The price of Monero (XMR) pumped in the last week, from 2.5$ to 5$. The cause are big announcements from the Darknet. First of all, SIGAINT, a darknet mail provider, launched a Tor Monero node, followed by Oasis, a darknet market place, who started to accept Monero and last but not least, Alphabay, the leader and largest darknet marketplace, started the integration of Monero currency on his market platform.
Monero was created in April 2014 and his primary focus is the privacy. Based on the concept od PoW (proof of work), the main features are:
- Untraceable payments
- Unlinkable transactions
- Blockchain analysis resistance
- Adaptive parameters
Unlike Bitcoin, Monero implement the Ring signatures algorithm to spread coins between users providing high anonimity. The ring signature algorithm allows you to send money to another user, without the need of revealing your identity. You are inside a ring (group) and you can sign a message on behalf of that group. The receiver is unable to identify which one of the ring signed the transaction.
This high level of anonimity is perfect for the darknet and for the deepweb market.