Monero (XMR)

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Monero was founded in 2014 with a clear purpose in mind: to allow transactions to be performed secretly and securely. Despite the belief that BTC can be used to conceal a person's identity, because blockchains are transparent, it is typically possible to track payments back to their original source. XMR, on the other hand, is meant to conceal both senders and recipients using powerful cryptography.

According to the Monero team, privacy and security are their top goals, with usability and efficiency following in second. It aims to safeguard all users, regardless of their level of technological capability.

Overall, XMR wants to make it possible to send money fast, cheaply, and without worrying about being censored.

Initially, Monero was developed by seven people, five of whom opted to remain anonymous. There have been allegations that Satoshi Nakamoto, the creator of Bitcoin, also created XMR.

The beginnings of XMR may be traced back to Bytecoin, a privacy-focused and decentralised cryptocurrency that was created in 2012. Two years later, a member of the Bitcointalk forum identified only as thankfulfortoday modified BCN's core, resulting in the birth of Monero. They had proposed "controversial modifications" to Bytecoin that others in the community disagreed with, so they decided to take matters into their own hands.

It's estimated that hundreds of developers have worked on XMR throughout the years.

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