Monero is derived from Bytecoin which uses a protocol named Cryptonote. This protocol was published in early 2014 by one or more people known by the pseudonym Nicolas van Saberhagen. It was very well received by the cryptographers who analyzed it.
Without going into the technical details, the anonymity of Monero transactions is based on one hand on the use of a temporary address of the receiver instead of its public address (which protects the one who receives the money) and on the other hand, on the addition of "fictitious" transmitters (which partially protects the one who pays). The issuer and the receiver of the transaction are the only ones with the necessary elements to check where the money comes from and where it is going. The cost of the transaction is related to the desired level of anonymity (which can be chosen by the issuer).
Monero price in October 2017
After reaching 6,071 INR on October 1st 2017, it fluctuated to market trends and finally reached 5,733 INR on 31st October 2017. It was during this phase that Monero had released their Android Mobile wallet, had released their software named Helium Hydra followed by protocol upgrades that led to the price fluctuation of Monero.
Monero price in November 2017
Monero started from 5,522 INR on 2nd November 2017 and climbed up to 11,742 INR on 30th November 2017.
Monero price in December 2017
And at 12,244 INR on 1st December 2017, Monero finally reached 22,572 INR on 31st December 2017 which was a tremendous consolidated spike.
Monero price in January 2018
Initial price on 1 January 2018 was INR 22,816.64 and then Monero finally reached INR 17,451.02 on 31 January 2018.
Monero price in February 2018
Starting off on 1 February 2018 at INR 17,207.69, Monero was trading at INR 19,107.69 on 28 February 2018.
About Monero (XMR)
Monero (XMR) is a new cryptocurrency centered on privacy using the CryptoNote protocol.
Monero aims to be an interchangeable and untraceable means of payment. In essence, it has a higher degree of anonymity than Bitcoin or any of its variants (eg: Litecoin) because it uses blockchain blocking methods.
More Features about Monero
The advantages of Monero (untraceable, decentralized, almost free).
INNOVATIVE MINING AND EMISSION SOLUTIONS
The CryptoNight hash algorithm greatly reduces the GPU advantage on CPUs, which even taking into account botnets and compute farms, reduces centralization.
Continuously decreasing emission curve, which cancels the disruptive effect of block halvings - each block produces a reward only a little smaller than the previous block.