What is Monero
Monero is a top notch cryptocurrency with focussing on private transactions. While most cryptocurrencies like Bitcoin and Ethereal have a public ledger (blockchain), Monero does not. They use different cryptography to hide addresses and transaction from the public. Meaning that Monero’s sending and receiving addresses aren’t linkable to someones identity.
Transactions on the Monero blockchain are confidential and untraceable by default. All transactions and addresses are hidden on their chain. Every Monero user embraces the privacy of other users unlike other cryptocurrencies with public ledgers.
Due the fact that Monero can’t be tainted through previous transactions, it can alway be accepted without any risk of censorship.
The Kovri Project which is currently being build by developers will encrypt en rout transaction via L2P Invisable internet project nodes. This way they obfuscate a transactor’s IP address contributing to the users privacy and protecting against network monitoring.
Monero allows fast, secure, hidden and inexpensive transactions everywhere in the world at any given time. Unlike banks Monero doesn’t hold on to transaction for multiple days. Since Monero is completely decentralized it users don’t risk fraudulent chargeback what’s however. Also meaning that it’s safe from ‘capital control’ – usually caused by measure taken against a traditional currency. Making a currency vulnerable especially in countries with economic instabilities.
What defines Monero’s value?
The value comes from people who are willing to buy Monero. Meaning that if no one wants to buy Monero it will be worthless. The price of Monero increases when demand exceeds supply. And decreases if there’s more supply than demand.