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What is Monero?
Monero is a privacy-centric cryptocurrency that was designed to enhance the promise of cryptocurrency, particularly when it comes to keeping transactions private. Unlike Bitcoin, which allows for some level of tracking and potentially compromising data, Monero employs advanced cryptographic techniques to ensure that users can engage in transactions without leaving a digital footprint.
The name "Monero" itself is derived from the Esperanto word for "coin," underscoring its intent to serve as a form of currency. It employs a proof-of-work blockchain mechanism, similar to Bitcoin, but with key differences that bolster its privacy features.