Monero (XMR) is an open source decentralized and anonymized cryptocurrency. It is based on the CryptoNote protocol - ring signatures technology. Monero was created in April 2014 by the developers Riccardo Spagni and Francisco Cabanas. The cryptocurrency name means the word "Coin" in Esperanto.

The technology of ring signatures implies the presence of a user group, one of which signes with anonymous signature with its unique key. After creating the signature it is not possible to determine the owner of the key and also to define the author of the signature since from the external environment it is not known exactly who signed it. The CryptoNote protocol uses this technology to hide the sender and go along with the one-time addresses accordance to hide the recipient.

Monero features

1. Unlimited scalability.
2. Uses a different type of cryptography from Bitcoin.
3. Untracked cryptocurrency - you can not view the details of the transaction. Personal data is protected.
4. The "spend key" function. You can provide a third person with keys for viewing transactions you have made without access to funds. Necessary to ensure the audit.