XMR - Monero course, Forecast and Quotations
Monero (XMR), together with Bitcoin (BTC) and Ethereum (ETH) is one of the most popular cryptocurrencies. It provides a high level of privacy, because the addresses of recipients and senders are hidden. The name itself - Monero - comes from the Esperanto language and means a coin.
The Monero currency entered the market in April 2014. Its creator is unknown and it is developed by developers. XMR is not limited by any legal regulations and its mining is not centralized, hence it may be mined by normal users.
Monero was created as a fork of Bytecoin and initially it was called Bitmonero, which in Esperanto language meant the same as Bitcoin. It is based on the same protocol as its older (and more popular) brother, CryptoNight. It is mined with the Proof of Work method, just like Bitcoin. The Crypto-Night algorithm was written with the idea of enabling cryptocurrency miners an effective mining by using every x86 processor. Mining Monero on the GPU is currently the most effective.
At the beginning, the price of Monero was low, a common case amongst every new cryptocurrency - $0.25 - it was in January 2015. In May 2017, similarly to other popular digital currencies, Monero reached the level of $65 only to jump to the price of over $150 in August of the same year. The upward trend continued until December, when the Monero exchange rate reached $475 . When compared to Bitcoin, its rate was just 0.028. This is the record level of the XRM course, which so far has not been repeated. Throughout an entire 2018, the Monero rate was slowly declining. Currently, the price of this currency is approx. $42, or PLN 158.
Forecasts for Monero are very positive - upward trends are pushing this currency up. The reason standing behind it is probably the extraordinary privacy of XRM. Launched by default are functions allowing private transactions that are under automatic protection. Monero takes care of hiding the transaction addresses, making finding the recipients and senders impossible. What's more, the developers made sure that it would be possible to hide the amounts of money transferred.