What Is Monero?

Monero (XMR) is a decentralized digital currency. It has no CEO and no formal organization behind it. The goal of Monero is to become the most cash-like cryptocurrency available. It does this by utilizing three different kinds of technologies that are different than most cryptocurrencies, ring signatures, stealth addresses and confidential transactions. These three key features allow Monero to become what is known as fungible, where every unit is indistinguishable from every other unit. Even though Monero may be private, users still have the option of allowing people to audit their transactions cryptographically thanks to the addition of view keys. This is not true of cryptocurrencies like Bitcoin and Ethereum.

Monero hopes to become a digital currency adopted by people all over the world.