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81

It is the only private cryptocurrency in use today which is truly fungible as all transactions are private and created equal. It satisfies the 3 important properties of electronic cash: decentralized, private, digital. These are the major features that distinguish it from all the rest, on a protocol level: Nobody inspecting the blockchain can tell from ...


57

As described by Monero Research Lab academic Shen Noether with regard to the anonymity set: Monero (although the zcash proponents note that a ring signature is a "smaller" anonymity set, they usually don't mention that the stealth address factor actually means that each transaction is masked, whereas the ring signatures provide additional plausible ...


41

There are several advantages where I2P implementation is more suitable over Tor, e.g. I2P is significantly faster when routing internal traffic, where Tor is optimized for low-bandwidth clients and high-bandwidth exit nodes, I2P doesn't have floodfill routers hardcoded as Tor's directory of servers, I2P is a packet-switched network (as opposed to circuit-...


33

From Monero developer Smooth: “Yes it would be more vulnerable (with regard to public keys) but the protection it affords if uncertain and fragile. If QC can crack keys "slowly" then you can safely move coins from an address that hasn't been spent before to a new quantum-resistant output (assuming such a thing is implemented). But if QC can crack keys "...


26

Does Monero have any Android or iOS wallets available? No Monero iOS or Android wallet currently existed in the Apple App Store or Google Play Store for a long time with the custodial Freewallet exception related to Bytecoin/Minergate. This wallet has been marked as distrusted by the Monero community in the Monero Reddit wiki: Freewallet – Please read ...


24

Privacy You won't find your standard address on the blockchain. Every single output is its own one time address, there is no choice about it (as opposed to Bitcoin, where address reuse is discouraged, but commonplace, and easy to do). Ring signatures allow transactions to be ambiguous about which outputs are spent, since any one of the N inputs in a ring ...


21

The short answer is no, at least not safely. Something we've discussed before is for full nodes to (completely optionally) include a donation address in their handshake, with separate addresses on clearnet and i2p (to prevent fingerprinting). Then when a wallet is building a transaction it can ask the daemon for a random donation address from the list of ...


19

First, there is no stealing possible, so your funds are safe ASSUMING THE MONEROV (OR OTHER KEY REUSING FORK) SOFTWARE IS NOT A TROJAN. If it is not, then the key reuse only affects one of the privacy layers Monero offers, and does not allow either double spending nor stealing. Of course, since monerov is currently closed source, it may be that the binaries ...


18

Using a third party node has drawbacks in two main categories: privacy, and performance. When you refresh your wallet, the daemon sends blocks and transactions to your wallet, which then inspects each transaction to see if you received any monero. If you did, the wallet will, at least currently, ask the daemon for more information about that transaction (...


17

An incomplete list of explorers with unique features would include Moneroblocks, ChainRadar, and The Onion Monero Blockchain Explorer, of which the clearnet version can be found here. Moneroblocks is the most popular explorer (and one of the first if you include its previous .eu domain). It tracks a number of useful statistics, such as mixin usage and ...


17

Adding this answer to make it simpler to those who can not understand the top response. ZCash uses a new cryptography tool called zk-SNARK (don't worry about the name). This is different than the ring signatures that Monero uses. Without getting into too much detail, this is how they both work: zk-SNARKs use the entire blockchain when making transactions, ...


16

MoneroV is a chain split off Monero. It will inherit Monero's history going forward. MoneroV is widely regarded as an attack on the Monero network. Any initial transactions made on MoneroV will be directly linked to their Monero counterpart. For instance, suppose I have money in Monero address A at the time of the chain split. I then spend my MoneroV and ...


15

From fluffyponyza here: Due to the nature of the key you can write it as part of something else - eg. write a fake love letter to your wife so that the 24 words on the left hand side are your key or whatever. Then write a bunch of extra love letters. That way, if your deposit box is ever discovered, it'll be disregarded as unimportant love letters". Also,...


15

With Deep Packet Inspection, you can filter/block almost any traffic you want. In the I2P projcet, on which Kovri depends, the devs are aware of blocking possibilities in restricted countries and they are working on solutions to make it as hard as possible to detect and block I2P traffic. The mentioned "meek" is one of the Pluggable Transports (PT) to ...


13

Yes. Anyone who gains control of the TXT records would be able to change the address they reference. To answer your second question, you are correct that this would not affect any Monero received prior to the TXT record change, so your received funds would remain safe. This is why it is best to think of it as an alias to your address and not as the address ...


13

The risk is that this transaction will not be included in a block, ever, and thus never pays the merchant. The risk are the same as with Bitcoin, since Monero uses the same type of PoW system, so you may want to read up on doing this with Bitcoin. One possibility for attack is that the transaction being sent to the merchant has an input which will be spent ...


12

You are asking two different things here: what are the risks in using the same daemon They're typically small, and mostly either privacy leaks or denial of service. Obviously, whoever runs the daemon may either withhold new blocks, and try to inject fake blocks. The wallet will not check PoW, etc. A daemon who knows the user's standard address could make ...


11

A few other security related things that weren't mentioned in the other answers. In contrast to Bitcoin's 10 minute block time, Monero has a 2 minute block time. Additionally, Monero uses a different elliptic curve. Instead of secp256k1 / ECDSA as used in Bitcoin, Monero uses Ed25519 / Curve25519 / EdDSA. This doesn't make any perceivable difference for ...


11

Firstly, Monero relies on the safety of Ed25519 (as opposed to secp256k1 for Bitcoin) and EdDSA. Note that if EdDSA/Ed25519 breaks, a lot more than Monero will be impacted, including SSH, Tor, I2P, OpenBSD, GnuPG and many more From the Surae Noether CryptoNote white paper review Implementation and use key images to prevent double spending The CN ...


11

Remote Nodes Patches have been made to limit the information leak to a remote node. It does not know what inputs you control, and it does not know what blocks your receiving transactions are from. However, there are still some concerns: The remote node knows your IP address, and it can associate each transaction you send to the node with your IP address. ...


11

Well, private spend keys are 64 character hex strings, see here: https://moneroaddress.org That will give you around 1e77 possible private keys. If n is the number of possible private keys, and you only generated two private spend keys, the odds they would be the same is: 1 - (n-1)/n Which Python tells me is 0.0 due to floating point arithmetic. In ...


11

As far I know, this is not possible. You have to restore you account with simplewallet --restore-deterministic-wallet and give a new password.


11

You could also scrypt your paper wallet. Then use base64 to get the encrypted data in a printable format. This way somebody stealing it will still need a password to get the keys or mnemonic seed and scrypt will make sure that brute force attacks are infeasible even for weak passwords. Encode: scrypt enc -t120 data.txt | base64 > data.enc.txt Decode: ...


11

Update 2018.02.04 In light of recent of environment changes, this answer needs update, since blockchain scalability cannot be ignored anymore. TumbleBit's mixing technique became completely uneconomical, due to high fees. Although Monero has a similar fee problem, not as bad as TumbleBit has. That being said, TumbleBit has a Payment Hub mode, which is just ...


11

FreeWallet is a third party, closed source wallet associated with Bytecoin and Minergate where you are not in control of your private keys. Therefore the only way to be able to recover your XMR/account is to keep asking them. However it looks like that they are not replying to you. The best way to address this is go to the App and submit a review so other ...


10

Ok, here is another version. It's not perfect or detailed and it will probably need some additional research. Preparation: Get an old computer (and seal its Ethernet port with duct tape – this computer will not touch the Internet again) Get several fresh USB sticks Wipe the old computer and the USB sticks (you can use something like DBAN to wipe ...


10

In essence, the most secure method would be to create a live bootable OS on a USB stick, access it on a machine that is not connected to the internet, and then generate your mnemonic seed and address using a GPG-verified program. But for an actual, detailed response, instead of copy/pasting someone else's guide entirely, I'll refer you to the extensive ...


10

Make Monero useful and people will run nodes. You don't need to compensate nodes to give people an incentive to run one, you just need to make Monero intrinsic or a large part of their business. This is why Bitcoin nodes have been going down over the years, no business sees it as critical to their revenue model, so they outsource it. DNMs are a perfect ...


10

This is possible with a "daughter" project of Monero called URS (Unique Ring Signatures) and was introduced by core-team member tacotime. From the README of the repository: URS can be used to sign plaintext or binaries anonymously (among a group of known users). That is a user can sign a message, hiding among a group of known/registered users, that ...


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