MONERO - pOki88

Overview

Monero (XMR) is a new privacy-centric cryptocurrency based on the CryptoNote protocol. Monero is competing directly with coins like Darkcoin, AnonCoin, and LibertyCoin in solving the problem of making digital cash transaction anonymous.
CryptoNote features an entirely new code base and is not a fork of Bitcoin. More info about CryptoNote can be found at their website https://cryptonote.org/ CryptoNote uses Ring Signatures to conceal sender identities via mixing and it also has unlikable transactions that is achieved using 1-time keys for each individual payments.
CryptoNote should not be confused with CoinJoin. Although they are both aiming to make digital transaction anonymous, they are two entirely different implementation.

What is CryptoNote?

CryptoNote is the technology that allows creation of highly private egalitarian cryptocurrencies. You can visit their website. The level of anonymity provided by CryptoNote isn’t possible with Bitcoin code base by design. Two of the main features of CryptoNote are ring signatures that mask sender identities by mixing and unlinkable transactions accomplished by creating one-time keys for individual payments. Ring signatures are explained below and you can read the white paper for the details. The images below come from CryptoNote’s website.
A normal signature looks like this. There’s only one participant.
A ring signature obscures identities because it only proves that a signer belongs to a group.
This allows a high level of anonymity in cryptocurrency transactions. You can think of it as decentralized mixing.

What are the features of this coin?

– It uses the CryptoNote code base.
– Started from scratch (i.e. from genesis block).
– Emission schedule has a flatter curve (80% of the coins are mined within 4 years).
– Monero – XMR (monero = coin in the Esperanto language).
– Block target = 60 seconds.
– Penalty-free block size is increased.CryptoNote doesn’t have hard limits: all parameters are adaptive. Max block size is adaptive also. It is recalculated the same way difficulty is. In case miner creates block bigger than 1*CURRENT_MAX_BLOCK_SIZE the penalty is applied to block reward (i.e. block reward is decreased). In case miner creates block bigger than 2*CURRENT_MAX_BLOCK_SIZE such block will not be accepted by network.For blocks below penalty-free block size this logic isn’t applied. I.e. even in the blockchain with all blocks empty you can create a block of this size with full block reward. In reference code this penalty-free block size is 10Kb – this is good for 2-3 private transactions (strong privacy is given with a mixing factor of 5 or more; no privacy is given with 0). It’s better to have a bit more.
– Decimal point has been moved from BCN (18.446 million max supply instead of 184.46 billion). This is purely a UI change – technically there will be 264−1 atomic units (roughly 1019).