Privacy focused crypto asset
Monero is an open-source cryptocurrency that focuses on privacy, fungibility, and decentralization. It was launched in April 2014 as BitMonero by anonymous name Nicolas van Saberhagen. Monero uses an obfuscated public ledger where anyone can broadcast transaction but no outside observer can tell the source, amount, or destination. It uses PoW consensus to issue new coins into circulation and incentivize miners.
Monero’s privacy feature has been used multiple times by people interested in evading law enforcement or the dark web. Despite this, Monero is still famous as one of the few coins that can offer privacy for those seeking financial privacy. Monero continues its development and adopting a few technologies to improve privacy in the following years, such as Greg Maxwell’s Confidential Transactions algorithm.