Monero Is Celebrating Its 5th Birthday

| Publish date: 04/21/2019
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When it comes to privacy protection, Monero is definitely one of the most popular digital currencies. Apparently, the cryptocurrency is celebrating its five years of existence in the crypto space. Here is everything about it in a nutshell.

Monero’s Fifth Anniversary

Monero was first launched back in April 2014. Since its birth, the crypto has managed to be entirely a crowdfunded project. It is best known for practicing a decentralized, grassroots structure. And in line with it, the crypto is mainly developed by volunteers.

A Monero contributor by the name of Diego Salazar said in an interview that the digital currency is “very committed” when it comes to the idea of decentralization. And with the kind of structure it practices, Salazar said that they are not fond of taking “premine.” In other words, these volunteers do not necessarily accept a certain percentage of the block rewards.

Salazar even went to suggest that as far as Monero is concerned, it has not initial coin offering (ICO). Although the workload would usually depend on the time and availability of its volunteers, the crypto has managed to embrace between 100 and 200 volunteers – all of whom are hell-bent at working on the project.

Salazar further clarified that the project itself is not just focused on the idea of building a blockchain protocol. It is also aimed at re-defining and reinforcing a global movement, one that is completely centered on digital privacy.

A ‘Very Powerful Tool’

The aforementioned contributor added that Monero is not just about making global internet money. It is also trying to teach people across the world the value of privacy and other related aspects. For Salazar, it is a “very powerful tool” and a necessary one in today’s day and age.

To reinforce Monero’s structure, the Italy-based developer and contributor named “SerHack” released a PDF version of the Book titled “Mastering Monero.” Interestingly, it is free and is in time for the crypto’s fifth anniversary.

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The above-mentioned book was first published back in 2018 and was fully fund supported by the crypto’s very own community. It teaches non-crypto individuals the significance of “private and censorship-resistance transactions.”

It is worth noting that Monero is the only crypto on the blockchain to pride in private on-chain transactions. Still, it is considered to be the largest among its kind when it comes to market capitalization. As a matter of fact, it boasts a valuation of at least $1 billion.

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