XMR
Monero supported
About Monero (XMR)
What is
Monero is one of the leading privacy-focused cryptocurrencies and is supported by a large open-source community of developers and privacy proponents. A fork of the ByteCoin protocol launched in 2014, Monero is one of the CryptoNote coins -- a series of cryptocurrencies that rely on a suite of advanced cryptographic primitives to achieve privacy, decentralization, and fungibility.
Features
Monero is a proof-of-work (PoW) cryptocurrency whose community places a large emphasis on decentralization, and multiple efforts have been made to make Monero ASIC-resistant. ASICs are specialized mining hardware for PoW networks that can lead to centralization of miners. As such, Monero has deployed soft forks of the network’s protocol to limit ASIC performance on the network.
The CryptoNote technology deployed by Monero makes it one of the most profound examples of privacy in the broader cryptocurrency market. The network uses cryptographic primitives such as Ring Confidential Transactions (Ring CTs), ring signatures, stealth addresses, and bulletproofs to mask transaction details at the blockchain level completely.
Monero’s governance relies on a ‘rough consensus’ model where proposals for network upgrades and developments are passed through a series of off-chain decisions by the core developers and the broader community.
Recovering
By exporting the XMR private key (wallet management -> export private key), you get the XMR View key and Spend key, which can be imported into any mainstream XMR wallet (including the official wallet) to easily recover XMR assets.
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