About The Monero Project

About The Monero Project
on January 15, 2018

Monero in a Nutshell

Monero is a privacy-centered cryptocurrency which claims to offer untraceable transactions. It uses the CryptoNight Proof of Work algorithm, making it difficult to mine via GPUs or ASICs.

Mineable via Proof of Work

PoW: CryptoNight

Maximum circulating coins: 18.4 million coins (approx 3 million less than Bitcoin)

What Makes It Different?

According to the official Monero website:

Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Monero provides all the benefits of a decentralized cryptocurrency, without any of the typical privacy concessions.

Who is Behind Monero?

Monero is an open source project and currently has 148 contributors working on it.

Copyright to the Monero source code is held by The Monero Project


See Also

Aeon – A different and more lightweight privacy-centered cryptocurrency.