What is Monero? - For Beginners
What is Monero?
Monero is safe, private and can not be tracked. With Monero you are, of course, your own bank and you have control over your funds.
Your transactions and accounts will be hidden from everyone except yourself.
Security:
Monero takes distributed P2P networks in use, better known as peer-to-peer. Each transaction is cryptographically secured. The individual accounts have a 25-word generated code that appears when it is created and it needs to be written down to restore the account. The user files are encrypted with a bothered code to ensure that they are unusable if they are stolen.
private:
Monero uses a cryptographic audio system that allows you to send and receive funds without your transactions being available on blockchain (The Distributed Base of Transactions). This ensures that your purchases, receipts and other shipments remain private by default.
Impossible to trace:
By taking advantage of "ring signatures" (a special type of cryptography), Monero ensures that your transactions are impossible to track. This means that it is unclear what funds have been used and hence extremely unlikely that a transaction can be linked to a particular user.
It is therefore a good idea to get into Monero as it has a promising background and a good team behind it.
A horribly unscalable super interesting experiment with some fun history is all monero is.
With out the dark net site that scammed everyone monero would be nothing.
Haha man this almost sounds too good to be true. I am new to this whole crypto thing but the things I read and see are surprisingly great.
In my opinion, Monero (XMR) is very undervalued right now, although is pretty stable to be an altcoin. There are a few anonymity-focused competitors, like ZEC (Zcash) or DASH, but I still prefer Monero concept.
What do you think about that?
I think monero is over valued, Its horribly unscalable.
Ive been wanting to get into xmr for awhile. Im going to buy in HEAVY once the market crashes again. I think the market will crash again due to August 1st
@macbaren
Good content
Keep sharing good posts!
Thank you for sharing