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Monero is a private decentralized cryptocurrency that obfuscates the 3 parts of any transaction – the sender is obfuscated through ring signatures, the amount sent is obfuscated through RingCT and the receiver is obfuscated through stealth addresses. Monero uses XMR as its currency.
That’s it! If you want a more detailed explanation about Monero, watch the complete video. Here’s what I’ll cover:
0:47 – Privacy vs. Anonymity
1:14 – Bitcoin’s privacy and anonymity
1:50 – Monero in a nutshell
2:20 – Reasons for a privacy coin
4:18 – Monero vs. Dash and Zcash
4:33 – How Monero works
4:52 – Ring signatures
5:11 – RingCT
5:36 – Stealth addresses
6:18 – Kovri
6:47 – XMR explained
8:14 – Conclusion
