With Monero, the details of every transaction, including sender, receiver and size, are recorded on a public ledger, but are obfuscated to reportedly make them untraceable. Use Monero, and, in theory, there’s no way for anyone else to connect the dots between the sender, receiver or size of the transaction.
Sound like an appealing coin to cybercriminals? It is. The hackers behind the global ransomware incident WannaCry, which infected 230,000 computers running Microsoft Windows, demanded payments in Monero.
That said, there are many more cases recorded of hackers demanding bitcoin, and Monero’s backers say the coin’s biggest use cases aren’t illicit. It would appeal, they say, to corporations who want to move money around without competitors knowing, or to anyone who simply doesn’t want their balance and transactions made public, such as someone doing business in a foreign country who doesn’t want to become a target.
Monero recently said 45 musicians, including Lana Del Ray, Sia and Dolly Parton, will be accepting Monero. Many will even offer discounts to those who pay with it.
There are about 15.5 million XMR in circulation, and, unlike bitcoin and Litecoin, Monero doesn’t have a fixed coin supply.
Sound like an appealing coin to cybercriminals? It is. The hackers behind the global ransomware incident WannaCry, which infected 230,000 computers running Microsoft Windows, demanded payments in Monero.
That said, there are many more cases recorded of hackers demanding bitcoin, and Monero’s backers say the coin’s biggest use cases aren’t illicit. It would appeal, they say, to corporations who want to move money around without competitors knowing, or to anyone who simply doesn’t want their balance and transactions made public, such as someone doing business in a foreign country who doesn’t want to become a target.
Monero recently said 45 musicians, including Lana Del Ray, Sia and Dolly Parton, will be accepting Monero. Many will even offer discounts to those who pay with it.
There are about 15.5 million XMR in circulation, and, unlike bitcoin and Litecoin, Monero doesn’t have a fixed coin supply.