Monero is an untraceable cryptocurrency. Like Bitcoin, a blockchain stores the transactions. But, unlike Bitcoin, they are obfuscated with three expedients. For this reason, it is viral among cybercriminals.
The open-source project Monero was launched in 2014 by his leading developer Riccardo Spagni, arguing that “privacy and anonymity are the most important aspects of electronic cash”.
1) The ring signature
Indeed, to conceal the transactions’ data, Monero uses a ring signature: every transaction is inserted and grouped with other trades, not related. The transfer from user A to user B is mixed with other transfers from other users and moved along the list of transactions, obfuscating the movement’s details.
2) The Ring Confidential Transactions (Ring CT)
3) Stealth Addresses
— Csilla Brimer ❤️🔥🗽🆙 (@CryptoTweetie) July 1, 2021