Monero Basics part 1
All the transactions done on with bitcoin are public and can be searched with "block explorers" like Blockchain.info and through analysis people can reveal the identity of the sender.
About monero:
It was launched on April 18, 2014
Monero's main claim to fame is that it's blockchain allows for more privacy, since it allows you to hide your identity and the destination of your funds from the wallet application itself.
The most important things to know about Monero transactions:
- This is how a Monero address looks:
48KoeH9NNqTKu5rQwwYzPNMdgE8efZ8SqK6sDqgt83wK1HSfkNVtrxQH5uW7DbNWj3BziKDysn2jXa6S73oEfEVtQQ1LPTb
- When a Monero transaction will includes a "Payment Id" like shapeshift transactions do, you must include the payment ID in the message section of the wallet before you complete sending the Monero.
A payment ID looks like this
34ea161a84b4bbb21dcaf67badab3e62d843fe392f82c888f4cdec8f03adad57
- You can choose to make your Monero transaction private, if you do, only the people who you give your wallet's "View key" using the view key you can find an specific transaction on Monero's "blockexplorers" like https://moneroblocks.info/
Stay posted for part 2 on this steemit account..
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