2018-8-29 12:30 |
There is a popular belief among people that cryptocurrencies are private and untraceable, explaining their association with illegal transactions. In truth though, this is not the case, for example with bitcoin, all transactions are recorded on a public ledger (blockchain) which allows for anyone to view and verify transactions.
Monero, however, is not like bitcoin but is rather focused on untraceability. According to Monero’s website, “Monero is a secure, private, untraceable currency. ” The currency uses a special cryptography to ensure privacy making all transactions untraceable.
Continue reading Guide To Understanding Monero at Crypto Daily™.
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