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What is Monero Currency?

Monero is a cryptocurrency which is open source and oriented towards the privacy of the transactions. The Monero cryptocurrency was hurled in April of 2014. The people who were behind the innovation of this cryptocurrency did not themselves save any coin of Monero for themselves, but left this venture on the mercy of donations they shall receive from the people who would be interested in this cryptocurrency in future. The community support they received in furtherance of their goals too proved to be the cornerstone for the flight this Monero cryptocurrency has taken so far. This Monero cryptocurrency uses the concept of ring topography and hidden addresses of the nodes which are present in the pool of mining.

This whole structuring of the Monero cryptocurrency makes the sender and receiver hidden from the gazing eyes of the authorities and thus whole and sole privacy of the things is maintained. Privacy is the mission and vision statement of the Monero coins which was for the first time described in a research journal in which was presented to the MIT’s artificial intelligence labs. The specific algorithmic approach which is employed in the Monero is the brainchild of the founder of the Monero cryptocurrency at that time when the concept of blockchain was not very well understood.

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