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What is Monero and How Does it Achieve Privacy? - Edge

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Monero(XMR) is a privacy focused cryptocurrency. The Monero project was announced in April 2014 by an anonymous founder and has gained in prominence ever since. Monero is one of the few blockchains that isn’t just a “fork” or copy of the Bitcoin source code with alterations, but rather Monero uses two early cryptocurrency projects’ code bases, which were built from scratch: CryptoNote/Bytecoin. The CryptoNote code base is where Monero gets its famous Ring Signatures, which we will get to later. Like Bitcoin, Monero’s community is very focused on censorship resistance. Monero, like Bitcoin, has a community ethos of decentralization and also uses Proof of Work mining to secure the Monero blockchain. The Monero blockchain differentiates itself from Bitcoin with more robust privacy guarantees. Although there are no accounts or identities when using the Bitcoin blockchain, it is incredibly transparent and auditable by design. Bitcoin is not anonymous like many in the media wrongly proclaim

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