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Cryptoindex is a tool for exposure to the cryptomarket and serves as a smart benchmark for all cryptocurrencies. The AI-based Cryptoindex algorithm is continuously analyzing more than 1000 coins applying over 170 factors, processing more than 1 million signals per second to provide a highly sophisticated index of the top 100 coins.
You can find our previous reviews here:
Dash. Review - August 2018. Binance Coin. Review IOTA. Review. August - 2018 NEM.Overview Ethereum Classic.Review TRON overview. Cardano - review. Future plans. Ripple - review. Further Perspectives Litecoin. June'18 overview The Dow Jones index. From where did it come to us? Bitcoin Cash. June 2018 overview Are cryptocurrency indices a new crypto market trend? EOS. End of May'18 overview Ethereum. May 2018 overview
Here on our Cryptoindex blog, we will be posting 100 articles about each of the top performing coins selected by our powerful AI algorithm#CIX100coinreview.
Today’s review: Monero
What is Monero?
This name cryptocurrency has received from the word "coin" in the language of Esperanto. Cryptocurrency appeared on April 18, 2014, as Bytecoin fork (not Bitcoin). The release of the coin caused increased interest from the crypto community after announcing by the developers the Roadmap and the Whitepaper. The essence of the project was to make the cryptocurrency anonymous.
But on the other hand, the creation of such cryptocurrency attracted the attention of law enforcement agencies, including Europol. As an argument that was brought to the attention of developers, it was that Monero could become a good means of payment on the black market for drugs trade.
The FBI also speaks with the same statement, pointing out that Monero is in the TOP of the crypto-currency on the black market:
At the time of writing, Monero is ranked 11th by the capitalization in Coinmarketcap.com
How does it work?
Monero is mostly an open source software that uses the principle of proof-of-work. But unlike Bitcoin, Monero emission is not limited. That's why the developers did it so that the miners would ensure the system's operation even after the emission was completed.
The developers of Monero have made a lot of efforts to make their cryptocurrency secure. To achieve a high result, special measures were taken:
Among the miners, it’s in high demand, due to anonymity for mining on other people's computers and servers. Recently, there have been more cases when Monero was noticed in the code of many viruses. The power of many computers around the world is used to extract this particular cryptocurrency, in particular, this happened last year in London, where scammers used the hacked government servers for mining.
Also Monero, right along with Bitcoin, Zcash and Dash is the most used cryptocurrency in Darknet. A particularly favored method of money laundering is the so-called "mixer". The principle of its work is that the money received illegally is sent to the exchange where Bitcoin coins are purchased, for which the Monero tokens are then purchased and then the attacker can safely transfer to any stock exchange, to a pre-established account and receive money in any form convenient for him.
Advantages of Monero
Now the developers are actively working to promote the currency. Given the high anonymity and growth in demand, success is entirely assured. The anonymity of Monero transactions is not absolute. If the attacker controls a large part of the network, then under certain circumstances, he can deanonymize some of the transactions.
At the time this article was published, Monero [XMR] is 0.812% of the total of CryptoIndex portfolio. You can always check the current CIX100 composition at our MVP platform: http://cryptoindex.ai/
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While Binance’s decision to screen users using privacy wallets may be disconcerting for those that heavily value anonymity, there is a valid concern that so-called mixers can be used by criminals. Per previous reports from Blockonomi , Luxembourg-based crypto data firm Clain found earlier this month that around two-thirds of the 7,000 Bitcoin swiped in the May hack of Binance has been ... Bitcoin mixers give people a chance to take control of their privacy and keep their transactional history anonymous. There are many risks associated with mixers, especially when it comes to giving over control of your funds. However, the industry has a lot of reliable and trustworthy blenders that deliver what they promise. Whether centralized or decentralized, the choice is ultimately yours. Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019 . Nilesh Maurya Bitcoin News December 19, 2018 Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019. Fiat crypto exchanges have been an extremely important element of the cryptocurrency ecosystem as they help onboard new users and investors. CZ and Team Binance ... Eines der lukrativsten Merkmale von Bitcoin war die Tatsache, dass es anonyme Transaktionen unter seinen Benutzern ermöglichte. Nach seiner Einführung im Jahr 2009 hielten viele Benutzer innerhalb des Krypto-Bereichs Bitcoin-Transaktionen für sicher und privat. Der Krypto-Raum hat sich jedoch weiterentwickelt, und die Anonymität von Transaktionen ist in der Branche zu einem großen Problem ... Many CoinJoin solutions provide a decentralized alternative to mixers. Though there may be a coordinator involved, users don’t need to sacrifice custody of their funds. What is a CoinJoin? CoinJoin transactions were initially proposed by Bitcoin developer Gregory Maxwell in 2013. In his thread, he gives a brief overview of how these ... This is not the first year that BitMix.Biz has been the best Bitcoin mixer and it will probably remain so in 2020. This is proved by that on the Internet there are many fakes posing as BitMix.Biz. What bitcoin mixers do you recommend? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy ...
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