Premiere took place: 2018-07-03
XMR was created on 18th of April, 2014 and it was the first fork of Bytecoin currency. Just like BCN, It is also based on the CryptoNight protocol, however the developers fixed the mistakes which were found in the Bytecoin code.
Monero is a decentralized cryptocurrency with a focus on private transactions, which are also fast and secure. Comparing to the most popular currencies such as Bitcoin or Ethereum which have transparent blockchains, XMR uses cryptography to shield sending and receiving addresses, as well as transacted amounts.
With Monero, you are your own bank. You can spend safely, knowing that others cannot see your balances or track your activity. XMR's transactions are confidential. This always-on privacy means that every Monero user's activity enhances the privacy of all other users, unlike selectively transparent cryptocurrencies.
XMR is a strong community - over 240 developers have contributed to the Monero project, however the founder remains anonymous. Monero is being mined by the Proof-of-Work method. The size of the block is not specified. It is calculated by the algorithm on the base of the last 100 blocks’ size.
What is interesting and worth-knowing - Monero in esperanto language means: coin.