Updated Details Monro XMR
What is Monero ?
Monero is a secure, private, untraceable currency. It is open-source and freely available to all.
With Monero, you are your own bank. Only you control and are responsible for your funds, and your accounts and transactions are kept private from prying eyes.
Want to find out more? An overview of Monero's main features are below. If you'd like to try Monero for yourself the Getting Started section is an excellent launching point.
the power of a distributed peer-to-peer consensus
network, every transaction is cryptographically secured. Individual accounts
have a 25 word mnemonic
Account files are encrypted with a passphrase to ensure they are worthless if
Monero uses a cryptographically sound system that allows you to send and receive funds without your transactions being publicly visible on the blockchain (the distributed ledger of transactions). This ensures that your purchases, receipts, and other transfers remain private by default.
By taking advantage of ring signatures , a special property of certain types of cryptography, Monero enables untraceable transactions . This means it's ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to particular user.
To most people, financial privacy is very important. Yet in recent years, we have seen a staggering amount of big corporations, banks and governments having their records compromised, at every time leaking information about their users, their practices, their balance sheets. The unfortunate but undeniable conclusion is that there is no safe place to conduct private transactions.
There was no safe place to conduct private transactions. Monero provides a place where your financial activities are private . Monero is one of the leading cryptocurrencies in the post-Bitcoin world, and it is built on principles of privacy, decentralization, and scalability.
From an economic point of view, a currency needs to be fungible. Fungibility is a property of money that makes all units "equal". Without fungibility, money flows can be tracked and tainted, making it very difficult to use the digital tokens as money.
Monero is a secure, private, untraceable currency. It is open-source and freely available to all. It’s fairly launched on april 18th 2014, without premine or instamine . The Monero technology already spiked the interest of several established people in the bitcoin development world and cryptography community. The development is completely based on donations, community driven and with a strong focus on decentralization and scalability. With Monero, you are your own bank. Only you control and are responsible for your funds, and your accounts and transactions are kept private from prying eyes.
Read on to find out how Monero is helping to solve real problems and limitations of existing cryptocurrencies, and building a more private blockchain.
Monero seeks to provide absolute transactional privacy in an effort to create true electronic cash. With Bitcoin, as well as with the vast majority of cryptocurrencies that have been established since, any and all transactions are entirely traceable. Any casual observer can read through the Bitcoin blockchain , and for any transaction, this observer can find out the exact amount that was transacted, as well as the precise transaction origin (sender address) and destination (recipient address).
With Monero, for any private transaction, the same observer has no means to uncover the origin, destination, or amount transacted. As such, transactions on the Monero blockchain, are private and fundamentally untraceable.
But Monero is more than a currency. Driving the official slogan: “secure, private, untraceable” , there are a multitude of applications where the parties involved wish to remain private. The Monero blockchain can keep confidential contracts confidential. While the forthcoming, blockchain-powered internet of things will certainly place the cloud all around us, it is then increasingly important that open access tools exist to provide a secure boundary for private settlements.
An often overlooked, but nonetheless important layer of privacy in a connected world, is that of the networking infrastructure. We have teamed up with Privacy Solutions, and development is well underway to incorporate an i2p router in Monero. In a world where ill intentioned governments and ISPs can void an individual’s basic privacy rights on a whim, it then becomes necessary to establish a private communication platform.
The underlying technologies and cryptography upon which Monero is built, has been (and continues to be) the subject of extensive analysis and review by numerous individuals and research groups. It has garnered favorable attention by some of the most prominent figures of the Bitcoin & cryptography world, such as Andrew Poelstra (andytoshi), Gregory Maxwell & Nicolas Courtois.
With Monero, transactions are private by default. However, each user has the ability to select different levels of privacy, optionally disclosing their transaction information, or even provide audit access (view only) to his full Monero account.
While most cryptocurrencies align to theoretical principles of decentralization, the reality is that most fall short of such a claim. More often than not, it is not just one branch of a cryptocurrency system that is centralized in one form or another, is that that many branches are so.
With Proof of Stake currencies, irregular emission and distribution models cause most of the staking power to end up in the hand of a privileged few. Participants of lesser weight are reduced to second class citizens, with little chance of ever obtaining similar returns.
With Proof of Work currencies, of which Bitcoin remains the most significant reference, the mining process is largely concentrated in a handful of pools. This centralization of mining power, combined with a transparent blockchain, has already lead to various occurrences of transaction censorship.
Other currencies opt for a closed development model, thus centralizing the invention process itself. These closed platforms commonly fail to meet any form of public audit or expert review. More importantly, these are platforms that will anytime swing left and right, in order to satisfy the interests of the restricted group that holds control of development.
Monero contrasts with these examples in various and meaningful ways. Monero is powered strictly by Proof of Work, but specifically, it employs a mining algorithm that has the potential to be efficiently tasked to billions of existing devices ( any modern x86 CPU). This very characteristic, and more so once it is coupled with @Smart Mining, has the potential to ensure that for long years to come, the process of mining new Monero coins is within reach of the common individual, and not an exclusive opportunity to the owners of large mining operations.
Further, as transactions are private by default on the Monero blockchain, transaction censorship is inherently void. The Monero development landscape on the other hand, is very much the opposite of a closed or restricted access model. The core branch currently enjoys more than 30 contributors, pushing 1000+ comm its over the past year. The project is happy to take on new contributors and any future plans, long-term direction and priorities are openly discussed with the community. Indeed, the policy that governs contribution to the Monero codebase is exhaustingly inclusive - all contributions are accepted into the development branch, where new code can be scrutinized and tested by the entire community.
Most contributors in the Monero development landscape are quite passionate for an open source philosophy, and in this rich creative environment, new projects have sparked to life. OpenAlias is one notable example, which has seen adoption by (amongst others) a major Bitcoin related software product.
One of the problems with cryptocurrencies is scaleability. Most cryptocurrencies are derived from the Bitcoin codebase and thus have a " block size limit". This limit has become a big issue in the bitcoin community and lead to fierce discussions. Monero doesn't suffer from this block size debate, because it has a dynamic block size limit. This limit is automatically recalculated regularly based on a look-back window. A penalty system prevents out of control growth of the block size. Another issue with most cryptocurrencies is the development of a fee market. This issue is somewhat linked to the block size debate: the narrative is that when you limit the block size, a fee market will eventually develop. But this claim is highly debatable. When the transaction fees are supposed to be the main incentive for miners to secure the blockchain, it is possible the current consensus model will not be sustainable. At the moment, miners still act as they are expected: they mine on the longest chain. When they don't do that, they risk loosing the block reward. But when that block reward becomes small compared to the mining fees, it's possible miners will have an incentive to not mine on the longest chain and start a fork trying to "steal" high transaction fees which were included in the latest blocks. Therefore, monero implements a "permanent block reward". T he block reward will never drop below 0.3 XMR, making monero a disinflationary currenc y: the inflation will be roughly 1% in 2022 and go down forever, but the nominal inflation will stay at 0.3 XMR per minute. This means that there will always be an incentive for miners to mine m onero and thus keeping the blockchain secure, with or without a fee market.
is an important property of any functioning currency. You can try to hide your bitcoins as much as you want, if you tried to mix your non-fungible coins using a mixer, coinjoin or another type of "anonymity enhancing feature",
these transactions can still be flagged as "possible suspicious activity on the blockchain", even if you are anonymous. Using non-fungible tokens as currency can eventually lead to blacklisting/whitelisting either by
governments or through self-censorship. Some examples of these measures could be payment processors or exchanges refusing your tainted coins as a payment or deposit or miners refusing to include your suspicious transaction. Monero will
enforce a minimum mixing across the network, so all outputs are mixed by default. This is possible due to the nature of the mixing: monero mixing is "passive" and can even be done offline! Transaction outputs have "plausible deniability"
about their state: you can't tell if they are spent or unspent in a certain transaction or not. This leads to an opaque ( non-transparent) blockchain making all coins "equal". Fungibility is built into Monero at protocol level, making it real "digital cash" .
- PoW algorithm: CryptoNight 
- Max supply: Infinite (see note below) 
- Block reward: Smoothly varying 
- Block time: 120 seconds
- Difficulty: Retargets at every block
 CPU + GPU mining (about 1:1 performance for now). Memory-bound by design using AES encryption and several SHA-3 candidates.
 Initial number of atomic units is M = 264 - 1. However, once the block reward reaches 0.3 XMR per minute (sometime in 2022) that is treated as the minimum subsidy, which means that Monero's total emission will forever increase by ~157680 XMR annually.
 Uses a recurrence relation. Block reward = (M - A) * 2-20 * 10-12, where A = current circulation. Roughly 86% mined in 4 years ( see graph).
All Monero Downloads
Please visit: How to choose a Monero client
CPU, open source - Wolf`'s CPU miner.
CPU, closed source - yvg1900 - Yam M8a Miner New version - use at your own risk.
GPU, open source - Tsiv Nvidia GPU Miner (based on ccminer) Early in development - Thanks Tsiv!
GPU, closed source - Claymore AMD GPU miner - Early in development - use at your own risk.
The Monero Research Lab:
MRL research papers
MRL-0001: A Note on Chain Reactions in Traceability in CryptoNote 2.0
MRL-0002: Counterfeiting via Merkle Tree Exploits within Virtual Currencies Employing the CryptoNote Protocol
MRL-0003: Monero is Not That Mysterious
MRL-0004: Improving Obfuscation in the CryptoNote Protocol
MRL-0005: Ring Signature Confidential Transactions
The People Behind Monero
The Monero Core Team
Monero is not governed by any foundation or central body, but ongoing development, maintenance, and research is primarily directed and often funded by a core team of seven individuals.
Five members of the Core Team prefer to stay pseudonymous at this time, but two of them are more public and have revealed their real identities. For ease of reference those two members (Riccardo and Francisco) are at the top of the list below, but beyond that the list is presented in no particular order:
- Riccardo "fluffypony" Spagni ([email protected] / @fluffyponyza): Based out of South Africa, Riccardo brings a strong business acumen and a deep understanding of cryptocurrency, software development, and cryptography to the table. He has been involved with cryptocurrency-related projects since 2012.
- Francisco "ArticMine" Cabañas ([email protected]): Based in Canada, Francisco holds a PhD in Physics and brings extensive business and non-profit experience to the table. He has actively researched and invested in cryptocurrencies, since 2011, and focuses on the economic, social, regulatory and long-term viability aspects of cryptocurrencies.
- smooth ([email protected]): A software developer, entrepreneur, and investor, smooth has been involved in several cryptocurrency projects since 2011, including development of the first multicurrency exchange (initially supporting Bitcoin and Namecoin). By virtue of his long-standing involvement in the cryptocurrency community, he is well known and trusted by many.
- othe ([email protected]): Based in Germany, othe has been interested in cryptocurrency since early 2011. Currently he works as an independent consultant for various cryptocurrency-related businesses. He is known for his previous work as a core Vertcoin developer.
- luigi1111 ([email protected]): Hailing from the Midwest, USA, luigi1111 is a sysadmin by day. He has been actively involved in several cryptocurrencies since 2013, and loves cryptography, probability, and English grammar.
- tacotime ([email protected]): A bioinformatics enthusiast and software developer from Toronto, tacotime has been involved in cryptocurrency since 2011. He is well known for his work on MC2, a hybrid PoS/PoW cryptocurrency, and his contributions to various Conformal projects such as btcd.
- NoodleDoodle ([email protected]): A former Silicon Valley engineer, NoodleDoodle is a seasoned hardware and software developer. He started his involvement with cryptocurrencies in 2012 and currently spends his time working on "cool aerospace stuff" for a university.
There have been many individuals that have contributed to Monero code; a complete list of which can be found on our Github Contributors page.
The Monero Research Lab
The Core Team forms an integral part of the Monero Research Lab, but the researchers, scientists, and academics that are primarily focused on Monero research are listed below. They have chosen to remain pseudonymous for the moment. They are:
- Surae Noether: Lead researcher for the Monero Research Lab, Surae holds a PhD in Mathematical Sciences and brings a rich understanding of cryptography and homological algebra to the mix.
- Shen Noether: A graduate student focused on algebraic geometry, it is Shen's command and knowledge of cryptography that lends itself so well to his involvement in the Monero Research Lab.
- Sarang Noether: Having completed his Masters in Mathematical Sciences, Sarang is currently completing his doctoral degree in Physics, while devoting time on the side to the advancement of Monero research.
There have been massive contributions to Monero from its inception from so many people, including: zone117x, LucasJones, wolf`, Professor David Andersen, wallet42, Neozaru, Gingeropolous, cAPSLOCK, and many, many others.
Welcome to http://pool.monero.org mining!
Point your miners to pool.monero.org
CPUMiner (forked by LucasJones & Wolf) - MINERD
minerd -a cryptonight -o stratum+tcp://pool.monero.org:3333 -u YOUR_WALLET_ADDRESS -p x
YAM Miner (by yvg1900)
yam -c x -M stratum+tcp://YOUR_WALLET_ADDRESS:[email protected]:3333/xmr
Claymore CPU Miner
NsCpuCNMiner64 -o stratum+tcp://pool.monero.org:3333 -u YOUR_WALLET_ADDRESS -p x
Claymore GPU Miner
NsGpuCNMiner -o stratum+tcp://pool.monero.org:3333 -u YOUR_WALLET_ADDRESS -p x
ccminer (forked by tsiv)
ccminer -o stratum+tcp://pool.monero.org:3333 -u YOUR_WALLET_ADDRESS -p x<br />
Block Found: 3 minutes ago
Blockchain Height: 1135953
Last Reward: 10.6247 XMR
Last Hash: c5c0b640c9053...
Hash Rate: 6.99 KH/sec
Block Found: Never
Connected Miners: 13
Total Pool Fee: 0%
Block Found Every: 7 days (est.
This is the official thread of http://xmr.coolpool.io/
We're already one week old, and these are the numbers:
- 20+ miners
- 120KH/s hashing power right now
- 15 blocks mined
- 100+ payments
What else you need to know about us?
- 0% Fee while in beta
- Running on cool hardware: Dell PowerEdge R610 with 2 x L5640 hexa-core CPUs, 16GB of RAM and a brand new SSD disk located on the East Coast, near North Carolina, US
- Firewall passthrough on port 443
What do we need to know from you?
- How did you start mining Monero?
- What mining pool do you currently use?
- How exactly did you chose your current mining pool?
- Are there any features you would like to find implemented by your ideal mining pool?
wolf-xmr-miner Release 0.4
Fixes lots of bugs with newer drivers - also adds a slight speedup, and many improvements like CPU mining from hyc.
Ultra fast FREE Monero mining pool:
Point your miner to port 443: minerd -a cryptonight -o stratum+tcp://mine.xmr-pool.com:443 -u YourMoneroAdressHere -t x (where x is your number of cores).
0.0% commission until pool first birthday (2017/09/21)
Light, stable and reliable.
8 cores dedicated server: ultra fast!
2,5 Gbps unmetered bandwidth: low latency.
Firewall passtrought mining port: 443.
24/24 monitored pool.
Anonymous mining (no registration needed).