Monero is a controversial cryptocurrency built to facilitate untraceable and fully anonymous transactions around the world. Monero is perhaps one of the best iterations of the ideas driving the crypto revolution: privacy, decentralization, and liberty.
Like most cryptocurrencies, Monero features an open source blockchain operating a proof of work consensus mechanism rewarding miners for their work. However, Monero is unique for its opaque blockchain, preventing transaction records from being traced to specific addresses and thus protecting the privacy of its users from unwanted scrutiny.
Monero was once a leading cryptocurrency thanks to its widespread use on the now defunct darknet marketplace known as AlphaBay. AlphaBay was shut down in 2017 due to illegal activity.