Monero (“Coin” – Esperanto) (XMR) – is an crypto currency with an open source code, based on the blockchain technology. It was created in April 2014. It works on Windows, Mac, Linux, Android and FreeBSD. Unlike crypto-currencies, which are derived from Bitcoin, Monero is based on the Crypto Note protocol and has significant algorithmic differences related to obfuscating (“mixing”) of the data inside the blockchain.
It is denoted by the XMR code. Mining of Monero is based on the principle of PoW (Proof-of-work): the miners receive a reward for solving cryptographic problems, as a result of which a new block is added to the blockchain every two minutes. In this case, unlike many other crypto currencies, Monero emission is not limited.
Features of Monero
- Stealth Address
- Public view key
- Limited supply
Some common problems of Monero, We fix-
- Unable to send a Monero.
- Unable to receive a Monero.
- Monero hacking issue.
- Unable to deposit and withdraw USD.
- Hacking a payment gateway.
- Users address error.
- My password does not work.
- Trouble connecting with the server.
- Loss of a wallet file.
- Wallet balance doesn’t show.
- Unable to mine Monero.
- Unable to send Monero from my account.
- Two-factor authentication failed.
- “Connection Error” message.
- Unable to open the Monero wallet.
- Trouble signing in account.
- Unable to sell and buy Monero.
- Unable to cash Monero.
Pros and Cons of Monero
- Three different technologies makes it very private to use
- There is no blocksize limit
- No one can tell where the funds came, In other words it is untraceable
- Transaction sizes on its blockchain is larger than other Cryptocurrency
- So many similar projects with many users
Monero doesn’t have a technical support number. You can search your problems or issues to their help forum and community sites.
The main difference between Monero and other crypto-currencies is the use of Crypto Note protocol for encrypting of transactions. This protocol works on the principle of ring signature, in which any member of any closed group can leave the electronic signature – but the person who did it will never be known. Also, the protocol provides passive mixing of the transactions themselves so that they are all anonymous. However, anonymity requires large resources, primarily memory: Monero transactions take up on average 8 times as much space as Bitcoin’s transactions take. As of mid-October 2017, the Monero exchange rate is $ 95.14.
The market capitalization in the amount of $ 1.447 billion approximates the crypto currency closely to the top ten in terms of this indication.