What is Ryo Currency? Ryo Currency is a privacy-focused altcoin project powered by the Proof-of-Work consensus mechanism. As Kriptokoin.com, we will examine Ryo Currrency in this article. In addition, we will also answer questions such as what is Ryo Currency, what is RYO coin, and how to buy it, which is a curiosity among investors. Now let’s examine this privacy-oriented cryptocurrency like Monero and ZCash together.
What is Ryo Currency (RYO)?
Ryo Currency is a privacy-focused altcoin asset based on the Proof-of-Work (PoW) consensus mechanism. This cryptocurrency was created as a result of a hard fork on the Monero network. So basically it’s a Monero (XMR) fork. Therefore, the asset is similar in many respects to other privacy-focused cryptocurrencies such as XMR and ZCash. However, RYO aims to be a privacy coin that can be easily used by average users. The asset’s high privacy setting makes the RPG suitable for storing value without being tracked, spied on, and identified.
The cryptocurrency project focuses on several key areas to support highly confidential transactions. One of these areas is the crypto wallet. Accordingly, RYO Currency aims to develop and maintain its own wallet. They are also building gateways for broad acceptance among traders. The team is also making several improvements to increase the privacy, security and speed of RYO. Finally, the project has efforts to raise awareness about RPG. The asset, although a fork of Monero, exists in a number of areas where it excels.
What does RYO do?
Although Ryo is a fork of Monero, it provides higher ring size. Thus, it finds the opportunity to implement a renewed new private transaction system to support the old payment ID system. This system makes it possible to create a more secure cryptocurrency. To achieve this goal, Ryo Currency hides every transaction on its network. It does this with Ring Confidential Transactions with a minimum ring size of 25.
However, the altcoin is working on ZK-Rollups. Thanks to this, tracking down RPG buyers will become nearly impossible, according to the team. Since privacy is Ryo’s core value proposition, sending and receiving addresses are encrypted and transaction amounts are hidden by default. The real Ryo Currency address is hidden from senders via a disposable ghost address. Thus, truly anonymous and untraceable transactions become possible. Altcoin allows a new ghost address for each transaction. So users never use the same address twice.
What is Ryo Currency? How to get RYO?
If you want to buy the altcoin, you need access to crypto exchanges like SouthXchange and TradeOgre. These exchanges list RYO with Bitcoin (BTC) parity. Users who are members of one of the exchanges can buy cryptocurrencies over the relevant RYO Currency parity.
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