crushcrypto crusher of the month - december 2017: monero (xmr) · on the dark web, replacing...

Crusher of the Month – December 2017:

Monero (XMR)

Private and untraceable cryptocurrency

December 13, 2017

PROJECT OVERVIEW

What is Monero?

• Monero is a cryptocurrency that was launched in

2014. The use of ring signatures is one of its

defining attributes. In a ring signature, a group of

users sign off on a transaction, but only one user in

the group actually owns that monero.

• If anyone wants to track a particular transaction,

they can see that one user in the group sent the

transaction, but they do not know which user sent

it specifically. Therefore, it is nearly impossible to

trace transactions on the Monero network.

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PROJECT OVERVIEW

Key features of Monero

• Secure: Decentralized with immutable

transactions.

• Private: Use of ring signatures, ring confidential

transactions and stealth addresses.

• Untraceable: Transactions cannot be linked to a

specific user and the sender/receiver cannot be

identified.

• Fungible: Specific units cannot be blacklisted.



PROJECT OVERVIEW

Money supply and block reward


MONEY SUPPLY(Bitcoin: One block per 9.4 min)

BLOCK REWARD(Per 9.4 min)


PROJECT OVERVIEW

Coin information


• Ticker: XMR

• Listing date: May 21, 2014

• Markets: Bithumb, Bitfinex, HitBTC, Poloniex, Bittrex,

Binance, Kraken, Livecoin, Exmo, BTC-Alpha, etc.

• Circulating market cap: US$4.6 billion

• Circulating token supply: 15,473,510 XMR

• 7-day average volume: $253 million

• % of circulating market cap: 5.5%

• Historical high: US$319.90 (December 12, 2017)

• Historical low: US$0.21 (January 14, 2015)

• Current price: US$296.89


PROJECT OVERVIEW

Price Chart


Source: Coinmarketcap

XMR HISTORICAL MARKET CAP AND PRICE MOVEMENTS

Market Cap (USD B)

Price (USD)

Price (BTC)

24h Volume


WHY DO WE LIKE IT?

#1 – Increasing scrutiny from governments

• Increasing scrutiny and regulations from

governments around the world leads to greater

demand for privacy coins.

• Many are introducing or planning to introduce

restrictions or regulations to control as well as collect

taxes from the boom.

• More and more users will be concerned with their

anonymity in the use of cryptocurrencies.

• Very few people want to have their financial

transaction history exposed for others to see and we

foresee privacy coins to have wider adoption in the

near future.



WHY DO WE LIKE IT?

#2 – Competitive edge

• We believe Monero is superior to other privacy

coins mainly due to their private-by-default feature.

• If only a small percentage of the transactions in a

network is shielded, it makes those transactions

stick out like a sore thumb. This is why we believe

the mandatory privacy nature of Monero is the best

structure to maintain absolute privacy.



WHY DO WE LIKE IT?

#2 – Competitive edge


Monero Dash Zcash PIVX

Ticker XMR DASH ZEC PIVX

Date of listing May 2014 February 2014 October 2016 February 2016

Market cap $4.6 billion $6.7 billion $1.1 billion $266 million

Circulating supply 15,473,510 7,751,039 2,827,131 55,112,050

Maximum supply18.4M + 0.3 XMR per

min (year 2022+)

18.9M (after 100+

years)

21M (after 100+

years)

No max. (~312M

after 100 years)

Consensus algorithm Proof of Work (PoW) Proof of Work (PoW) Proof of Work (PoW)Proof of Stake (PoS

3.0)

Ring signatures Y N N N

Stealth addresses Y N Y N


WHY DO WE LIKE IT?

#3 – Robust development roadmap

• Monero is an open source project without the

backing of any centralized organization.

• Any developer can contribute to the project

and some even receive funding from the

community if there is enough support.

• There are regular, scheduled hard forks to

upgrade the protocol.

• The community has been very united and

none of the hard forks were contentious. As a

result, Monero has been able to improve and

make big changes over the years.



WHY DO WE LIKE IT?

#3 – Robust development roadmap

• Major developments in the near future:

• Shrinkage of transaction sizes by over 80%

• Multi-signature support

• Mobile wallet

• Kovri development which hides IP addresses

• Upcoming tasks:

• Kovri alpha release

• Additional MRL research papers

• Second-layer solutions for speed and

scalability

• More efficient range proofs for RingCT to

reduce transaction sizes



WHY DO WE LIKE IT?

#4 – Increasing adoption

• Monero is increasingly being used for transactions

on the dark web, replacing Bitcoin as the

transaction fees for Bitcoin has skyrocketed.

• The currency is also seeing increasing adoption by

mainstream merchants. For example, it is accepted

by 45 musicians including Mariah Carey and Sia

during the holiday season.

• Ledger Wallet and Trezor are working on

supporting Monero. When it is completed, it will be

far easier for investors to safely store their monero

in a hardware wallet.



MORE INFORMATION

Resources

• Website: https://getmonero.org/

• Reddit: https://www.reddit.com/r/Monero/

• GitHub: https://github.com/monero-project

• Interview with Riccardo Spagni, lead maintainer of Monero, by Jimmy

Song: https://www.youtube.com/watch?v=FRdGe9kNBRI

• Interview with Monero team by Crypto

Rand: https://medium.com/@cryptorand/interview-with-monero-team-xmr-

9c94e56ad912

• Weekly newsletter on Monero development: http://monero-observer.com/


https://getmonero.org/

https://www.reddit.com/r/Monero/

https://github.com/monero-project

https://www.youtube.com/watch?v=FRdGe9kNBRI

https://medium.com/@cryptorand/interview-with-monero-team-xmr-9c94e56ad912

http://monero-observer.com/


crushcrypto crusher of the month - december 2017: monero (xmr) · on the dark web, replacing...

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