Monero (XMR) Market Cap Reaches $4.38 Billion

Monero (XMR) traded up 2.5% against the US dollar during the one day period ending at 0:00 AM Eastern on April 17th. Over the last week, Monero has traded up 2.3% against the US dollar. One Monero coin can now be bought for about $241.62 or 0.00606318 BTC on popular exchanges. Monero has a market capitalization of $4.38 billion and $172.93 million worth of Monero was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

  • Bytecoin (BCN) traded down 0.5% against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • Infinitus Token (INF) traded flat against the dollar and now trades at $0.15 or 0.00000374 BTC.
  • Monero Classic (XMC) traded 0.4% higher against the dollar and now trades at $0.33 or 0.00000829 BTC.
  • Sumokoin (SUMO) traded 4.6% lower against the dollar and now trades at $0.0377 or 0.00000095 BTC.
  • DigitalNote (XDN) traded up 0% against the dollar and now trades at $0.0002 or 0.00000000 BTC.
  • Aeon (AEON) traded 12.3% lower against the dollar and now trades at $0.0594 or 0.00000149 BTC.
  • Karbo (KRB) traded 5.5% higher against the dollar and now trades at $0.0893 or 0.00000224 BTC.
  • Digital Insurance Token (DIT) traded 1.2% lower against the dollar and now trades at $0.0033 or 0.00000008 BTC.
  • BitNewChain (BTN) traded flat against the dollar and now trades at $0.0025 or 0.00000005 BTC.
  • BitTube (TUBE) traded up 59.8% against the dollar and now trades at $0.0008 or 0.00000002 BTC.

About Monero

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 18,108,969 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official website is ww.getmonero.org. The official message board for Monero is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed 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

It is usually not possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first buy 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 buy Monero using one of the aforementioned exchanges.

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