Can you dismantle XLM

Monero (XLM) token verification

Define Monero

Monero is a non-leakable, incomprehensible cryptocurrency that was launched in 2014. It is based on the blockchain theory. Blockchains are the fundamental transformation behind digital currency and are basically public protocols of people's financial movements. Anyone can see it.

Blockchains used by Monero

The blockchain used by Monero is 100% confidential, so information such as the sender or recipient details and the transaction amount is completely confidential by hiding the addresses of the parties involved in it.

How can you mine Monero?

In addition to confidentiality, equality is the idea behind the process of mining Monero - the basis for this is that every person is impartial and has the right to equal opportunities. In the early days of Monero, the makers didn't save any shares for themselves and relied on donations and community help to keep the virtual currency moving forward.

The hardware necessary for mining.

Monero strengthens a mining system where people are compensated for the activities by either signing up for mining basins or mining Monero separately. Since no special hardware is required, Monero Mining can be run on any regular computer so you don't have to purchase an expensive ASIC (Application Specific Integrated Circuit). 

What operating systems can be used to mine Monero??

Monero runs on all major systems like Windows, MacOS, Linux, Android and FreeBSD.

How do Monero and Bitcoin differ?

The most famous cryptocurrency is Bitcoin, and although attempts are made to give the personal information privately, pseudonym addresses are actually assigned. These simulated names are created randomly by combining numbers and letters. Bitcoin addresses, pseudo addresses and details of transactions are recorded on blockchains. When the same person conducts different transactions, there is a chance that that person's identity could become known to either friends, family, or even the government.

How Monero's Privacy can be improved.

Ring signatures and stealth addresses are used by Monero to limit privacy issues.

What is a ring signature?

A ring signature is a group of members who use digital signatures. When a transaction is made, a signature from one of the members is used, but it is not disclosed which member signed. Monero takes a combination of the sender's account keys and links them to public secrets on the blockchain to create a ring signature that is both different and individual. The identity of the sender is not disclosed because it is arithmetically impossible to decrypt the keys of the group members that were used to create the complex signature.

What is a stealth address?

A stealth address provides additional confidentiality by creating a unique, random address for every financial movement related to the person receiving it. By using stealth addresses it is possible to hide the reallocation address of a transaction and also the identity of the recipient.

What is RingCT?

Ring Confidential Transactions allows you to hide the transaction amount. As soon as it became known that the information might not be visible to the sender and recipient, the RingCT was set up in January 2017. The RingCT is mandatory for every financial transaction conducted on Monero.