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Monero developers release beta GUI wallet

Monero (XMR) is the only cryptocurrency that has the most complex state of the art cryptography. With its unique code that is totally different than bitcoin, it is widely-recognized for its privacy and anonymity for use as digital currency. Riccardo Spagni is the Lead Core Developer for the open source project, Monero.

What is RingCT?

RingCT, short for ring confidential transactions, is a way to hide the amount sent in a Monero transaction. This feature is currently in the testnet phase and is a high development priority. RingCT introduces an improved version of ring signatures called A Multi-layered Linkable Spontaneous Anonymous Group signature, which allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation.

Open-source cryptocurrency Monero announced today that its core team developers with the release of RingCT (lauded as the most confidential and anonymous cryptography in the marketplace) set to be released mid-January increased production and have released a beta of their GUI wallet.

Dodging tracing, surveillance, and monitoring, while being invisible on the blockchain, Monero will allow underground banks and investors to feel safer doing cryptocurrency transactions.  Allowing people to take control of their money, consumer domination is forcing popular Chinese exchanges OKCoin and BTCC to integrate to XMR.

Friendly-GUI wallets without fees for consumers, banks, and investors, the cryptocurrency is used to transfer funds into CNY outside the country to avoid deflation.  Thus, the focus of Monero is to keep it valuable, less volatile, and extremely private.

A representative for Monero stated:

China’s population will skyrocket the price of Monero. This could cause the next round of cryptonaires. With Bitcoin, some bought at $1 or $15 and the price is now around $800. It could be another baby boomer for cryptocurrency millionaires and remember the worth can be converted to USD easily.


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