Home Monero Monero (XMR) Reaches Market Capitalization of $738.11 Million – Fairfield Current

Monero (XMR) Reaches Market Capitalization of $738.11 Million – Fairfield Current

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Monero logoMonero (CURRENCY:XMR) traded 4.4% higher against the US dollar during the 24 hour period ending at 9:00 AM E.T. on December 11th. Over the last seven days, Monero has traded up 2.5% against the US dollar. One Monero coin can currently be purchased for approximately $44.32 or 0.01241052 BTC on popular exchanges including Kraken, Cryptopia, Bitlish and Ovis. Monero has a market cap of $738.11 million and $12.13 million worth of Monero was traded on exchanges in the last day.

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

  • Bytecoin (BCN) traded up 5% against the dollar and now trades at $0.0006 or 0.00000017 BTC.
  • DigitalNote (XDN) traded 9.8% higher against the dollar and now trades at $0.0012 or 0.00000032 BTC.
  • Boolberry (BBR) traded 14.9% higher against the dollar and now trades at $0.50 or 0.00014000 BTC.
  • BitNewChain (BTN) traded 6.4% higher against the dollar and now trades at $0.0335 or 0.00000938 BTC.
  • Aeon (AEON) traded down 1.7% against the dollar and now trades at $0.28 or 0.00007826 BTC.
  • BitTube (TUBE) traded up 7% against the dollar and now trades at $0.0318 or 0.00000890 BTC.
  • Stellite (XTL) traded 13.1% lower against the dollar and now trades at $0.0002 or 0.00000005 BTC.
  • UltraNote Coin (XUN) traded 81.9% higher against the dollar and now trades at $0.0001 or 0.00000004 BTC.
  • Karbo (KRB) traded 2% higher against the dollar and now trades at $0.0633 or 0.00001771 BTC.
  • Sumokoin (SUMO) traded 5.3% higher against the dollar and now trades at $0.0418 or 0.00001170 BTC.

Monero Profile

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 16,654,111 coins. Monero’s official website is www.monero.cc. 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. Monero’s official message board is forum.getmonero.org.

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 traded on the following cryptocurrency exchanges: Exmo, TradeOgre, BTC-Alpha, Coinbe, Binance, Livecoin, Bithumb, Crex24, OpenLedger DEX, Bisq, OKEx, Bittrex, DragonEX, Gate.io, B2BX, BitBay, Cryptomate, Bitfinex, Coinroom, Ovis, Poloniex, BTC Trade UA, Tux Exchange, Cryptopia, Nanex, HitBTC, LiteBit.eu, SouthXchange, Graviex, Bitbns, Exrates, Stocks.Exchange, Trade Satoshi, Coinut, Coindeal, Huobi, Kraken, Upbit, Braziliex, Bitlish, CoinEx, Instant Bitex, Liquid, Mercatox and Waves Decentralized Exchange. It is usually not 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 Gemini, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.

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