Monero is a cryptocurrency like bitcoin, but with a focus on privacy and anonymity. Monero was launched in 2014 and is today competing in the top 20 cryptocurrency list based on market share. XMR is a secure, privately located and untraceable cryptocoin. Because of these properties, it is loved in the underworld and is mainly used to send transactions through the dark web. This is made possible by the technique of ‘ring signatures’. Ring signatures ensure that the public encryption keys of the users mix up, as it were, so that the transaction can no longer be traced back. Nor does the user have to worry about overloading the network. This is due to the dynamic structure of the blocks on the blockchain where the network adapts to the amount of transactions. Competitors of Monero are DASH, Zcash, PIVX and Verge.
