How to buy Monero (XMR)
What is Monero (XMR)
Monero (XMR) is a Proof of Work blockchain forked from Bytecoin in 2012. The network focuses heavily on user privacy, meaning that addresses, transaction amounts, wallet balances, and transaction histories are hidden from third parties.
Monero’s consensus mechanism favors CPU-based mining rather than GPU or specialized mining hardware. Its block sizes also are dynamic and respond to network demand. Over time, the XMR mining reward for each block will decrease but reach a minimum amount to keep incentivizing miners. This mechanism means that there is no limit to the supply of XMR available. XMR is primarily used as a payment method and also for network fees.
Monero’s development is open to anyone who wants to participate, but changes to the network need agreement from more than half of the network’s validators.