Monero (CURRENCY:XMR) traded down 9.3% against the dollar during the one day period ending at 22:00 PM E.T. on October 26th. During the last seven days, Monero has traded 3% higher against the dollar. Monero has a total market capitalization of $968.69 million and approximately $173.65 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be bought for about $56.06 or 0.00611782 BTC on major cryptocurrency exchanges including Coinroom, BitBay, Waves Decentralized Exchange and Tux Exchange.
Here is how similar cryptocurrencies have performed during the last day:
- Bytecoin (BCN) traded down 7.5% against the dollar and now trades at $0.0004 or 0.00000004 BTC.
- Monero Classic (XMC) traded up 0.9% against the dollar and now trades at $0.35 or 0.00003772 BTC.
- DigitalNote (XDN) traded down 6.2% against the dollar and now trades at $0.0006 or 0.00000007 BTC.
- Aeon (AEON) traded down 3.2% against the dollar and now trades at $0.24 or 0.00002647 BTC.
- BitNewChain (BTN) traded up 0.4% against the dollar and now trades at $0.0125 or 0.00000136 BTC.
- Boolberry (BBR) traded down 5.8% against the dollar and now trades at $0.16 or 0.00001725 BTC.
- BitTube (TUBE) traded 7.3% lower against the dollar and now trades at $0.0092 or 0.00000100 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 3.2% against the dollar and now trades at $0.0027 or 0.00000030 BTC.
- Karbo (KRB) traded 5.7% lower against the dollar and now trades at $0.0590 or 0.00000644 BTC.
XMR 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 17,278,027 coins. 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 Twitter account is @monerocurrency and its Facebook page is accessible here. The official website for Monero 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 traded on these cryptocurrency exchanges: OKEx, Braziliex, TradeOgre, Instant Bitex, BTC Trade UA, Kraken, Bittrex, LiteBit.eu, Liquid, OpenLedger DEX, Stocks.Exchange, BTC-Alpha, Bitbns, Bitfinex, Coinroom, Graviex, DragonEX, Cryptomate, BitBay, Poloniex, SouthXchange, Mercatox, Bithumb, Exrates, Bitlish, Livecoin, Trade Satoshi, Exmo, Ovis, Tux Exchange, Upbit, Binance, Coinut, Coindeal, Bisq, Gate.io, Coinbe, CoinEx, Nanex, Crex24, Huobi, Cryptopia, B2BX, HitBTC and Waves Decentralized Exchange. It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.