Monero Cryptocurrency using CryptoNight algorithm is number one when cryptocurrencies aiming on absolute anonymity are concerned. Its anonymity is ensured through so-called Cryptonote protocol, which merges public keys into groups, so no-one could tell from which user and from which site they originate. Because of this anonymity, it is used on online markets, where this quality is of great relevance to users.
Monero cryptocurrency blockchain is therefore untraceable and the use on metioned markets is the reason for the growth of its price. That is why Monero is often conncted with illegal trades. What is also interesting, is that developer updates of the site are dependant only on financial contribution of users.
Considering the popularity of this cryptocurrency it is a proof, that its user base is very strong. Users within the site are also able to vote oabout new updates. Unlike Bitcoin, one can still mine this cryptocurrency using general processor unit, or graphic processor unit.
The authorization of transactions is due every 120 seconds. This is not usual for other cryptocurrencies. However, it is not a derivate of the bitcoin site. This site was created by the split of Bytecoin site.
Algorithm: CryptoNight (PoW)
Emitted Units: 15,104,906
Total Units: Limitless