Monero (CURRENCY:XMR) traded down 0.8% against the dollar during the 24-hour period ending at 8:00 AM ET on August 20th. One Monero coin can currently be bought for $86.41 or 0.00810664 BTC on cryptocurrency exchanges including Cryptopia, Coindeal, Bisq and Coinroom. During the last seven days, Monero has traded down 2.5% against the dollar. Monero has a market capitalization of $1.48 billion and approximately $73.35 million worth of Monero was traded on exchanges in the last day.
Here is how similar cryptocurrencies have performed during the last day:
- Bytecoin (BCN) traded 4.2% higher against the dollar and now trades at $0.0006 or 0.00000006 BTC.
- Aeon (AEON) traded down 3.9% against the dollar and now trades at $0.71 or 0.00006674 BTC.
- Boolberry (BBR) traded down 0.4% against the dollar and now trades at $0.46 or 0.00004308 BTC.
- DigitalNote (XDN) traded 0.4% lower against the dollar and now trades at $0.0007 or 0.00000007 BTC.
- BitNewChain (BTN) traded 1.7% lower against the dollar and now trades at $0.0226 or 0.00000212 BTC.
- BitTube (TUBE) traded down 2.3% against the dollar and now trades at $0.0143 or 0.00000134 BTC.
- Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Digital Insurance Token (DIT) traded up 11% against the dollar and now trades at $0.0036 or 0.00000034 BTC.
- Karbo (KRB) traded 0.5% lower against the dollar and now trades at $0.0781 or 0.00000733 BTC.
- Sumokoin (SUMO) traded 4.2% lower against the dollar and now trades at $0.0377 or 0.00000354 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 17,164,598 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official website is www.monero.cc.
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 bought or sold on these cryptocurrency exchanges: Liquid, Kraken, Exrates, Instant Bitex, OpenLedger DEX, Stocks.Exchange, Braziliex, Graviex, Poloniex, BitBay, Bitbns, Cryptopia, Coinut, TradeOgre, BTC-Alpha, BTC Trade UA, Upbit, Exmo, Gate.io, Coinbe, Coinroom, Mercatox, Nanex, Crex24, Bithumb, Livecoin, SouthXchange, OKEx, HitBTC, Coindeal, Bittrex, LiteBit.eu, Binance, Cryptomate, Bisq, CoinEx, Bitlish, Bitfinex, Waves Decentralized Exchange, DragonEX, Huobi, Tux Exchange, Ovis, B2BX and Trade Satoshi. It is usually not possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the exchanges listed above.
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