👉 Monero is a cryptocurrency that was created by a group of developers in 2013. It uses a decentralized system and has gained popularity due to its unique features, such as a short transaction time, low fees, and high liquidity. Monero's blockchain is based on the Proof-of-Work (PoW) consensus mechanism, which requires miners to verify transactions for blocks before they can be added to the blockchain. This process ensures that no single miner controls the entire network and ensures that