Monero is a brand of XMR Crypto Currency was founded by Riccardo Spagni and David Latapie in 2014. Monero (XMR) focuses on fungibility, privacy, and decentralization. Monero is actively encouraged to those seeking financial privacy, since payments and account balances remain entirely hidden. Monero use the blockchain is powered strictly by Proof of Work
Method of functioning
To ensure all the transactions remain 100% unlinkable and untraceable Monero uses a special kind of cryptography. Monero functions through uses of a public ledger, which gives the opportunity to anyone to broadcast or send transactions. To identify transactions to merchants and exchanges the Payment ID is used.
Monero cryptocurrency is a decentralized system, meaning it is securing digital cash operated system by a network of users. Consensus distribution is confirming the Transactions and then immutably recorded on the blockchain. Third-parties do not need to be involved to keep your Monero safe.