Monero
Monero is a privacy-focused cryptocurrency that uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the source, amount, and destination of transactions on its blockchain. It aims to make transactions untraceable.
cryptocurrency
privacy
untraceable
blockchain
Monero: Private Cryptocurrency
Ring signatures, ring confidential transactions, and stealth addresses provide unparalleled privacy for Monero transactions on its blockchain
What is Monero?
Monero is an open-source, privacy-oriented cryptocurrency that was launched in 2014. It focuses on providing completely private, untraceable, and secure transactions using advanced cryptography.
Some key features of Monero include:
- Ring signatures - Hide the identity of the sender by mixing it with other transaction outputs
- Ring confidential transactions (RingCT) - Hide the transferred amount
- Stealth addresses - Single-use addresses that protect the privacy of the recipient
- Inbuilt anonymity - Sender, recipient, and amount are all obfuscated by default
Monero uses a proof-of-work consensus algorithm and is not based on Bitcoin's codebase. The masked sending addresses, one-time destinations, and coin mixing all guarantee the network's privacy and anonymity. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.
As a result, Monero provides true transactional privacy and fungibility unlike most other cryptocurrencies. It has gained adoption in gray or black marketplaces online but also has legitimate use cases. Overall, it focuses heavily on user privacy, confidentiality, and anonymity.
Monero Features
Features
- Ring signatures - obscures the sender of a transaction
- RingCT (Ring Confidential Transactions) - hides the amount transferred in a transaction
- Stealth addresses - a new address is generated for each transaction to prevent address re-use
- Dandelion++ - obscures IP addresses of transactions when propagating them across the network
- Kovri - hides the transaction broadcast IP address through I2P network integration
Pricing
- Open Source
Pros
True transaction privacy and anonymity
Fungibility - all coins have equal value due to privacy features
Active open source community development
ASIC resistant proof-of-work mining algorithm
Cons
Scalability limitations due to privacy features
Regulatory uncertainty due to privacy focus
Limited adoption compared to other major cryptocurrencies
Official Links
The Best Monero Alternatives
Top Bitcoin & Cryptocurrency and Privacy Coins and other similar apps like Monero
Here are some alternatives to Monero:
Suggest an alternative ❐
Pi Network
Pi Network is a cryptocurrency and social media platform that enables users to earn Pi coins by running a node on their phone. It utilizes a novel consensus algorithm called Stellar Consensus Protocol (SCP) that allows lightweight mobile nodes to participate in securing the network without consuming substantial computing power.Users...
TradeOgre
TradeOgre is a cryptocurrency exchange platform that was launched in 2018. It caters primarily to more advanced cryptocurrency traders and investors who value privacy and low fees.Some key things to know about TradeOgre:No KYC (Know Your Customer) requirements - users don't need to provide personal information to create an accountSupports...
JSEcoin
JSEcoin is a browser-based cryptocurrency mining software that harnesses a website visitor's CPU power to mine Monero coins. It provides an alternative monetization model for website owners beyond ads and tracking.Here's how it works: Website owners embed a small JavaScript miner on their sites. When visitors browse those sites, the...
Multidoge
Multidoge is a user-friendly light wallet designed specifically for Dogecoin, the popular meme-inspired cryptocurrency. As a light wallet, Multidoge does not require users to download and synchronize the entire Dogecoin blockchain, making it faster and easier to set up compared to a full node wallet.Some key features of Multidoge include:Easy...
Tron (TRX)
Tron (TRX) is a blockchain-based decentralized platform launched in 2017 by the Tron Foundation. It aims to build a decentralized internet and content entertainment ecosystem where users can freely publish, store, and own their data.The Tron protocol enables creators on the platform to freely publish, store, and own their content...
Litecoin
Litecoin (LTC) is a peer-to-peer cryptocurrency that was created in 2011 by Charlie Lee, an ex-Google employee, as an open source project on GitHub. Litecoin is one of the earliest alternative cryptocurrencies (altcoins) and is often referred to as the silver to Bitcoin's gold. Like Bitcoin, Litecoin is decentralized and...
Dogecoin
Dogecoin is an open source peer-to-peer digital currency, favored by Shiba Inu enthusiasts worldwide. What started out as a joke in 2013 has grown into one of the world's most widely used and fastest growing cryptocurrencies.Dogecoin features the face of the popular Shiba Inu dog from the viral 'Doge' meme...
Cardano
Cardano is an open-source, decentralized public blockchain and cryptocurrency project that started in 2015. It was founded by Ethereum co-founder Charles Hoskinson and built through academic rigor and peer-reviewed research by scientists and engineers around the world.The Cardano blockchain operates the Ada cryptocurrency and is designed to be scalable, interoperable,...
Bitcoin Cash
Bitcoin Cash (BCH) is a cryptocurrency that originated as a hard fork of Bitcoin in August 2017. It shares much of the same transaction history as Bitcoin up until the fork. The main difference is an increased block size limit which allows for more transactions to be processed per block.Some...
Basic Attention Token
Basic Attention Token (BAT) is a digital advertising token that was created by Brendan Eich and the team at Brave Software in 2017. The goal of BAT is to fix some of the major issues affecting the digital advertising industry.Some of the problems that BAT aims to solve include:Lack of...
Ethereum
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute scripts using an international network of public nodes. Ethereum's internal currency is called Ether (ETH), and is used to pay for transaction...
NameCoin
NameCoin is an open-source cryptocurrency and technology that was created in 2011. In addition to being a cryptocurrency, NameCoin also serves as an alternative domain name system (DNS) that maps domain names to IP addresses.The main distinguishing feature of NameCoin is that it allows users to register domains that end...
UPlexa
uPlexa is an open-source, decentralized, privacy-oriented cryptocurrency that launched in 2019. It is based on the CryptoNote protocol, similar to Monero, using ring signatures and stealth addresses to enable anonymous transactions.Some key features of uPlexa include:Untraceable payments - Ring signatures and stealth addresses hide the sender, receiver, and amount in...
Stellite
Stellite is an open-source web browser based on the Chromium web browser that emphasizes user privacy and security. Some key features of Stellite include:Built-in ad blocking and tracker blocking to prevent ads and protect user privacyDoes not collect or share any personal user dataEncrypted proxy support and other privacy tools...
Layer Protocol
Layer Protocol is an open network and decentralized communications protocol that enables the private and trustless transmission of data between internet-enabled devices. It includes messaging, payments, decentralized identity, and discovery of data services.Built on a scalable infrastructure of incentivized nodes, Layer Protocol seeks to empower developers to build end-to-end encrypted...
Insolar
Insolar is an open-source enterprise-grade blockchain platform designed to address the key challenges faced by blockchains for business use - scalability, security and performance. It aims to enable seamless and trusted interactions between companies, allow building digital assets and decentralized applications, and facilitate trusted data exchange.Some key features of Insolar...
Feathercoin
Feathercoin is an open source, decentralized cryptocurrency that launched in April 2013. It was created by Peter Bushnell based on the Bitcoin protocol but with some key differences. Like Bitcoin, Feathercoin operates on a proof-of-work consensus algorithm where miners confirm transactions and secure the network in exchange for newly minted...
BlackCoin
BlackCoin is a proof-of-stake cryptocurrency that was launched in February 2014. It was originally based on the proof-of-work cryptocurrency NovaCoin but transitioned to a proof-of-stake consensus algorithm.Some of the key features that BlackCoin aims to offer include:Instant transactions - Transactions are confirmed and processed very quickly, enabling fast payments.Privacy -...
Safecoin
Safecoin is a privacy-focused cryptocurrency and payment network that was launched in 2018. Its main goal is to enable fast, private, and secure digital transactions for people and businesses worldwide.Some key features of Safecoin include:Advanced privacy features - Safecoin uses cryptographic techniques like zero-knowledge proofs and ring signatures to hide...
ZCore
ZCore is an open-source, self-hosted video conferencing and online meeting solution similar to Zoom or GoToMeeting. It can be installed on your own servers or cloud infrastructure to provide greater control, customization, privacy and security.Key features of ZCore include:HD video and audio conferencing for meetings with screen sharingCross-platform support for...
Gridcoin
Gridcoin is an open source cryptocurrency that rewards participants for contributing spare computing power on their personal devices to help solve scientific problems and research projects. It works by integrating a cryptocurrency with the Berkeley Open Infrastructure for Network Computing (BOINC), which is an open-source grid computing network.Unlike Bitcoin mining,...
PENG Coin
PENG Coin is a cryptocurrency that was launched in 2019 with the goal of providing a fast, secure, and energy efficient digital payment option. It operates on its own blockchain using a proof-of-stake consensus mechanism to validate transactions.Some key features of PENG Coin include:High transaction speeds - PENG Coin can...
NovaCoin
NovaCoin is a decentralized cryptocurrency that was launched in February 2014. It uses a hybrid Scrypt proof-of-work and proof-of-stake mining system, allowing both miners and stakers to participate in block verification and receive rewards.Some key features of NovaCoin include:Fast transactions - NovaCoin blocks are generated every 2.5 minutes on average,...
Zcash
Zcash is a decentralized, open-source cryptocurrency launched in 2016 that focuses on privacy and anonymity. Unlike transparent blockchains like Bitcoin where all transactions are publicly visible, Zcash transactions can be shielded to hide the sender, recipient, and value of transactions using advanced cryptographic techniques called zero-knowledge proofs.Some key features of...
Hexxcoin
Hexxcoin is a cryptocurrency and decentralized blockchain network that was launched in 2014 as a fork of Bitcoin. The founders aimed to address some of the limitations of the Bitcoin network by making Hexxcoin transactions faster, more private, and ASIC resistant.Some key features of Hexxcoin include:Uses the X11 hashing algorithm...
Anoncoin
Anoncoin is a decentralized, open source cryptocurrency launched in 2013. It focuses on providing strong privacy and anonymity for its users.Some key features of Anoncoin include:Integration of the Zerocoin protocol to enable fully anonymous transactions.Fast transactions enabled by proof-of-stake consensus.Low transaction fees compared to other privacy coins.Decentralized mining from anywhere...
KIN Cryptocurrency
KIN is a cryptocurrency and platform originally developed in 2017 by the messaging company Kik. The goal of KIN is to create a decentralized ecosystem of digital services where consumers can easily earn and spend a digital currency.Unlike speculative cryptocurrencies like Bitcoin, KIN is designed for everyday transactions in consumer...
Peony Coin
Peony Coin is a decentralized cryptocurrency that was launched in 2021. Its main goal is to enable fast, low-cost payments between peers without the need for banks or other financial intermediaries.It is built on its own blockchain that uses a Proof-of-Stake consensus mechanism to validate transactions. This allows the network...
Groestlcoin
Groestlcoin (GRS) is an open-source, decentralized digital currency that enables instant payments to anyone in the world. It uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.Groestlcoin was launched in March 2014 and it is named after the...
Primecoin
Primecoin is a cryptocurrency that was created in 2013 with the goal of making the proof-of-work mining process actually useful. While Bitcoin mining involves brute force guessing of hashes, Primecoin instead has miners search for special chains of prime numbers. This provides value to science since these prime number chains...
Swarm City
Swarm City is a decentralized peer-to-peer marketplace platform built on the Ethereum blockchain. It aims to enable a sharing economy without centralized control. The platform allows developers and entrepreneurs to build decentralized applications for commerce and collaboration.Some key features of Swarm City include:Decentralized governance - The platform uses blockchain technology...
FairCoin
FairCoin is a decentralized cryptocurrency and payment network that was launched in 2014. It is based on blockchain technology and aims to enable fast, secure, and low-cost financial transactions.A key goal of FairCoin is to build an alternative economic system based on fairness, equality and sustainability. To help achieve this,...
Bytom
Bytom is an open-source protocol for asset management that uses blockchain technology to register, exchange, and trade digital assets. It allows users to register and issue custom digital assets on the Bytom blockchain, as well as easily transfer these assets between different parties.Some key features of Bytom include:Custom Asset Issuance...
Peercoin
Peercoin (PPC) is a pioneering cryptocurrency that was launched in 2012. It utilizes both proof-of-work and proof-of-stake protocols to secure its network. Peercoin aims to be an energy-efficient cryptocurrency as the proof-of-stake protocol allows coins to be minted, or generated, based on the number of coins a user holds, rather...
WebDollar
WebDollar is an open-source cryptocurrency and blockchain platform built to work natively in web browsers. It allows users to mine its native WEBD tokens and develop decentralized applications entirely in the browser, without needing to install any extra software or plugins.Some key features of WebDollar include:Mineable cryptocurrency - Users can...
CureCoin
CureCoin is a cryptocurrency launched in 2014 that utilizes a proof-of-work mining algorithm to reward participants who contribute spare computing power to distributed computing projects focused on medical research, especially Folding@Home. Folding@Home is a distributed computing network organized by Stanford University researchers that allows anyone to donate their unused computing...
