Today is the anniversary of Monero (XMR): in fact, the privacy-focused project was born 6 years ago, on April 18th, 2014, with the aim of achieving a cryptocurrency completely safe from prying eyes without sacrificing decentralization and scalability.
Let’s retrace the history of this blockchain and its leaders such as Riccardo Spagni.
The project, initially called BitMonero, was later renamed Monero, which in Esperanto means currency. Initially, the project came to life from a fork of Bytecoin, from which some aspects were changed, such as the block time and the reward.
At that point, thanks to a group of users led by Johnny Mnemonic, the project began to give life to this promising cryptocurrency.
Considering that the key feature of this coin is privacy with the inability to see transactions and the balance of an address, Monero managed to explode just 2 years later and was the biggest crypto in terms of volumes in 2016.
A crypto that has these characteristics could not elude criminals who often prefer this cryptocurrency because of its anonymity. In fact, the main cyber attacks exploit this crypto to mine the victims’ terminals, even through photos, audio and cryptojackers.
Moreover, on the two black market platforms AlphaBay and Hansa Market – later closed by the police – XMR was the most used cryptocurrency.
Over the years, Monero has always continued to improve its protocol by adding confidential transactions and improving its Ring Signature and launching the Dandelion++ project.
In addition, HTC Exodus recently announced the possibility of mining the crypto on its blockchain smartphone.
Among other things, in this early 2020, privacy coins such as Monero are scoring the best performance from a trading point of view with increases of more than 20%.
