Purpose: Anonymous digital cash
Price for 1 XMR157,19 $
Rank: 31 - Market Cap: 2,84 bn $
- Coin with the highest level of privacy
- Sender, receiver, transaction amount and address are all anonymous
- Flexible block size (the more transactions, the larger the block)
- Each transaction is sliced into many small partial transfers of random size.
- The partial transfers are then passed from person A to person B via many different transaction pools.
- Many other transactions are sent to these pools (protected by secret ring signatures) at the same time (for example, from person C, D, E, F, ...).
- The recipient B and the other recipients (for example M, N, O, P, ...) then take the respective partial amounts of their transaction from it. Thus, a certain amount of money (or Monero) flows into these transaction pools and the same amount flows out again.
- How much each individual transaction was and who sent it can then no longer be traced.
- Amounts sent are sent to randomly selected, once-valid addresses and the recipient is given a secret key, known only to them, to find this address.
- The principle is similar to a treasure map. Whoever knows where the money is, owns it. To do this, the recipient's wallet must search the entire blockchain to find the transaction.
- The blockchain stores only the transaction ID and not the "treasure card owner." Thus, the recipient is encrypted and the transaction is untraceable.