Monero

Monero
Denominations
Pluralmoneroj
CodeXMR
Precision10−12
Subunits
 1⁄1000millinero
 1⁄1000000000000piconero
Development
Original author(s)Nicolas van Saberhagen
White paper"CryptoNote v 2.0"
Initial release18 April 2014 (2014-04-18)
Latest release0.18.4.2 / 26 August 2025 (2025-08-26)
Code repositorygithub.com/monero-project/
Development statusActive
Project fork ofBytecoin[a]
Written inC++
Operating systemLinux, Windows, macOS, Android, FreeBSD
Source modelFOSS
LicenseMIT License
Ledger
Timestamping schemeProof-of-work
Hash functionRandomX
Block rewardXMR 0.6 ≥[1]
Block time2 minutes
Circulating supply>18,444,828 (2024-06-02)
Supply limitUnlimited
Website
Websitegetmonero.org
  1. ^ Source code fork shouldn't be confused with hard forks or soft forks.

Monero (/məˈnɛroʊ/; Abbreviation: XMR) is a blockchain-based cryptocurrency which is private, untraceable, fungibile, and decentralized.[2]

The protocol is open source and based on CryptoNote v2, a concept described in a 2013 white paper authored by Nicolas van Saberhagen. Developers used this concept to design Monero, and deployed its mainnet in 2014. The Monero protocol includes various methods to obfuscate transaction details, though users can optionally share view keys for third-party auditing.[3] Transactions are validated through a miner network running RandomX, a proof-of-work algorithm. The algorithm issues new coins to miners and was designed to be resistant against application-specific integrated circuit (ASIC) mining.

Monero's privacy features have attracted cypherpunks and users desiring privacy measures not provided in other cryptocurrencies. A Dutch–Italian study published in 2022 decisively concluded "For now, Monero is untraceable. However, it is probably only a matter of time and effort before it changes."[4]

Due to its perceived untraceability Monero is gaining increased use in illicit activities such as money laundering, darknet markets, ransomware, cryptojacking, and other organized crime. The United States Internal Revenue Service (IRS) has offered funding for contractors that can develop Monero tracing technologies.[5]

  1. ^ Trajcevski, Milko (8 June 2022). "Monero (XMR) Tail Emission Upgrade Explained". Yahoo!Finance. FX Empire. Archived from the original on 3 December 2024. Retrieved 8 July 2024.
  2. ^ Braun-Dubler, Nils; Gier, Hans-Peter; Bulatnikova, Tetiana; Langhart, Manuel; Merki, Manuela; Roth, Florian; Burret, Antoine; Perdrisat, Simon (16 June 2020). Blockchain: Capabilities, Economic Viability, and the Socio-Technical Environment. vdf Hochschulverlag AG. p. 166. ISBN 978-3-7281-4016-6. Archived from the original on 29 October 2023. Retrieved 11 July 2025.
  3. ^ Lacity, Mary C.; Lupien, Steven C. (8 August 2022). Blockchain Fundamentals for Web 3.0: -. University of Arkansas Press. pp. 9–33. ISBN 978-1-61075-790-4. Archived from the original on 29 October 2023. Retrieved 22 July 2023.
  4. ^ Bahamazava K, Nanda R. The shift of DarkNet illegal drug trade preferences in cryptocurrency: The question of traceability and deterrence. For Sci Int: Dig Investigation. 2022;40 doi: 10.1016/j.fsidi.2022.301377.
  5. ^ Cite error: The named reference Franceschi-Bicchierai-2020 was invoked but never defined (see the help page).
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