1.
MONERO 101
HOW TRANSACTIONS WORK
MONERO AIMS TO BE 100% PRIVATE ELECTRONIC CASH.
BROUGHT TO YOU BY:
C O I N E L I T I S T . C O M
ELECTRONIC
PRIVATE
DECENTRALIZED
Electronic
cash
triangle
monero’s
main
feature
PRIVACY
THE THREE PILLARS OF MONERO
#1. RING
SIGNATURES
#2. STEALTH
ADDRESS
#3. CONFIDENTIAL
TRANSACTIONS
S v S v
MONEROHAS
TWOPRIVATEKEYSANDTWOPUBLICKEYS
PRIVATE
SPEND KEY
PRIVATE
VIEW KEY
PUBLIC
SPEND KEY
PUBLIC
VIEW KEY
WHAT HAPPENS DURING A MONERO TRANSACTION?
CAROL WANTS TO SEND 10 XMR TO DAVE.
#1
THE SENDER’S IDENTITY IS
PROTECTED BY THE RINGSIGNATURE
OTHER DECOY SIGNATURES PROTECT THE
SENDER’S IDENTITY (CAROL) BY CLOUDING
THEIR SIGNATURE.
1. A RANDOM ONE-TIME PUBLIC KEY IS
GENERATED FROM DAVE’S PUBLIC VIEW AND
SPEND KEYS.
2. A ONE-TIME“STEALTH ADDRESS”IS
GENERATED FROM THE ONE-TIME PUBLIC KEY.
3. CAROL SENDS THE XMR (MONERO) TO THE
ONE-TIME STEALTH ADDRESS.
CAROL
S
CAROL’S
SIGNATURE
DECOY SIGNATURES
#2
THE RECEIVER’S IDENTITY (DAVE) IS
PROTECTED BY THE STEALTHADDRESS
S v 1+ =
1
4. DAVE’S PRIVATE SPEND KEY LOCATES THAT
TRANSACTION IN THE BLOCKCHAIN.
5. DAVE GENERATES A ONE-TIME PRIVATE KEY
ASSOCIATED WITH THE ONE-TIME PUBLIC KEY
AND RETRIEVES THE XMR.
S
1