We live in an age where much of our lives are online, and privacy has become an important issue. In some countries with oppressive governments, or where censorship exists, privacy can even mean the difference between life and death. This is where Monero comes into play and ensures privacy for the people.
Monero is a fungible cryptocurrency that focuses on anonymizing transactions and establishes a private, censorship-resistant token that can be used to transfer value around the world. Through the use of a powerful privacy-focused protocol known as CryptoNote, Monero has been able to show that transactions of value can indeed remain private from prying eyes.
What Does Monero Do?
To better understand what Monero does, here is a comparison of Bitcoin and Monero in Figure 1…