically enhances the privacy of others.

Un-traceable transactions

The source of funds for each deal is concealed via established and proven ring signature cryptographic techniques. This can be obtained without needing a trusted setup, safeguarding against malicious currency fabrication.

Dynamic block size

An arbitrary cap does not restrict the transaction volume, and it makes sure that transactions are processed quickly and at low costs.

High-security ED25519 curve encryption

The cutting-edge Elliptic Curve Cryptography will highly protect your funds against theft.

View key auditing

The dual key system allows users to provide other computers or people with the ability to view the incoming funds without any risks of theft.

ASIC resistance

The CryptoNight mining algorithm is resistant to special-purpose hardware that would result in an unhealthy process of mining centralization.

Lighting memory mapped database

Monero is built on a high-performance, low memory footprint database which is developed by a core Monero contributor who worked on the NASA space shuttle.

Invisibility of the network

Monero’s Kovri project encrypts and routes transactions via the I2P Invisible Internet Project nodes to protect users from network monitoring – this will be released soon.

Rapidity and efficiency of node interconnection

The node communication uses high performance, high scalability messaging protocols.

Light wallets and hardware wallets

Monero supports light wallet tech, and it will also be available on future hardware wallets.

Openalias Identity

This is a project that makes paying someone else as easy as knowing their email address, without any complicated strings of random numbers and letters involved in the process.

Monero Research Lab

Monero’s Research Lab boasts world-class academic researchers that are working hard to push the frontier of what is possible with crypto-related privacy and security.

Fungibility

Monero’s un-traceability means that people will not have to fear that the coins they receive are tainted after being associated with some previous activities.

Grassroots community

More than 240 developers have worked to build the Monero projects. Forums and chats are still active, and they welcome more enthusiasts.

Exchange traded

Monero is accepted widely at exchanges, and it allows you to get your funds in and out easily.


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