Play Monero Poker
Since cryptocurrencies have changed the economy drastically, people are looking for one to satisfy their own needs. Naturally, these needs differ, but there are around 1600 cryptocurrencies from which you can choose. This means that, with basic knowledge regarding some of the most popular, you can manage to replace fiat money and even make profit from your transactions.
Monero, also known as XMR, is one of the best examples of a cryptocurrency that can meet certain criteria. It is regarded as private digital cash, using a different type of cryptography that makes the transactions untraceable and impossible to link. It is, similarly to Bitcoin, a decentralized cryptocurrency as well, but it offers much more anonymity than the latter. This characteristic has determined its rise among digital currencies.
All cryptocurrencies give the users a unique key or address, when it comes to bitcoin for instance, the sender can see this address and, respectively, the amount of BTC in the recipient linked to it, with all the coins that are transferred being made public. In contrast, in Monero transactions the sender cannot see the recipient’s holdings, even if they can see the address. This is because the coins sent are rerouted through a random address that is created for each transaction. Therefore, Monero’s ledger makes it impossible to track the addresses, as the random ones are not associated with the real ones.
Another feature that XMR has in order to provide anonymity is the ring signature technology. It involves a digital signature in which more feasible signers are blended to create a distinct signature which can authorize a transaction. Basically, the real signer is merged with non-signers, thus forming a ring. From the outside, nobody would be able to tell which of the possible signers is linked to your account, making the transactions untraceable.
Even more, the amount of units in a transaction is split in several other amounts, with each of them appearing as a distinct transaction. Combining this process with the ring signature, we have these smaller transactions mixed with other transactions that have previously been split as well, making it impossible to figure out where the money goes.
Most importantly, Monero offers its users the possibility to allow access to their accounts using preferred limits. Every user has a view key, which can be shared with any other party for specific things – for instance, third parties can see your recipient’s holdings using the view key, but they can’t spend the money, or they are granted access to certain past transactions which you have conducted.
Needless to say, this currency is very convenient for any user that wants to make purchases or play games such as bitcoin poker online anonymously. Regardless of your activity of choice, you should know that XMR is a cryptocurrency meant to protect your privacy, so if there is anything out there that you avoid doing because you don’t want others to stick their nose in your business, now you have the opportunity to do it.
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