Monero (CURRENCY:XMR) traded up 1.4% against the US dollar during the twenty-four hour period ending at 19:00 PM ET on October 30th. Monero has a market capitalization of $1.88 billion and $17.24 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can currently be bought for approximately $113.32 or 0.01737098 BTC on major exchanges including Exmo, Cryptopia, Poloniex and Coinbe. During the last seven days, Monero has traded up 10.7% against the US dollar.
Here’s how similar cryptocurrencies have performed during the last 24 hours:
- Bytecoin (BCN) traded 2.8% higher against the dollar and now trades at $0.0014 or 0.00000021 BTC.
- DigitalNote (XDN) traded 4.5% lower against the dollar and now trades at $0.0027 or 0.00000042 BTC.
- Boolberry (BBR) traded up 6.2% against the dollar and now trades at $1.11 or 0.00016964 BTC.
- Aeon (AEON) traded 1.6% lower against the dollar and now trades at $0.60 or 0.00009262 BTC.
- BitNewChain (BTN) traded 4.4% lower against the dollar and now trades at $0.0488 or 0.00000748 BTC.
- BitTube (TUBE) traded 6% lower against the dollar and now trades at $0.0731 or 0.00001120 BTC.
- Stellite (XTL) traded up 30.9% against the dollar and now trades at $0.0008 or 0.00000012 BTC.
- Sumokoin (SUMO) traded up 1.9% against the dollar and now trades at $0.10 or 0.00001578 BTC.
- Karbo (KRB) traded 9.5% higher against the dollar and now trades at $0.12 or 0.00001823 BTC.
- UltraNote Coin (XUN) traded 3.6% higher against the dollar and now trades at $0.0005 or 0.00000008 BTC.
XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its genesis date was June 2nd, 2014. Monero’s total supply is 16,549,519 coins. Monero’s official message board is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official website for Monero is www.monero.cc.
According to CryptoCompare, “Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members’ keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from “a high-ranking White House official”, without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup). Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a “ring” of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. “
Buying and Selling Monero
Monero can be purchased on these cryptocurrency exchanges: Huobi, Graviex, Upbit, Exrates, TradeOgre, Bithumb, Gate.io, Mercatox, Braziliex, BitBay, Coindeal, DragonEX, Cryptomate, Waves Decentralized Exchange, Kraken, Coinut, Bittrex, HitBTC, Bitfinex, LiteBit.eu, Bitlish, Liquid, OKEx, OpenLedger DEX, Coinroom, Exmo, Stocks.Exchange, Bisq, Binance, B2BX, Trade Satoshi, Coinbe, Cryptopia, Crex24, BTC Trade UA, Instant Bitex, Ovis, Poloniex, Bitbns, CoinEx, Nanex, Tux Exchange, SouthXchange, Livecoin and BTC-Alpha. It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.
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