Digital Asset Research initiated coverage on the digital token Monero today.
Monero is a privacy-preserving cryptocurrency based on the CryptoNote protocol. Its key features are anonymity, security, and fungibility. Recipients and senders of Monero use unique, one-time only, public keys for every transaction – the so called Stealth Addresses. This feature eliminates the possibility of wallet data mining, a serious concern for bitcoin users. Ring Signatures are also used in every transaction and made by fusing a transaction’s actual signer with a group of past signers (pulled from past transactions in the blockchain) to mask the sender’s true identity.