Monero is a digital currency whose main focus is on anonymity, its market symbol is" XMR ". Since its launch in 2014, it has progressed gradually, and slowly became one of the leading decentralized currencies today. Developers and the community focused primarily on improving its code to ensure a high level of privacy and anonymity.
Many good people showed great enthusiasm and appreciation for the currency. They include Vladimir Van Der Laan, Petkoin developer Peter Todd, a well-known cryptographer, and Andrew Poelstra, who also contributed greatly to the development of Bitcoin.
Monero like Bitcoin and other distributed currencies serves as a decentralized payment system through which it is possible to purchase products and pay for various services. In addition to trading against other distributed currencies.
The main advantage of the currency is to give the user absolute anonymity. The currency includes a number of highly complex cryptographic methods, allowing it to give exceptional privacy. In this article we will review the techniques that the currency uses to provide anonymity.
Hidden addresses "stealth addresses"
Reuse of the same address is one of the common anonymity problems in distributed currencies, including Bitcoin. When you receive multiple payments using a single address, anyone who knows about that address can easily track their incoming and outgoing transactions.
Different addresses in your wallet can be easily linked, because of the way that distributed currencies deal with excess. In Monroe, all destination addresses are hidden in the block so that only the sender and the recipient can identify them. Any search in the currency block will not reveal the exact destination address you use to receive funds.
What does look like in Blockchain is the cryptographic "fire" of the destination address. The sender and recipient are the only ones who can decode the "hash" to reveal the actual destination address. These hidden addresses are called "stealth addresses" .
Separation of transfers
When Monroe is sent to any particular address, it will be taken to several separate payment units. For example, if we send Monroe 18, it will show about three different transfers of 10, 5 and 3 XMR. All these transfers will be recorded separately on the Blockkin as if they were transferred separately to different addresses.
This technique also applies to all the "surplus" that is returned to the sender or the sending fees paid to the reactors. Which makes it impossible to track the amounts sent.
Ring Signature "Ring Signature"
The signature of a ring uses your keys to sign the transfer, and a signature is added to the signature of the Blockchain. So there is no way of determining which of the signatories is really the one who carried out the transfer.
The downside
The main disadvantage of using these technologies on the currency is the size of the Blockchain. The more information about the Blockchain, the more he weighs. Which could be a problem in the future currency.
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