Monero (XMR) is a private, secure and non-traceable cryptocurrency that was launched on April 18, 2014 as a fork of ByteCoin. It is an open-source digital currency focused on privacy, built on the blockchain, which is designed to be opaque. With Monero they say that you have complete control over your funds and privacy, since no one else can see other people’s balances or transactions.
Monero works like a privacy-oriented cryptocurrency using ring signatures and hidden addresses. A ring signature is an anonymous digital signature that does not show who signed the transaction. They are generated on the Monero platform through a combination of sender account keys and public keys in a block chain. Hidden addresses are randomly generated addresses that are created during each transaction for one-time use and hide the destination address of the transaction, as well as the identity of the recipient. Ring Confidential Transaction (RingCT) also hides the transaction amount; this feature was added in January 2017 as a required feature for all Monero network transactions.
Monero is based on the CryptoNote protocol and has a dynamic block size and a board, unlike bitcoins.
Monero GUI Wallet
Preparation for installation Blockchain Blocks Monero (XMR)
- Make sure that your hard disk has enough free space, it takes about 50-80 GB;
- Download Monero GUI Wallet
- Download the archive with the blockchain blocks Monero (XMR)
Import Blockchain Monero (XMR)
After the files have downloaded, we can start importing Monero blockchain blocks, for this:
- Create a folder where we will place the blocks, for example, “Monero XMR”;
- We dig into it an archive with blocks;
- Next, in the same folder, run – “Monero.exe”
- The “Monero GUI Wallet” window will open, select our just created “Monero XMR” folder and click “Next”, after which the Monero blockchain database will be assembled and synchronized with the network;
- Done! Now you can use the Monero wallet!