Bitcoin Forum

https://i.imgur.com/mpsWono.jpg (https://imgur.com/mpsWono)


WHAT IS MONERO XMR?

Monero is a privacy-centered, secure and untraceable crypto-currency, it means details such as details of sender's address, amount sent and those of the receiver are completely obscure to everyone except to the parties involved.

WHY IS MONERO/PRIVACY NEEDED?
It is easy to associate different addresses to known individuals and as such ascertain their financial history and details. This is not really desirable if you wish to lead some private life, not necessarily illicit.No one would want his or her bank details, purchase, income publicly displayed, Monero offers you that advantage of privacy

How does Monero achieve Privacy?
Typically, every transaction is made up of Sender, Receiver and Amount
Sender's address----------------------(amount)-------------------> Receiver's address
XMR has three seperate piece of technology that help protect your privacy

a.Ring Signature - As with every blockchain transaction, you approve a transaction using a signature which makes it possible for the public to know which wallet is sending such, In the case of monero, it strings together several address into a big single ring, this makes it impossible to pin-point a transfer to a single source.This way, monero protects the sender's identity

b. Stealth Address - this is the approach XMR help obscure the receiver of a transaction. It is a one - time address that receives transactions and cannot be directly traced to the receiver's address publicly displayed keys.

c. Ring Confidential Transaction -- Ring CT obscures the amount of monero sent in a transaction on the network, the monero only give little information such as it being larger than zero and that it is not an invalid transaction, much more different than what a typical blockchain will show you.

REGULATORY CONCERNS ON PRIVACY COINS
There is no doubt that privacy coins offer unique advantages over conventional coins, there is the downside that it may be used to mask illicit transactions and therefore may face sanctions from Governments. I personally think that will be a wrong move, crypto-currencies should be allowed to thrive, even those with special features such as Monero, Privacy is an important key valuable.

Thank You
CREDITS:
Boxmining channel : https://youtu.be/0li4d6QGpz4
https://monero.org/

Monero is very promising project as for me and as for other members here, anonymity is vvery important here and I am really afraid of banning Monero by government.

It is doing great  really, among the most successful privacy coin in the market. Its potential for further growth is enormous especially if the issue of privacy becomes of paramont importance

Privacy coins are against the ethics of government were full transparency is often required. It will be difficult for monero or any privacy coin out there to go mainstream, except within the crypto circle.

There are not so many so promising altcoins but Monero takes place there thanks to its speciality, I am sure that Monero will get high level in the top of altcoins.