Monero (CURRENCY:XMR) traded 2.8% higher against the US dollar during the 1 day period ending at 23:00 PM Eastern on July 20th. One Monero coin can currently be bought for approximately $84.84 or 0.00797607 BTC on major cryptocurrency exchanges including Braziliex, HitBTC, Cryptomate and Coinroom. Over the last week, Monero has traded 8.5% lower against the US dollar. Monero has a total market capitalization of $1.45 billion and $105.95 million worth of Monero was traded on exchanges in the last day.
Here is how related cryptocurrencies have performed over the last day:
- Bytecoin (BCN) traded 1.7% higher against the dollar and now trades at $0.0007 or 0.00000007 BTC.
- Aeon (AEON) traded 2.9% higher against the dollar and now trades at $0.78 or 0.00007372 BTC.
- DigitalNote (XDN) traded 4% higher against the dollar and now trades at $0.0011 or 0.00000010 BTC.
- Boolberry (BBR) traded 3.4% higher against the dollar and now trades at $0.47 or 0.00004412 BTC.
- BitNewChain (BTN) traded up 0.4% against the dollar and now trades at $0.0308 or 0.00000290 BTC.
- BitTube (TUBE) traded up 2.8% against the dollar and now trades at $0.0292 or 0.00000275 BTC.
- Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Digital Insurance Token (DIT) traded up 0.3% against the dollar and now trades at $0.0031 or 0.00000029 BTC.
- Karbo (KRB) traded 2.2% higher against the dollar and now trades at $0.0854 or 0.00000803 BTC.
- Sumokoin (SUMO) traded 1.9% lower against the dollar and now trades at $0.0425 or 0.00000400 BTC.
Monero is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on June 2nd, 2014. Monero’s total supply is 17,109,958 coins. The official website for Monero is www.monero.cc. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. 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.
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 bought or sold on the following cryptocurrency exchanges: Graviex, Trade Satoshi, Crex24, Bittrex, Huobi, Liquid, Instant Bitex, Coinroom, Bitfinex, Coindeal, Exrates, Exmo, BitBay, OKEx, Kraken, Stocks.Exchange, LiteBit.eu, HitBTC, OpenLedger DEX, Waves Decentralized Exchange, DragonEX, BTC Trade UA, Gate.io, Coinut, BTC-Alpha, Bithumb, CoinEx, Bitlish, Binance, TradeOgre, Ovis, Coinbe, Bisq, Tux Exchange, B2BX, SouthXchange, Livecoin, Poloniex, Upbit, Mercatox, Cryptomate, Braziliex, Bitbns, Cryptopia and Nanex. It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.
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