Monero (XMR) Reaches Market Cap of $2.08 Billion

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Monero (CURRENCY:XMR) traded 7% lower against the US dollar during the one day period ending at 10:00 AM ET on September 5th. Monero has a total market cap of $2.08 billion and $49.80 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be bought for $127.02 or 0.01802687 BTC on exchanges including Cryptopia, SouthXchange, Exrates and LiteBit.eu. During the last week, Monero has traded 22.3% higher against the US dollar.

Here’s how related cryptocurrencies have performed during the last 24 hours:

  • Bytecoin (BCN) traded 3.4% lower against the dollar and now trades at $0.0025 or 0.00000035 BTC.
  • DigitalNote (XDN) traded down 10.9% against the dollar and now trades at $0.0032 or 0.00000046 BTC.
  • Aeon (AEON) traded 14.4% lower against the dollar and now trades at $0.89 or 0.00012631 BTC.
  • BitNewChain (BTN) traded 0.4% lower against the dollar and now trades at $0.0545 or 0.00000775 BTC.
  • Boolberry (BBR) traded 12.5% lower against the dollar and now trades at $0.61 or 0.00008600 BTC.
  • BitTube (TUBE) traded down 14.2% against the dollar and now trades at $0.0528 or 0.00000749 BTC.
  • Karbo (KRB) traded 5.6% lower against the dollar and now trades at $0.18 or 0.00002593 BTC.
  • Stellite (XTL) traded down 9.6% against the dollar and now trades at $0.0002 or 0.00000003 BTC.
  • UltraNote Coin (XUN) traded down 11.5% against the dollar and now trades at $0.0008 or 0.00000011 BTC.
  • Sumokoin (SUMO) traded 4.4% lower against the dollar and now trades at $0.11 or 0.00001610 BTC.

Monero Coin Profile

Monero (CRYPTO: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 16,380,235 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. The official website for Monero is www.monero.cc. 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. “

Monero Coin Trading

Monero can be purchased on the following cryptocurrency exchanges: Waves Decentralized Exchange, Coinroom, Bithumb, Instant Bitex, Livecoin, BTC Trade UA, Bisq, Nanex, Bittrex, OKEx, Exmo, Poloniex, OpenLedger DEX, Cryptomate, Qryptos, Tux Exchange, Stocks.Exchange, Upbit, Coindeal, SouthXchange, Kraken, Braziliex, BTC-Alpha, Huobi, Gate.io, Bitbns, Coinbe, Exrates, Binance, HitBTC, Graviex, Crex24, DragonEX, B2BX, LiteBit.eu, Bitlish, Bitfinex, Coinut, Ovis, Mercatox, Trade Satoshi, TradeOgre, BitBay, CoinEx and Cryptopia. It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.

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