Overview

 Monero is an open-source, and privacy-oriented cryptocurrency based on blockchain. The coin is based on the cryptonight algorithm and Proof of Work.

Monero is an open-source, and privacy-oriented cryptocurrency based on blockchain. The coin is based on the cryptonight algorithm, on Proof of Work and has a block rewarding system that smoothly varies. A sixty-second block target is a difficulty retargeted by every block.

A ring signature system is utilized to protect privacy, to make untraceable transactions by users in Monero (XMR).

• Privacy (Untraceable payments, Unlinkable transactions)
  Monero daemon uses the original CryptoNote protocol except for the initial changes (as the block time and emission speed). The protocol itself is based on ring signatures (Daniel J. Bernstein's Curve25519 + Ed25519, Schnorr signatures on a Twisted Edwards curve) and stealth addresses. The end result is passive, decentralised mixing based on heavily-tested algorithms.
• Decentralisation
  The smart mining[20] forthcoming feature will allow transparent CPU mining on the user's computer, far from the de facto centralization of mining farms and pool mining, pursuing Satoshi Nakamoto's original vision of a true p2p currency.
   
• Scalability
  Monero has no hardcoded limit, which means it doesn't have a 1 MB block size limitation preventing scalability.