What is monero and why does it matter

If you’ve been interested about crypto, you may or may not know about the big name bitcoin. Bitcoin has been made as an alternate way to pay digitally “privately” and “securely”. Unfortunately, through the paces of time it hasn’t stood up to its claims. Bitcoin can be traced and can be seen by how it has been used in the past for purchases.

This is where Monero comes in. Monero was made by a group of crypto enthusiasts making a private, secure and decentralized way of paying online. If there is new Monero put in a crypto wallet, it will have two statements, one “locked” and another “unlocked”. Locked isn’t able to be used until it is done reading the blocks. Once it is done, it will be read as unlocked and you may pay with it. But once you pay, it will take some time to be used again. Monero has a blockchain technology that allows people to use it anywhere else, and it isn’t linking to personally identifiable information about you. It uses a decentralized blockchain, that means that the crypto mixes with others and doesn’t tie your payment to your purchases.