Monero GUI

Monero releases Graphical User Interface (GUI) v0.12.3.0

Monero [XMR], a decentralized cryptocurrency and blockchain, had released Graphical User Interface [GUI] v0.12.3.0 named “Lithium Luna” with full support for Ledger wallet.

Support for Ledger was continued in Monero’s next GUI v0.12.3.0 version. Introducing the Ledger support for Monero came with a privacy feature.

The previous version of GUI i.e. v0.12.2.0 supported Ledger. It allowed the users to store XMR on their wallet. Ledger Nano S wallet is a Bitcoin, altcoins, and Ethereum hardware wallet. It stores cryptographic assets and allows secure digital payments.

Monero [XMR] has included verification of binary files by signing in Fluffypony’s GPG Key. The verification of these binaries is available for Windows, Linux, and Mac. Users must verify these binaries in order to use the Monero software. This is to ensure if the users are using the official Monero binary.

The GUI wallet is used to securely store Monero cryptocurrency and is used to check the Monero balance and send and receive Monero. In Monero, a user has a ‘private key’, which is what allows a user to spend their funds. ‘Seed’ is a 25-word representation of a private key.

‘Daemon’ is a technical term for a program that runs in the background. Monero uses a daemon to synchronize with the Monero network to scan for incoming transactions and to send new transactions. Wallet of a user with a unique seed can detect the transactions that have been sent to the user and this is a core part of Monero’s privacy mechanism.

Monero is a decentralized digital currency which is secure, untraceable, fungible and private. It was launched in 2014. Monero (XMR) is an open-source cryptocurrency created in April that focuses on fungibility and decentralization. Monero uses an obfuscated public ledger so that anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination. Monero uses a Proof of Work mechanism to issue new coins and incentivizes miners to secure the network and validate transactions.

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Aayushi Dhawan
Aayushi Dhawan is an avid reader, researcher, crypto writer and a passionate student. While pursuing her graduation in commerce at SRCC, she realized that writing and Finance give her immense pleasure. She is currently pursuing her post graduation in Commerce (Finance) from Department of Commerce, Delhi School of Economics and keeps on exploring the intricacies of research, her biggest strength.