Compendium of Monero Project Info (Please contribute, it's easy)

This is an excellent goal. I'm trying to visualize the information in a series of videos, and my first is just introducing Monero in general. I have published the script that I have made for the video here, and it is also listed below. I'm open to any corrections, criticism, etc. I also have some PowerPoint visualizations that I have prepared here, which should help you visualize how I would like to present the information. This has to be redone for the actual video, but feel free to comment on the general style as long as you understand this is very much brainstorming and already deprecated.

What is Monero? Monero is a secure, private, and untraceable cryptocurrency. You can use it to buy goods and services like you would with any other currency, but there are a few important differences. Monero has three important features. It is decentralized, which means that it is supported by users across the globe instead of a central authority such as a bank or a government. It is private, which means that Moneroj can be exchanged without another party knowing. Finally, it is digital, which means that transactions can easily be processed around the world with great efficiency. No other means of exchange currently exists that provides all three of these benefits. Some other cryptocurrencies such as Bitcoin and most others are both digital and decentralized but not private. These currencies keep a traceable record of all transactions ever on a database called the blockchain. Anyone can download, search, and analyze this file at any time with little effort. Perhaps the best examples of items that are decentralized and private but not digital are precious metals such as gold and silver. They don’t belong to a single bank or government, and you can do whatever you want with them, but it is nearly impossible to exchange quickly and over long distances. Finally, fiat money such as the US dollar, Euro, and British Pound is private and recently digital with the help of online banking and startups like PayPal. However, since the currency is controlled by a government and held by a bank, it is completely centralized. Now let’s make a few distinctions between Monero and other cryptocurrencies. What is so special about Monero that makes it private? Well, it consists of three distinct components, the first of which are called ring signatures. Ring signatures are a special property of certain types of cryptography that make the sender and receiver in a transaction ambiguous. Let’s look at a typical transaction. Suppose Jack wants to send Jill 20 XMR in exchange for a cake that she has made, so he takes out his phone and sends the amount to her address. In a typical cryptographic transaction, it would show Jack giving Jill the money directly. However since they are using Monero, he mixes his coins with others on the blockchain. Try as she might, Jill, hackers, and government entities cannot find out who the money came from. They know that it could have come from Jack, but they cannot be sure just by looking at the list of transactions. Now let’s say that Jack wants to buy a coffee from Sam, but Sam only takes Bitcoin. Jack can use the service XMR.to to easily and automatically pay Bitcoin addresses while still using the strong privacy protections that only Monero provides. The second item that keeps Monero secure is RingCT, a special protocol that hides the amount of each transaction. Now people will have no way of knowing how much money is being sent and received anymore, adding an additional layer of protection on top of the already effective ring signatures. This feature was recently added in version 0.9. Finally, Monero is working with I2P to hide the fact that you are even using Monero in the first place. I2P is another decentralized service that helps conceal the IP addresses of users similar to how Tor works, but there are some important differences that Monero can take advantage of. All three of these qualities come together to create an unprecedented level of anonymity. [Insert sentence or two about why anonymity important] Monero is still under development, but it is surprisingly easy to use. It works on nearly every device including Windows, Mac, Linux, FreeBSD, and soon on ARM devices such as the Raspberry Pi. Community activists have even created a complete operating system for Monero that you can easily run on any old computer that you have. And of course, you can always build from source to get the bleeding edge version. You can also transfer funds using web wallets which are available on every device that can access a web browser. You can receive and send money from on the go. Monero is easily purchasable on a variety of exchanges. Pick up some today! [Closing]

/r/Monero Thread