TokenGazer [XMR] Rating: 4.5, Indicator Trend: Neutral | Updated February 21, 2019
Monero (Ticker: XMR) is an open source cryptocurrency created in April, 2014 with a focus on privacy, decentralization and scalability. Unlike many cryptocurrencies derived from Bitcoin, Monero is a new generation of privacy-oriented cryptocurrency based on the CryptoNote protocol. Monero is an early blockchain project and has always been a leading project in the marketplace. Although XMR’s price has been continuously decreasing with the market downturn, the project development progress and upgrade rate are satisfactory. Like BTC, Monero is a community-based project, which is not controlled by a company, thus free from certain centralization risks. It has been concentrating on improving project governance and decentralization of mining. However, the project is faced with some external challenges. For example, traditional privacy coins such as Dash and Zcash have made a great progress, and the MimbleWimble-dased project Grin has also attracted great attention. Monero forked on April 6th 2018 and generated four forked Monero coins. Hardforks happen when community members have different ideas about the project, which may have a negative impact on the community. Nevertheless, Monero still has its own features, and privacy protection blockchain projects will play an important role in the blockchain world.