On Monday, the Monero (XMR) crypto was up 5.01 reaching the $132.66 level, with the overall market down 2.86%. The XMR coin also made a 135% profit in trading volume, coming up at number 27 as the most traded crypto according to Coinmarketcap.com. Why is Monero (XMR) rising and what’s next to come for the bullish XMR coin?
*What is Monero (XMR)?
*
Monero (XMR) was first launched in 2014. It is the first-ever privacy-focused network designed to hide senders’ and recipients’ sensitive information, such as their identities. Based on a CryptoNode transaction protocol, Monero (XMR) focuses on eliminating the most dangerous bottleneck of cryptocurrencies – their traceability.
With first-gen cryptocurrencies, transaction history might be traced back on the open-source blockchain. Monero (XMR), in turn, makes it so the source is concealed.
*Why is Monero (XMR) up?
*
InvestorsObserver gave Monero (XMR) a bullish rating according to the website’s sentiment score. This is due to the fact that the XMR coin has been trading higher than its overall performance over the past few weeks. According to the Monero (XMR) community, on April 20th, the blockchain announced a network update to be performed on July 16, which could play a significant role in the XMR coin’s current bullish traction.
While it is still unclear whether Monero (XMR) will continue to grow, it is important to consider all risks associated with investing in volatile cryptocurrencies.
*How does Monero (XMR) crypto guarantee blockchain privacy?
*
The Monero (XMR) blockchain utilizes Ring Confidential Transactions (Ring CT), ZK-proofs, IP obfuscation, and Stealth addresses to make the transactions untraceable. For instance, Ring CT signs transactions with multi-layered completely anonymous group signatures; whereas Stealth Addresses makes it possible to create one-time addresses for performing transactions.
For Monero (XMR) blockchain, privacy remains the most important issue; however, the network also offers a user-friendly interface, efficient transactions, and other robust features.
*Utilize Monero with GetBlock
*
For Monero (XMR) users, GetBlock offers one of the best nodes to buy with Shared and Dedicated nodes options for the Monero blockchain. Via GetBlock, buying blockchain nodes has never been easier.
Monero Shared nodes provide a peer-shared node architecture for all crypto entrepreneurs to experiment with their software products under real blockchain conditions.
Monero Dedicated nodes as a service is the perfect solution for detail-oriented businesses, where API-driven technology is the basis of success.
GetBlock’s full blockchain nodes list includes over 40 leading networks. If you wish to learn more about investing in blockchain nodes, how nodes work in blockchain or check out our crypto nodes review, please visit GetBlock.io and do not hesitate to contact us via this link.
Top comments (0)