Monero (CURRENCY:XMR) traded 33% higher against the dollar during the twenty-four hour period ending at 23:00 PM Eastern on May 20th. Monero has a total market capitalization of $5.17 billion and $854.20 million worth of Monero was traded on exchanges in the last day. During the last week, Monero has traded 28.2% lower against the dollar. One Monero coin can now be purchased for $288.39 or 0.00701469 BTC on major exchanges.
Here is how related cryptocurrencies have performed during the last day:
- Bytecoin (BCN) traded up 3.9% against the dollar and now trades at $0.0006 or 0.00000001 BTC.
- DigitalNote (XDN) traded 18.2% higher against the dollar and now trades at $0.0045 or 0.00000011 BTC.
- Aeon (AEON) traded up 18.7% against the dollar and now trades at $1.26 or 0.00003054 BTC.
- Monero Classic (XMC) traded up 18.9% against the dollar and now trades at $0.60 or 0.00001455 BTC.
- Infinitus Token (INF) traded up 0% against the dollar and now trades at $0.15 or 0.00000363 BTC.
- Sumokoin (SUMO) traded up 27.6% against the dollar and now trades at $0.14 or 0.00000349 BTC.
- BitTube (TUBE) traded up 3.3% against the dollar and now trades at $0.0118 or 0.00000029 BTC.
- Karbo (KRB) traded 5.7% higher against the dollar and now trades at $0.16 or 0.00000388 BTC.
- Digital Insurance Token (DIT) traded up 7.3% against the dollar and now trades at $0.0033 or 0.00000008 BTC.
- BitNewChain (BTN) traded 0.1% lower against the dollar and now trades at $0.0025 or 0.00000005 BTC.
About Monero
XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its genesis date was April 18th, 2014. Monero’s total supply is 17,914,060 coins. Monero’s official website is ww.getmonero.org. The official message board for Monero is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. 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 presently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.