Why design a new currency based
on Monero?

Monero (XMR) is known for its highest standards of anonymity and privacy. At the same time, it is facing many challenges:

    - Slow processing speeds: average confirmation time for a transaction is circa 20 minutes
  • - Large transaction size: 50x larger than Bitcoin transactions due to complex cryptography
  • - Impossibility to scale: as new users join the network, it works slower
  • - Lack of GUI: having to use a command line scares away users
  • - Inefficient mining: covert ASIC mining and concentration of the hashrate by GPU pools
Non-fungible token support
Proprietary non-fungible token protocol
Mixed PoW/PoS
Combination mining for maximum efficiency and decentralization.
Scaling solutions
Implementation of Reusable Payment Codes.
Secure & user-friendly
Support of multisig, GUI wallet, & internal automated exchange service
Monero Rings

Company Roadmap

1
Q4 2018
Concept development, creation of the core team, designing the official wallet
2
Q1 2019
Hard fork at block #1781500 (February 28, 2019) and airdrop distribution of XRM coins, start of the bounty campaign, listing XRM at major exchanges, work on multi signatures for the wallet, support of other digital assets (XMR, BTC, ETH, Zcash, etc.)
3
Q2 2019
Introduction of multisig, preparation for the launch of PoS mining; introduction of fiat deposits and withdrawals inside the wallet;
4
Q3 2019
Test launch of PoS, work on the adaptation of Reusable Payment Codes; adding a currency converter/exchange service
5
Q4 2019
Mainnet launch of PoS, beta testing of payment codes, start of work on the Lightning Network-like solution
6
Q1 2020
Launch of Reusable Payment Codes, testing the Lightning Network scaling solution, work on a hard wallet
7
Q2 2020
Launch of the Monero Rings cold storage wallet

Monero Rings hard fork at block #1781500 - February 28, 2019, 21:00 GMT

All XMR holders will receive free XRM coins for at a 2:1 ratio. Important: you must hold XMR in a personal wallet, NOT an exchange wallet. Total emission: 30 million XRM. Distribution: 70% airdrop, 20% development, 10% bounty
Bounty

Monero Rings Mainnet is Live!

Frequently asked questions

Read the FAQ, you may find the answer there
Why is the team behind Monero Rings anonymous?

For the same reason that the majority of Monero developers remain anonymous: it corresponds with the principles of complete privacy and anonymity professed by Monero Rings.

How to receive free XRM coins?

If you have Monero in your local wallet before the hard fork, You just need restore XRM wallet from your XMR address’s seed. Wait for XRM wallet sync, you will get your XRM.

Why don’t you switch completely to Proof-of-Stake mining? Isn’t it more efficient and better for the environment?

First of all, the cryptographic system behind Monero and Monero Rings does not allow it: to transfer to PoS, you need to know how many coins each user has staked, and the architecture of Monero Rings protects this information. However, everyone who wishes to mine XRM using PoS will be able to do so, as long as they agree to disclose the amount of XRM they have staked.

Can I get free XRM if I hold my Monero coins in an exchange wallet?

No, you need to hold XRM in your personal wallet to receive free coins during our airdrop. For each XMR coin you hold we will award you with 2 XRM. Naturally, you will retain full possession over your XMR.

Will I have to leave the Monero blockchain to use Monero Rings, as it is often the case with hard forks?

No. In fact, our “hard fork” should more appropriately be called a “hard spoon” in the sense that it does not produce a split in the chain. It is not a matter of choosing either one or the other.

How is Monero Rings different from Monero?

Monero rings retains the focus on privacy, but it will also be more user-friendly. For example, we will introduce a fully graphic wallet interface with an implementation of Reusable Payment Codes, which allow one to send free payments to anyone in their contact list.

Have more questions?
See our Twitter page. If you have other questions about the fork, team or technology, get in touch on our the Telegram group or by mail [email protected]
Worldwide Open Source Project
Monero Rings is a global open-source project promising to deliver a true private cryptocurrency that scales. Monero Rings facilitates the desire to have a truly private and decentralized cryptocurrency that is also quick and easy for everyday use.