When was Monero issued? Learn about the origin of Monero in one article

Monero, a privacy-focused cryptocurrency built on the Cryptonote protocol, emerged from the Bytecoin codebase in April 2014 under the name "BitMonero."

Oct 04, 2024 at 04:06 am

Monero: A Comprehensive Guide to Its Origin

1. The Genesis of Monero

Monero, a privacy-focused cryptocurrency, originated from the Bytecoin codebase in April 2014. It was initially launched under the name "BitMonero," which was later shortened to Monero.

2. The Cryptonote Protocol

Monero is built on the Cryptonote protocol, which provides enhanced privacy and untraceability. This protocol introduces several features, including:

• Ring Signatures: Hide the identity of the sender and recipient in transactions.
• Stealth Addresses: Allow one-time use addresses to prevent linking transactions.
• RingCT: Obfuscates the amounts sent in transactions.

3. The Monero Community

Monero is driven by a passionate community of developers, researchers, and enthusiasts. The core team behind Monero is based on a decentralized and anonymous structure, ensuring the project's integrity.

4. Key Milestones in Monero's History

Over the years, Monero has undergone several significant developments:

• January 2017: Released Monero v0.11, introducing the Kovri network for secure P2P connections.
• October 2018: Implemented Multisig, allowing multiple users to authorize transactions.
• December 2020: Launched atomic swaps, enabling cross-chain interoperability with other cryptocurrencies.

5. Monero Today

As of April 2023, Monero has a market capitalization of over $3 billion, ranking among the top 30 cryptocurrencies by market cap. It continues to be a popular choice for individuals seeking financial privacy and censorship resistance.

6. The Future of Monero

Monero is actively being developed, with ongoing research and improvements focusing on:

• Enhancing privacy features
• Increasing scalability
• Empowering user experience