Monero (XMR) is a privacy-focused cryptocurrency that was launched on Bitcointalk as Bitmonero in 2014, then renamed to Monero. It’s still impossible to find the real founders of Monero. The crypto fraternity firmly believes there are seven key members involved in the platform who have decided to remain anonymous. As per rumors, Bitcoin founder Satoshi Nakamoto is one of those seven members who hold a key role in the Bitcoin platform.

 

The blockchain forms the underlying technology behind digital currencies. and acts as the public ledger of participants that showcases all the transactions on the network. The unique part of the Monero blockchain is that it can be mined using minimum hardware and with domestic C.P.U’s. Unlike Bitcoin, a huge hardware setup is required to mine. Hence, the consumption of energy remains relatively low.

 

Monero aims to achieve the highest level of decentralisation possible, such that users don’t have to trust anyone. The native token of Monero-XMR is a completely fungible digital asset. The details about senders, receivers, and the amount of funds transferred are obscured by default. That said, the process of obfuscation is achieved by the use of ring signatures.