Monero Achieves Market Cap of $1.76 Billion (CRYPTO:XMR)

Monero (CURRENCY:XMR) traded 1% higher against the U.S. dollar during the twenty-four hour period ending at 9:00 AM Eastern on August 19th. Monero has a total market cap of $1.76 billion and $30.37 million worth of Monero was traded on exchanges in the last 24 hours. Over the last week, Monero has traded down 21.9% against the U.S. dollar. One Monero coin can now be purchased for $107.34 or 0.01703961 BTC on major exchanges including BTC-Alpha, Bittrex, Coinroom and BTC Trade UA.

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

  • Bytecoin (BCN) traded 1.9% lower against the dollar and now trades at $0.0020 or 0.00000032 BTC.
  • DigitalNote (XDN) traded 6.4% higher against the dollar and now trades at $0.0030 or 0.00000048 BTC.
  • Aeon (AEON) traded 6.5% lower against the dollar and now trades at $0.72 or 0.00011505 BTC.
  • BitNewChain (BTN) traded down 1.3% against the dollar and now trades at $0.0536 or 0.00000852 BTC.
  • Boolberry (BBR) traded down 0.8% against the dollar and now trades at $0.49 or 0.00007829 BTC.
  • BitTube (TUBE) traded 0.7% higher against the dollar and now trades at $0.0624 or 0.00000991 BTC.
  • Stellite (XTL) traded 16.8% higher against the dollar and now trades at $0.0002 or 0.00000003 BTC.
  • Karbo (KRB) traded down 2.6% against the dollar and now trades at $0.16 or 0.00002561 BTC.
  • UltraNote Coin (XUN) traded 9.4% lower against the dollar and now trades at $0.0006 or 0.00000010 BTC.
  • Sumokoin (SUMO) traded down 0.2% against the dollar and now trades at $0.10 or 0.00001610 BTC.

About Monero

Monero (XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its genesis date was June 2nd, 2014. Monero’s total supply is 16,397,209 coins. 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 message board for Monero is forum.getmonero.org. 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 bought or sold on the following cryptocurrency exchanges: LiteBit.eu, Bitlish, Coinut, Kraken, BTC Trade UA, Trade Satoshi, Bisq, Liquid, Upbit, Mercatox, BTC-Alpha, Ovis, Bitfinex, Cryptomate, Stocks.Exchange, TradeOgre, B2BX, Huobi, Exmo, Nanex, Tux Exchange, Bittrex, Exrates, Livecoin, Coinroom, DragonEX, OKEx, OpenLedger DEX, BitBay, Binance, Braziliex, Coindeal, Bitbns, Cryptopia, Gate.io, Bithumb, Crex24, Poloniex, Graviex, CoinEx, SouthXchange, Instant Bitex, HitBTC, Coinbe 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the aforementioned exchanges.

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