Monero (XMR) is an open-source digital currency that emphasizes on privacy, decentralization, and expandability. Monero uses a public registry to monitor transactions while new units are made by mining. It aims to improve on existing digital currency design by hiding sender, recipient and amount of transactions made as well as making the mining process more unbiased. Transactions are confirmed by a general agreement, and then immutably recorded on the blockchain. Third parties do not need to be trusted to keep your Monero safe. It provides all the benefits of a decentralized cryptocurrency, without any of the typical privacy concessions. Monero uses a proof-of-work algorithm that aims to be available for a huge variation of processors, a specification that was included to ensure that mining was accesible to many different parties instead of just mining pools. The mining block time is roughly two minutes.
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