Monero (CURRENCY:XMR) traded up 4.7% against the U.S. dollar during the twenty-four hour period ending at 12:00 PM ET on August 13th. Monero has a market capitalization of $1.68 billion and approximately $27.49 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be purchased for about $102.81 or 0.01463574 BTC on exchanges including B2BX, Coinut, Mercatox and Livecoin. In the last seven days, Monero has traded up 8.9% against the U.S. dollar.
Here’s how similar cryptocurrencies have performed in the last day:
- Bytecoin (BCN) traded 19.3% higher against the dollar and now trades at $0.0022 or 0.00000032 BTC.
- DigitalNote (XDN) traded up 4.2% against the dollar and now trades at $0.0029 or 0.00000041 BTC.
- Aeon (AEON) traded 9.7% higher against the dollar and now trades at $0.76 or 0.00010802 BTC.
- Boolberry (BBR) traded up 25% against the dollar and now trades at $0.63 or 0.00008999 BTC.
- BitTube (TUBE) traded up 2.3% against the dollar and now trades at $0.0378 or 0.00000538 BTC.
- Karbo (KRB) traded up 4.7% against the dollar and now trades at $0.18 or 0.00002561 BTC.
- Stellite (XTL) traded 1.7% higher against the dollar and now trades at $0.0002 or 0.00000003 BTC.
- UltraNote Coin (XUN) traded down 11% against the dollar and now trades at $0.0007 or 0.00000010 BTC.
- Sumokoin (SUMO) traded up 4% against the dollar and now trades at $0.11 or 0.00001610 BTC.
- Leviar (XLC) traded 30.6% higher against the dollar and now trades at $0.0083 or 0.00000118 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 16,357,501 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. The official message board for Monero is forum.getmonero.org. Monero’s official website is www.monero.cc. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible 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 traded on the following cryptocurrency exchanges: Cryptopia, Kraken, Poloniex, CoinEx, OKEx, SouthXchange, Coinut, Upbit, DragonEX, Coinroom, Braziliex, Stocks.Exchange, Ovis, B2BX, BTC-Alpha, Mercatox, LiteBit.eu, Exmo, Coindeal, Exrates, Bisq, Coinbe, BitBay, Livecoin, Graviex, Bittrex, HitBTC, Instant Bitex, BTC Trade UA, Nanex, Bitfinex, TradeOgre, Qryptos, Tux Exchange, Trade Satoshi, Bitlish, Gate.io, Waves Decentralized Exchange, Huobi, Cryptomate, Bitbns, OpenLedger DEX, Crex24, Binance and Bithumb. It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.
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