What is the algorithm for Monero (Monero randomx)?

The algorithm for Monero is based on the Bitcoin blockchain protocol and developed by the MimbleWimble team. MimbleWimble is a decentralized system that uses cryptography to create a form of cryptocurrency that operates on Ethereum. This algorithm is known as zero-knowledge proof (zk-SNARK), which allows privacy to be transferred to users, miners, or node operators, thereby eliminating distrust between transaction parties. Monero uses a new mathematical model called Zcash: a process that calculates block header information. This process can be used to generate the hash value of a new block header and perform random allocation (timestamp). This digital token has two uses: as a means of payment and as a hedge against inflation and depreciation using fiat currency or stable assets.

Monero randomx

The anonymous wallet for Monero, RandomX, officially launched at 12:40 am Beijing time on August 1st. This project combines features of zcash (ZEC) and Monero (XMR), adding privacy transactions to its platform, and also has decentralized characteristics that provide users with secure anonymous services. It also supports smart contract functions and other innovative features on the Monero network.

RandomX is an anonymous protocol initiated by members of the Zcash community with the aim of helping users protect their digital assets from fraud. The project’s code has been audited and is currently undergoing further review by a third-party auditing firm. (U.Today)

Earlier, the official Monero Twitter account announced that they would release a wallet related to randomx and information about new features in early September.