{"id":37261,"date":"2019-12-04T07:00:10","date_gmt":"2019-12-04T05:00:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37261"},"modified":"2025-08-29T14:35:38","modified_gmt":"2025-08-29T11:35:38","slug":"what-is-monero-xmr","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/what-is-monero-xmr\/","title":{"rendered":"What is Monero (XMR)?"},"content":{"rendered":"
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1<\/span><\/p>\n

What is Monero?<\/strong><\/p>\n

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Attention! The article is outdated and requires an update.<\/strong><\/p>\n<\/blockquote>\n

Monero (XMR) is a privacy-focused cryptocurrency<\/a> with open-source code, whose protocol implements several transaction-anonymisation techniques: stealth addresses and ring confidential transactions.<\/p>\n

On the Monero network, only the transacting parties\u2014and anyone given a special access key\u2014can see the amount and the sender and recipient addresses.<\/p>\n<\/div>\n<\/div>\n

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2<\/span><\/p>\n

Who launched Monero, when and how?<\/strong><\/p>\n

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Monero launched in April 2014 under the name BitMonero. Its protocol was based on the code of CryptoNote and Bytecoin. The name was later changed.<\/p>\n

The CryptoNote protocol was introduced in 2012 by the developer Nicolas van Saberhagen. He described CryptoNote in “CryptoNote White Paper v 1.0<\/a>” and “CryptoNote White Paper v 2.0<\/a>“.<\/p>\n

Bytecoin was the first mass implementation of CryptoNote. The project\u2019s reputation was undermined by a premine in which the developers kept 80% of the total supply. Led by Riccardo Spagni, some users created their own version of the coin with zero premine.<\/p>\n

Almost all Monero developers use pseudonyms. Only two have revealed their identities\u2014Riccardo \u201cFluffypony\u201d Spagni and Francisco Caba\u00f1as.<\/p>\n

The cryptocurrency ranks third after Bitcoin and Ethereum by number of developers, though only a few write code on a permanent basis.<\/p>\n<\/div>\n<\/div>\n

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3<\/span><\/p>\n

Which anonymisation technologies does Monero use?<\/strong><\/p>\n

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Ring signatures<\/em><\/p>\n

In cryptography, a \u201cring signature<\/a>\u201d allows a member of a set of signers to sign a message anonymously, without revealing their identity.<\/p>\n

In Monero, ring signatures add decoys (mixins) to a transaction in the form of inputs\/outputs from previously made transactions. They help obfuscate the trail: it is impossible to determine with certainty which parts are decoys and which are the real funds.<\/p>\n

For a long time the option to add decoys to transactions was unavailable and later optional. Users ignored it. This enabled researchers to deanonymise about 64% of all transactions made before September 2017.<\/p>\n

Ring Confidential Transactions (RingCT)<\/em><\/p>\n

The Confidential Transactions technology hides the time, the payment amount and the participating addresses.<\/p>\n

RingCT was implemented in Monero in January 2017. Since September 2017 this feature has been mandatory for all transfers. At least ten decoys are automatically added to a transaction.<\/p>\n

Stealth addresses<\/em><\/p>\n

Transactions on the Monero network are executed via unique one-time \u201cstealth addresses\u201d created by senders\u2019 wallets. The coins are sent to that address.<\/p>\n

These addresses hide the link between the sender address, the recipient address and any other transactions\/addresses.<\/p>\n

A recipient does not lose anonymity when receiving many payments to one address, because incoming transfers are routed through different stealth addresses.<\/p>\n

Future integration of the Kovri I2P protocol into Monero<\/em><\/p>\n

The protocol, written in C++ and based on I2P, will route all Monero user traffic (IP and other metadata) through nodes run by anonymous volunteers, akin to Tor.<\/p>\n

A user exposes their IP address when making a transaction. Although it is not recorded on the blockchain, real-time network scanning can capture the IP.<\/p>\n<\/div>\n<\/div>\n

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4<\/span><\/p>\n

What types of Monero addresses exist, and what are their keys for?<\/strong><\/p>\n

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Monero addresses consist of 95\u2013106 characters and start with the digit 4.<\/p>\n

Standard addresses (standard address, raw address) are the technical basis for subaddresses and integrated addresses. They are useful for:<\/p>\n