Monero overview using the Feynman Technique
This post is one of a series of posts I am writing where I try to apply the Feynman Technique to a number of different crypto token projects. You can find the rest here. None of this should be taken as investment advice. They are just meant to be simple introductions to the projects.
Monero, like Bitcoin, is a computer to computer digital network of transactions. The difference between Monero and Bitcoin, however, is that Monero hides any information about who sent the transaction, who received it, and how much it was for. This means it is private and untraceable but still works using an open network of computers.
The difference between Monero and other private cryptocurrencies, like ZCash, is that it is always private. While you can choose to share transaction information with the people you choose, by default it is private to all and there are never public transactions. This helps users ensure their transactions are always private.
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