On the 18th April 2014, the genesis block of Monero was mined. Now, the cryptocurrency community is celebrating XMR turning five years old with events, meetings and hundreds of posts on social networks. Guarda Wallet team joins the hype and wishes Monero the happiest of birthdays.
To know the one we are celebrating a little bit better, we will break down the history and establishment of XMR cryptocurrency is this article. With Bitcoin turning 10 earlier this year, the crypto community can’t help but reflect on how far our favourite coins have progressed during their growth period. Monero is a great example of how a privacy-centred cryptocurrency can greatly advance since the launch – both from the technical and from people support side.
Development of Monero
Currently, XMR is on top of the charts, being both one of the largest projects by market capitalisation and the most famous privacy coin. Besides outstanding community work and raising awareness, Monero developers have reached the technical progress heights. Recently, they have activated Bulletproofs (and became the first project to do so) and made transactions way cheaper.
Unlike the main competitors in the privacy field, XMR started out as a fork of Bytecoin. Bytecoin, in turn, was an implementation of the CryptoNote protocol. With this, Monero makes its best out ring signatures and one-time keys, both masking the sender’s identity and making the transactions unlinkable.
We can definitely state that the combination of factors mentioned above makes Monero one of the most advanced projects in the crypto space. We all will see what Monero team has in store for this year of existence – after all, being five years old means passing through the infancy phase and going to the new fantastic world of possibilities. Guarda Wallet is glad to be a part of this journey by supporting XMR in our wallets and working closely with XMR community.
Bottoms up to a new year and we wish Monero prosperity and success on this day!