Monero XMR to Decentraland MANA Exchange

Crypto Pair Details: XMR to MANA

Monero XMR

What is Monero? Monero (XMR) is the top privacy-centric cryptocurrency based on the CryptoNote protocol, a secure, private and untraceable currency system. Monero uses a special kind of cryptography to ensure that all of its transactions are remain 100% unlinkable and untraceable. In an increasingly transparent world, you can see why something like Monero can become so desirable. Origins of Monero In July of 2012, Bytecoin, the first real life implementation of CryptoNote, was launched. While Bytecoin had promise, people noticed that 80% of the coins were already published. So, it was decided that the bytecoin blockchain will be forked and the new coins in the new chain will be called Bitmonero, which is was then renamed Monero, meaning “coin” in Esperanto language. In this new blockchain, a block will be mined and added every two minutes. Why Monero? #1: Unlinkability - Your identity is completely private You have complete control over your transactions. You are responsible for your money. Because your identity is private no one will be able to see what you are spending your money on. When you send funds to someone’s public address, what happens is that you actually send the funds to a randomly created brand new one-time destination address. This means that the public record does not contain any mention that funds were received to the recipient’s public address. In Monero, your public address will never appear in the public record of transactions. Instead, a 'stealth address' is recorded in a way that only you, the recipient, can recognize the incoming funds. #2: Fungibility Fungibility is interchangeability between one asset and another asset of the same type. Suppose you borrowed $50 from your friend, you can even return the money in the form of 1 $50 bill or 5 $10 bill, It is still fine. This shows that the dollar has fungible properties. However, if you were to borrow someone’s car for the weekend and come back and give them some other car in return, then that person will probably punch on the face. Cars, in this example, are a nonfungible asset. What is CryptoNote? CryptoNote is the application layer protocol that fuels various decentralized currencies. While it is similar to the application layer which runs bitcoin in many aspects, there a lot of areas where the two differ from each other. CryptoNote features an entirely new code base and is not a fork of Bitcoin. More info about CryptoNote can be found at their website. CryptoNote uses Ring Signatures to conceal sender identities via mixing and it also has unlinkable transactions that is achieved using 1-time keys for each individual payments. Ring signatures enable ‘transaction mixing’ to occur. Transaction mixing means that when funds are sent, the sender randomly chooses several other users’ funds to also appear in the transaction as a possible source of the funds being sent. The cryptographical nature of the ring signature means that no one can tell which of the funds were really the source of the transaction – not even the person that gave the funds to the sender in the first place. A system of ‘key images’ associated with each ring signature ensures that although no one can tell the true source of the funds, it can be easily detected if the sender attempts to anonymously send their funds twice.

Decentraland MANA

Decentraland is an Ethereum-powered virtual reality platform. In this virtual world, you purchase plots of land that you can later traverse, build upon, and monetize. There’s no limit to what you can do. It’s the first digital platform that’s completely owned by its users. Similar to games like Skyrim and Fallout, Decentraland is an all-immersive virtual universe. However, instead of playing on a 2-dimensional screen, you participate in a 3-dimensional world. It seems to be the logical next step before creating full-blown AI-based games in the physical space à la Westworld. Similar groupings on LAND comprise Districts. Districts are basically communities that revolve around a shared theme. For example, there may be a District just for crypto enthusiasts with cryptocurrency apps and services. The Decentraland team is led by Ari Meilich (Project Lead) and Esteban Ordano (Tech Lead). Ordano previously worked at Bitpay as a software engineer and founded Smart Contract Solutions, Inc. Both founders have also worked together in creating Stremium and Bitcore. Decentraland has been around for longer than you may think. The team hit their first development milestone, Stone Age, in June 2015. This was a simple, pixelated grid that allocated pixels to users through a proof-of-work algorithm. Most recently, they held a Terraform Event in which they sold LAND in the new, 3D world. The team has also partnered with district0x, Aragon, and imToken to provide some of their services. MANA is the token used to buy lands in Decentraland. The Blockchain platform can be incorporated in order to buy or sell the various digital assets available in the virtual world. An unclaimed land would have the same market pricing on every exchange possible and precisely the developers are on a hunt for such since as they can build on top of it, and attract lot of popularity. However, one must keep in mind that the land parcels are different from them and each one of them varies according to the various market conditions of that time. Mana can be a great investment and can be bought by trading and with other Bitcoin, Ethereum, or any other prominent cryptocurrency and on some of the most notable cryptocurrency exchanges. Specifically, Binance and Huobi are two of the best cryptocurrency exchanges that one can suggest for trading Mana tokens. The Decentraland coin isn’t a minable cryptocurrency as it is issued on the Ethereum blockchain, unlike Bitcoin and other similar currencies. So users looking to engage in some Decentraland mining will be disappointed. Instead, it was sold during token sales and is now being traded on exchanges.

SOURCE: COINGECKO

instantcryptocurrencyexchange Statistics

Instant Cryptocurrency Exchange Platform