Monero (XMR) is a cryptocurrency fundamentally focused on protecting privacy.Getmonero.org
If you ask Riccardo Spagni–aka FluffyPony on Crypto Twitter–about who should invest in Monero, get ready for a pushback. “Monero's probably not an investment. It's designed to be a currency, and in particular it's designed to be a privacy-preserving currency.” says Spagni. Spagni is a builder who pushes norms in crypto, a community still defining what normal even looks like. I talked with Spagni about Monero and what makes it so different from other privacy coins.
Spagni had been working as a developer in a corporate office, and worked on breaking the Bitcoin codebase in his spare time. When the first trustless, default privacy protocol, CryptoNote, came out, Spagni’s interest piqued. He got into Monero for its unique codebase which launched while most of what was coming out were copies of the Bitcoin blockchain. He started mining Monero at its launch, participating actively in its community before becoming its lead maintainer and a vocal advocate for the internet’s most popular privacy coin.
For Spagni, Monero is not only a cryptocurrency with its own unique codebase; its setup reflects his beliefs.“I'm a big advocate for personal privacy. I think that it should be a basic human right. The way all our data has just sort of been splurged online through hacks and compromises and malware and sometimes our own stupidity, we're in a situation where privacy-preserving projects are a necessity. ” Spagni says.
How It Works
Monero uses sophisticated cryptography to hide where transactions came from, their amounts, and their destinations. one-time-use stealth addresses, allowing someone to receive funds at the same wallet address multiple times, while always displaying a unique and untraceable interaction on the Monero blockchain.
While many cryptocurrencies including Ethereum are taking an ...