Monero is an open-source decentralized and untraceable cryptocurrency that focuses on the financial privacy of the users. Monero is a private blockchain that allows users to keep any of their data a secret. The network can also be selectively transparent, meaning the users can decide for whom their data will be available.

Monero was launched in 2014 with the goal to provide users with secure and anonymous transactions. Unlike the public blockchains that sometimes allow tracing the transactions back to the original source, the Monero network uses advanced cryptography to obscure senders and recipients.

The network was created by seven developers, and five of them preferred to stay anonymous. There were rumors in the community that Satoshi Nakamoto, the creator of Bitcoin was involved in the project. 

Thanks to the so-called ring signatures, when one user sends XMR to another, the amount is being split into multiple random chunks, making it impossible for the outside observer to see who signed the transaction. Stealth addresses are being created for each transaction so no the operations can be linked. 

The mining process of Monero is based on an egalitarian concept, that considers all people as equal and deserving of equal opportunities. The project uses the proof-of-work algorithm created by the community members, which allows keeping the use of the mining-specific hardware unfeasible. Developers don’t keep any stake for themselves on the launch. The network relays on community support and contributors. 

One of the most important parts of the project is the Monero Research Lab. It allows developers from all over the world to discuss new ways for the platform’s improve. It is believed that hundreds of researchers input into the development of Monero.