Private Cryptocurrency Monero Celebrates Fifth Anniversary

LOS ANGELES, April 16, 2019 /PRNewswire/ -- Monero's global community this week celebrates five successful years with meetings and celebrations.

Privacy-focused Monero—known for financial transactions hidden by encryption—is a fungible cryptocurrency. Monero amounts by default don't have a knowable history or origin, so any Monero is exchangeable for any other, like with cash. Individuals and businesses that want to buy and sell with cryptocurrency as they do with cash and other private payment methods often choose Monero.

"Monero gives you control over the privacy of your digital financial transactions," said binaryFate, member of Monero's core team. "This privacy is a fundamental human right for individuals and a competitive essential for businesses."

Just five years ago, on April 18, 2014, at 6:50 am Eastern Time, the first Monero was mined. It was created as a fork of Bytecoin, an early cryptocurrency based on the CryptoNote protocol. In a parallel with Bitcoin, CryptoNote's creator, Nicolas van Saberhagen, is unknown and mysterious.

From its obscure background, Monero grew with an obsession on private transactions combined with openness in the protocol and source code. The commitment to maximum privacy maintains Monero's dominant position among private cryptocurrencies. Transactions with Monero are secret by default, and the secrecy is cryptographic and trustless. Yet the source code for Monero and the funding mechanisms for its continual improvement are transparent, enabling selfless commitment by the many programmers, contributors, and enthusiasts supporting it.

With its maximum-privacy goal and vibrant community, Monero is positioned today as a leading cryptocurrency. Monero's over 500 developers place it third in developer count among cryptocurrencies. The highly regarded Monero Research Lab invents and develops improvements and provides audits.

Monero has a mission. It protects the privacy and rights of people across the globe, serving mankind as the digital equivalent of cash. People every day spend and receive Monero, feeling confident, protected, free, and unwatched.

Planned events for the anniversary celebration include educational and fun activities. The Monero community will have a meetup in Toronto. There will be live video conferences. And the Vienna-based institute RIAT will hold all-day activities on April 18, opening their doors as a place to celebrate, discuss, and learn about privacy.

"Monero has a great and warm community," said Luigi, Monero core team member. "This collaboration, our friendship, and the ongoing success of Monero will be celebrated this week—please join us for the festivities and stay with us for the cause."

For additional information, contact Justin Ehrenhofer at [email protected].

About Monero

Monero was launched in April 2014. It was a fair, pre-announced launch of the CryptoNote reference code. There was no premine or instamine, and no portion of the block reward goes to development. Since launch, ongoing improvements have provided better security and privacy and made Monero easier to use. Monero continues to develop with the goals of privacy and security as uncompromised priorities.

Monero Outreach is a semi-autonomous workgroup separate from Monero's Core Team.

SOURCE Monero Outreach

Related Links

https://www.monerooutreach.org