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Cryptoindex is a tool for exposure to the cryptomarket and serves as a smart benchmark for all cryptocurrencies. The AI-based Cryptoindex algorithm is continuously analyzing more than 1000 coins applying over 170 factors, processing more than 1 million signals per second to provide a highly sophisticated index of the top 100 coins.
You can find our previous reviews here:
Dash. Review - August 2018. Binance Coin. Review IOTA. Review. August - 2018 NEM.Overview Ethereum Classic.Review TRON overview. Cardano - review. Future plans. Ripple - review. Further Perspectives Litecoin. June'18 overview The Dow Jones index. From where did it come to us? Bitcoin Cash. June 2018 overview Are cryptocurrency indices a new crypto market trend? EOS. End of May'18 overview Ethereum. May 2018 overview
Here on our Cryptoindex blog, we will be posting 100 articles about each of the top performing coins selected by our powerful AI algorithm#CIX100coinreview.
Today’s review: Monero
What is Monero?
This name cryptocurrency has received from the word "coin" in the language of Esperanto. Cryptocurrency appeared on April 18, 2014, as Bytecoin fork (not Bitcoin). The release of the coin caused increased interest from the crypto community after announcing by the developers the Roadmap and the Whitepaper. The essence of the project was to make the cryptocurrency anonymous.
But on the other hand, the creation of such cryptocurrency attracted the attention of law enforcement agencies, including Europol. As an argument that was brought to the attention of developers, it was that Monero could become a good means of payment on the black market for drugs trade.
The FBI also speaks with the same statement, pointing out that Monero is in the TOP of the crypto-currency on the black market:
At the time of writing, Monero is ranked 11th by the capitalization in Coinmarketcap.com
How does it work?
Monero is mostly an open source software that uses the principle of proof-of-work. But unlike Bitcoin, Monero emission is not limited. That's why the developers did it so that the miners would ensure the system's operation even after the emission was completed.
The developers of Monero have made a lot of efforts to make their cryptocurrency secure. To achieve a high result, special measures were taken:
Among the miners, it’s in high demand, due to anonymity for mining on other people's computers and servers. Recently, there have been more cases when Monero was noticed in the code of many viruses. The power of many computers around the world is used to extract this particular cryptocurrency, in particular, this happened last year in London, where scammers used the hacked government servers for mining.
Also Monero, right along with Bitcoin, Zcash and Dash is the most used cryptocurrency in Darknet. A particularly favored method of money laundering is the so-called "mixer". The principle of its work is that the money received illegally is sent to the exchange where Bitcoin coins are purchased, for which the Monero tokens are then purchased and then the attacker can safely transfer to any stock exchange, to a pre-established account and receive money in any form convenient for him.
Advantages of Monero
Now the developers are actively working to promote the currency. Given the high anonymity and growth in demand, success is entirely assured. The anonymity of Monero transactions is not absolute. If the attacker controls a large part of the network, then under certain circumstances, he can deanonymize some of the transactions.
At the time this article was published, Monero [XMR] is 0.812% of the total of CryptoIndex portfolio. You can always check the current CIX100 composition at our MVP platform: http://cryptoindex.ai/
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An additional aspect to consider when using a mixer is that IP and Bitcoin addresses might be logged by a third party. Ultimately, users give up control of their funds in the hopes of receiving unlinked ones back. An arguably more interesting approach exists in the form of CoinJoin transactions, which create a significant degree of plausible deniability. That is to say that, after a CoinJoin ... The letter of guarantee acts as proof should there be a failure in returning funds after mixing. Moreover, Bitcoin Mixer does not store logs or collect personal data about the user and is completely automated. Decentralized Mixers. Decentralized mixers are peer to peer mixing services available on more advanced blockchain platforms. This is not the first year that BitMix.Biz has been the best Bitcoin mixer and it will probably remain so in 2020. This is proved by that on the Internet there are many fakes posing as BitMix.Biz. Bitcoinmix.org – Der beste Bitcoin-Mixer für Nicht-Dark-Web-Benutzer Es gibt eine wachsende Nachfrage nach besserer Anonymität von Bitcoin online. Um diese Nachfrage zu befriedigen, ist der neue Mischdienst Bitcoinmix.org einer der ersten, der für regelmäßige (nicht-dunkle Web-)Nutzer verfügbar ist. Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019. Nilesh Maurya Bitcoin News December 19, 2018 Binance Plans to Launch Its Decentralized Exchange (DEX) And 10 More Fiat Exchanges in 2019. Fiat crypto exchanges have been an extremely important element of the cryptocurrency ecosystem as they help onboard new users and investors. CZ and Team Binance ... The letter of guarantee acts as proof should there be a failure in returning funds after mixing. Moreover, Bitcoin Mixer does not store logs or collect personal data about the user and is completely automated. Decentralized Mixers. Decentralized mixers are peer to peer mixing services available on more advanced blockchain platforms. FinestMixer.io is the bitcoin mixer or bitcoin tumbler, the service that complicates or makes nearly unattainable monitoring of your transactions in bitcoin community. Bitcoin mixer or bitcoin tumbler breaks connection between your previous and new handle sending cash from you to different individuals and their cash to you. So your transactions turn out to be … Earn passive income with Quadency trading bot. Connect Binance account and use Quadency bot for 6 months completely free. Hurry up, this deal is not around for long! So anyone who has always wondered how to move anonymously in the Bitcoin network will find ways and means to remain more anonymous as a Bitcoin user in the following. Crypto-exchanges require a KYC process. In order to establish a ... Bitcoin Mixing services can be broadly categorized into centralized and decentralized. In the centralized bitcoin mixing model, the user enters his address in a form available on the mixing ... Bitcoin Mixer does exactly what its name sounds like, but it also does a lot more. In addition to mixing up your BTC , the service can do the same with LTC and ETH , providing privacy for three of ...
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