Monero (CURRENCY:XMR) traded down 1.4% against the dollar during the twenty-four hour period ending at 7:00 AM ET on October 13th. One Monero coin can now be purchased for approximately $53.36 or 0.00636603 BTC on cryptocurrency exchanges including Poloniex, Nanex, Bitfinex and Gate.io. Monero has a total market cap of $920.82 million and approximately $70.34 million worth of Monero was traded on exchanges in the last 24 hours. In the last seven days, Monero has traded 5% lower against the dollar.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- Bytecoin (BCN) traded 9.1% higher against the dollar and now trades at $0.0005 or 0.00000005 BTC.
- Monero Classic (XMC) traded up 0.3% against the dollar and now trades at $0.35 or 0.00004193 BTC.
- DigitalNote (XDN) traded down 2.3% against the dollar and now trades at $0.0008 or 0.00000009 BTC.
- Aeon (AEON) traded 3.6% lower against the dollar and now trades at $0.16 or 0.00001907 BTC.
- BitNewChain (BTN) traded down 23.5% against the dollar and now trades at $0.0138 or 0.00000164 BTC.
- BitTube (TUBE) traded up 8% against the dollar and now trades at $0.0103 or 0.00000123 BTC.
- Boolberry (BBR) traded 9.5% lower against the dollar and now trades at $0.15 or 0.00001747 BTC.
- Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Karbo (KRB) traded up 1.2% against the dollar and now trades at $0.0567 or 0.00000676 BTC.
- Digital Insurance Token (DIT) traded down 19.7% against the dollar and now trades at $0.0015 or 0.00000018 BTC.
XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 2nd, 2014. Monero’s total supply is 17,256,046 coins. Monero’s official website is www.monero.cc. 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 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 purchased on the following cryptocurrency exchanges: Tux Exchange, Coinbe, BTC Trade UA, LiteBit.eu, OKEx, Instant Bitex, Exmo, Bittrex, Liquid, Nanex, Cryptomate, OpenLedger DEX, Huobi, Braziliex, Crex24, CoinEx, Binance, DragonEX, Graviex, Ovis, Poloniex, Upbit, Cryptopia, Bitbns, Kraken, B2BX, Trade Satoshi, BitBay, Coindeal, Waves Decentralized Exchange, Livecoin, BTC-Alpha, SouthXchange, Coinroom, Bisq, Bitlish, Bitfinex, Gate.io, Bithumb, TradeOgre, HitBTC, Stocks.Exchange, Exrates, Mercatox and Coinut. It is usually not currently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the aforementioned exchanges.
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