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Monero (/məˈnɛroʊ/; Abbreviation: XMR) is a cryptocurrency which uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories.[2]
The protocol is open source and based on CryptoNote v2, a concept described in a 2013 white paper authored by Nicolas van Saberhagen. Developers used this concept to design Monero, and deployed its mainnet in 2014. The Monero protocol includes various methods to obfuscate transaction details, though users can optionally share view keys for third-party auditing.[3] Transactions are validated through a miner network running RandomX, a proof-of-work algorithm. The algorithm issues new coins to miners and was designed to be resistant against application-specific integrated circuit (ASIC) mining.
Dash is an open source peer-to-peer cryptocurrency with a strong focus on the payments industry. Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent securely both online and in person with only minimal transaction fees. Based on the Bitcoin project, Dash aims to be the most user-friendly and scalable payments system in the world. In addition to Bitcoin’s feature set, Dash currently also offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses for work that adds value to the network. This decentralized governance and budgeting system makes it one of the first ever successful decentralized autonomous organizations (DAO).
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