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