Bitbns founded recently in December-2017 has made the purchase of Monero [XMR] available in India. Monero [XMR] is available in India at the price of 1 XMR = 23,001 INR as on Saturday 3rd March at 11:51:12 AM. The prices have been toggling between 24,997 to 23,001 INR.
Monero being a derivative of Bytecoin uses a protocol called Cryptonote. This was very well received by the cryptograph analysts when it was published in 2014. The anonymity of Monero transactions is based on using a temporary receiver’s address instead of its public address. Only the issuer and the receiver are required to check the transactions. The cost of the transactions depends on the desired level of anonymity which can be chosen by the issuer.
Monero had released its Android Mobile wallet last year. They had also released their software named Helium Hydra followed by a few protocol upgrades.
The usage of blockchain blocking methods by XMR has given it an upper hand over Bitcoin or other variants in terms of anonymity. It aims to be an interchangeable and untraceable mode of payment.
Union Minister in India mining Monero:
According to the tweet, the conflict was about the website ‘user’s permission’.
According to Factor Daily reports, some of the most popular Indian websites with millions of user traffic are infected by malware used to mine cryptocurrencies. This might probably be a case of cryptojackers who hijack websites by inserting Coinhive scripts in the web code.
Ravi, a Twitter user commented:
“Most incompetent and inept minister.. makes tall claims about Aadhaar security in the media but cannot protect his own website against cryptojacking…”
The presence of the Coinhive script in the source code of the website was verified confirming the script’s presence along with an instruction set on how to operate it.
Another Twitter user, Anand comments:
“Poor CPUs, So what this could be really ? A hacked website which injected that into the pages? or probably a developer deliberately has been learning and playing around with CRYPTOs and thought what could be a better use of Innocent Visitors’ computers!”
The website has been taken down and anybody who visits the sites is greeted with ‘Account Suspended, contact your hosting provider for further information’ message. The Ministry of Law and Justice is yet to add his comments on the matter.
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