Monero (XMR) 1-Day Volume Tops $201.58 Million
Here is how similar cryptocurrencies have performed in the last 24 hours:
- Bytecoin (BCN) traded up 5.2% against the dollar and now trades at $0.0005 or 0.00000001 BTC.
- Aeon (AEON) traded 4.7% higher against the dollar and now trades at $1.09 or 0.00002776 BTC.
- DigitalNote (XDN) traded up 9% against the dollar and now trades at $0.0024 or 0.00000006 BTC.
- Infinitus Token (INF) traded down 0.2% against the dollar and now trades at $0.15 or 0.00000384 BTC.
- Monero Classic (XMC) traded up 6.3% against the dollar and now trades at $0.49 or 0.00001246 BTC.
- Sumokoin (SUMO) traded 4.1% lower against the dollar and now trades at $0.10 or 0.00000259 BTC.
- BitTube (TUBE) traded 21.2% higher against the dollar and now trades at $0.0080 or 0.00000020 BTC.
- Karbo (KRB) traded 9.3% higher against the dollar and now trades at $0.14 or 0.00000370 BTC.
- PluraCoin (PLURA) traded 25.8% lower against the dollar and now trades at $0.0008 or 0.00000002 BTC.
- Digital Insurance Token (DIT) traded 8.5% higher against the dollar and now trades at $0.0021 or 0.00000005 BTC.
Monero Coin Profile
Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 17,931,520 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official message board is forum.getmonero.org. Monero’s official website is ww.getmonero.org. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here.
According to CryptoCompare, “Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members’ keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from “a high-ranking White House official”, without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup). Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a “ring” of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. “
Buying and Selling Monero
It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the exchanges listed above.
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