Monero Celebrates Five Successful Years in the Crypto Industry

https://www.coinwire.com

Privacy-oriented cryptocurrency Monero has just marked another milestone as it celebrates its fifth anniversary.

As detailed in its announcement, the company has just passed its five-year mark since the first Monero was mined on April 18, 2014, at 6:50 am Eastern Time.

To mark this momentous occasion, Monero’s global community is hosting a number of educational activities, including a meetup in Toronto, a live video conference, as well as an all-day activity to celebrate, discuss, and learn about privacy.

Globally known for its ability to ensure maximum anonymity of financial transactions by using an obfuscated public ledger, Monero is an open-source cryptocurrency that focuses on fungibility, privacy, and decentralization. By default, Monero does not have any identifiable history or origin, allowing the digital asset to be exchanged for any other cryptocurrency, as well as fiat currency.

Individuals and businesses that wish to purchase and sell using digital assets as they do with cash and other private payment methods often prefer using Monero.

Launched in 2014, Monero was originally born as a fork of Bytecoin, one of the early digital currencies anchored on the CryptoNote protocol. Like Bitcoin, the creator behind Cryptonote, Nicolas van Saberhagen, is also pseudonymous.

From its obscure beginning, Monero has since gained significant traction largely for its commitment to provide complete transaction privacy. While transactions with Monero are anonymous, its source code and funding mechanisms are transparent.

As binaryFate, one of Monero’s core team members explained:

“Monero gives you control over the privacy of your digital financial transactions. This privacy is a fundamental human right for individuals and a competitive essential for businesses.”

As such, the company has made protecting user privacy its paramount priority, a mission that has since catapulted Monero as one of the leading cryptocurrencies today. With over 500 developers comprising its global community, Monero is now ranked third in developer count among other crypto projects.

As Monero core team member Luigi highlighted:

“Monero has a great and warm community. This collaboration, our friendship, and the ongoing success of Monero will be celebrated this week—please join us for the festivities and stay with us for the cause.”