Monero (XMR) is an open-source, decentralized confidentiality-focused cryptocurrency that was developed by Nicolas van Saberhagen. The cryptocurrency is unique for the anonymity it offers which no other cryptocurrency has yet done it as completely conceals the identity of the sender and receiver, as well as other transactional information such as the amount and destination. Monero uses a disguised public ledger which means that anybody can send or receive transactions, but no outside observer can actually see the transactional specifics.
The anonymity offered by Monero has been heavily linked to illicit activities such as drug and weapon trafficking in the dark web, but at the same time that also increased the cryptocurrency’s popularity and fueled it’s immense growth in market capitalization. People who held Bitcoin would use it break the link between their transactions, making it revolutionary tool for underground transactions.