Monero is a secure, untraceable and resilient digital currency. Read Monero vs Bitcoin: Privacy and Design Trade-offs.

Glossary of the most important Monero terms

Public address

Also known as your address or wallet address . An example address looks like this: 43EH3omZSUYCmJYskCUx2tV5oB5tLVrp58AeMYLrFhcz2umUVQHiHu62nG5CS3mvcfgKHC3fPtq6DHkEbMjqvCAZJW5nw9E

Payment id

When someone sends you funds, they can specify a payment ID of their or your choice. Because Monero's privacy protections usually prevent you from knowing the source of funds that you receive, the payment ID can be used by the sender to identify themselves to you.

Integrated payment address

To make it easier for other people to send you funds with a payment ID that you require, you can generate an integrated address to send to them which contains both your public address and the payment ID you request them to use.

Wallet / wallet files / wallet software

Your wallet holds your private key, which allows you to view your funds and spend them. A wallet may be configued to only hold a view key, so that the wallet can observe your funds but not spend them. Your wallet also contains a list of transaction IDs and transaction keys, which allow you to see a list of payments you've previously made.

If you create another wallet from your seed (which is a representation of your private key), then you will have the full ability to spend your funds but you will not be able to see a list of transactions that you've previously made. This is why, if you need to see a history of your transactions, that you should back up your wallet files and not just your seed.

'Wallet' may refer to just the wallet files on your computer, or additionally to the wallet software that you run which allows you to view your wallet files and transact. Your wallet communicates with a Monero daemon to scan the blockchain for incoming transactions and to send new transactions.

Private key / Seed

Your private key is what allows you to spend your funds. Your 'seed' is just a 25 word representation of your private key which is easy for you to write down on paper. You must keep your private key a secret, or other people will be able to spend your funds. Your private key is the only thing you need to access and spend your funds. Your public address can be recovered from your private key, so you do not need to additionally keep a note of your public address.

View key, also known as a secret view key or private view key

Your view key is normally kept private. If you wish, you can give out your view key so that others can observe the contents of your wallet. For security reasons, you may use your own view key to observe your funds on a computer which may be at risk of attack. Therefore if that computer became compromised, the attacker could see that you have funds, but not be able to steal them. Your private key would be kept safe and only used when you need to send funds when on a more secure computer.

View tags

A wallet scanning optimization feature implemented in Monero's August 2022 network upgrade. View tags are small cryptographic hints attached to transaction outputs that allow wallets to quickly determine whether an output might belong to them before performing expensive cryptographic operations. When scanning the blockchain, your wallet first checks the view tag (a very fast operation), and only if the view tag matches does it proceed with full cryptographic verification. This reduces wallet synchronization time by approximately 30-40% without compromising privacy or security. View tags are created by the sender and are unique to each output, ensuring that only the intended recipient's wallet will see a matching tag. This improvement is particularly helpful for users syncing wallets after being offline or setting up a wallet for the first time.

Daemon

'Daemon' is a technical term for a program that runs in the background. Monero uses a daemon to synchronize with the Monero network to scan for incoming transactions and to send new transactions. Your wallet needs to use the daemon to scan the entire blockchain for incoming transactions, because only your wallet has your private view key. Only your private view key can be used to detect which transactions on the Monero network have been sent to you. This is a key part of Monero's privacy technology.

Dandelion++

A network-layer privacy protocol that obscures the origin of Monero transactions by disguising which IP address initially broadcast a transaction. When you send a transaction, Dandelion++ first relays it through a random path of nodes in a "stem phase" before publicly broadcasting it in a "fluff phase." This makes it extremely difficult for network observers to determine which node originated the transaction, protecting your IP address privacy. Dandelion++ is an enhanced version of the original Dandelion protocol, offering improved resistance against sophisticated network analysis attacks.

Balance / Unlocked balance

When someone sends you funds, they will appear in your balance. Once the Monero network has 'confirmed' the transaction 10 times, which will take on average 20 minutes, your funds will become spendable and will be listed as part of your 'unlocked' balance. The 10 confirmation minimum is necessary to prevent double spending by the sender.

Bulletproofs / Bulletproofs+

A cryptographic range proof system used in Monero's RingCT to prove that transaction amounts are valid (positive and within acceptable ranges) without revealing the actual amounts. Bulletproofs replaced the earlier range proof system in 2018, significantly reducing transaction sizes. Bulletproofs+ is an optimized version implemented in August 2022 that further improved transaction efficiency and verification speed while maintaining the same strong privacy guarantees.

Refresh / synchronization

Because of Monero's privacy mechanisms, your private view key needs to be used to scan the blockchain to detect transactions destined for you. This means that until your wallet software has scanned the entire blockchain, you will not see your funds appear in your wallet's balance.

Mining / Blocks / Blockchain

Mining is the process by which the network of Monero nodes collectively verifies transactions, in exchange for a small transaction fee. When transactions are mined, this causes them to appear in a block, which is added to the blockchain. The blockchain is therefore the entire record of all Monero transactions that have ever taken place. Monero's privacy mechanisms ensure that the blockchain can only be used to reveal information about transactions to those involved in the transaction. The blockchain is necessary to prevent the double-spending of funds, because it contains the information necessary to verify that funds have not already been spent by their owner.

Mining pool

A group of computers that together run mining software to process Monero transactions and collectively share in the reward. The advantage of a Mining pool is that a single computer would take too long to mine a single block if it were working alone, and so the owner of the computer would have to wait unreasonably long to receive their first share of the mining rewards.

P2Pool

A decentralized mining pool for Monero that allows miners to pool their hashrate without trusting a central pool operator. Unlike traditional mining pools where the operator controls the block rewards and could theoretically steal funds or censor transactions, P2Pool operates as a peer-to-peer network where miners collectively build blocks and share rewards based on contributed work. P2Pool uses a sidechain with much faster block times (several seconds) to track individual miner shares, then distributes rewards when the main Monero network finds a block. P2Pool includes "P2Pool Mini" for smaller miners with lower hashrates. P2Pool is recommended for miners who want to support Monero's decentralization while still earning regular payouts comparable to traditional pools.

Ring size / Privacy level

When you send funds, Monero's privacy mechanism obscures your funds as a possible source by mixing in other sources of funds in the transaction through ring signatures. It is impossible for any observer to know which is the real source of the funds, and only you can prove that you were the real source by deciding to reveal the secret transaction key generated by you for that transaction.

As of 2026, Monero uses a mandatory ring size of 16, meaning your transaction will appear to be one of 16 possible sources. This consists of 15 decoy outputs randomly selected from the blockchain plus your actual output. The term "mixin" was historically used to describe the number of decoys (so a ring size of 16 uses 15 mixins), though this terminology is now deprecated in favor of "ring size."

Remember that every other person sending a transaction may randomly select your funds to be a plausible source in their own transaction. This means that although it may at first seem like you are one of 16 possible senders, the aggregate effect of all Monero users constantly mixing each others' funds means your privacy level is radically higher than the number would suggest. Over time, it will appear as if you've plausibly participated directly or indirectly in transactions with most other Monero users, even if you rarely use Monero.

Seraphis

A next-generation transaction protocol abstraction proposed as Monero's future upgrade, currently under development with expected implementation timeline of 2026-2027 or later. Seraphis represents a fundamental redesign of how Monero transactions are constructed, offering several major improvements: compatibility with much larger anonymity sets (potentially full-chain membership proofs), more efficient transaction structures, improved multisignature support, and flexible view key systems that allow viewing spent outputs without constantly exporting key images. Seraphis will require users to generate new addresses from their existing wallet keys, though private keys and wallet recovery seeds remain unchanged. When implemented alongside FCMP++, Seraphis could enable anonymity sets covering all historical outputs rather than just small rings. This upgrade is not yet deployed and remains in active research and development.

Jamtis

A new address scheme designed to work with the proposed Seraphis transaction protocol. Jamtis addresses will begin with the prefix "xmra" and are 196 characters long. Unlike current Monero addresses, all Jamtis addresses function as subaddresses with no concept of a "main address." Jamtis introduces several improvements: Recipient IDs (RIDs) which are 25-character identifiers that make address verification easier over phone or insecure channels; enhanced view key functionality with separate keys for viewing incoming outputs, viewing amounts, and detecting spent outputs; and better support for hardware wallets and multisignature setups. Jamtis addresses will not be compatible with current CryptoNote-style Monero addresses, meaning users will need to generate new Jamtis addresses when the Seraphis upgrade is deployed. This technology is under development and not yet implemented in Monero.

Transaction priority

Your transaction will be mined into a new block on the blockchain. However, if there are a lot of transactions occurring, your transaction may not make it into the very next block that is mined, and so you may have to wait a few more minutes for your transaction to be included in the blockchain. You can increase your transaction priority to compete for position in the next block that gets mined. Usually, there is no reason to increase your transaction priority because there will most often be room in the next block for your transaction. Monero has been designed to automatically increase the size of blocks as transaction volume increases, which means you only need to adjust your transaction priority higher if the Monero network is temporarily experiencing a surge in transaction volume and the Monero network has not yet adjusted upwards the sizes of blocks that are created to store those transactions.

Sweep unmixable

A legacy function that appeared in older versions of Monero wallet software. This feature was only relevant for users who received payments before the implementation of RingCT in January 2017, when Monero used denominations and transparent amounts. Pre-RingCT outputs could only mix with other outputs of identical amounts, making some outputs "unmixable" if no matching denomination existed. Since RingCT became mandatory in September 2017, all new transactions use confidential amounts, making this function obsolete for modern Monero users.

Exchange

A place you can go to exchange dollars, Bitcoin or other currencies for Monero.

FCMP++ (Full-Chain Membership Proofs)

A major privacy upgrade under active development for Monero, expected for potential deployment in 2026 or beyond. FCMP++ will replace the current ring signature system with a fundamentally different approach: instead of proving a spent output belongs to a small ring of 16 possible sources, FCMP++ proves that the spent output belongs to the entire set of unspent outputs on the blockchain. This expands the anonymity set from 16 to potentially 100+ million outputs, making transaction analysis statistically impossible even with advanced techniques. FCMP++ uses cryptographic curve trees and zero-knowledge proofs to achieve this while keeping transaction sizes practical. Once implemented, this upgrade will represent one of the most significant privacy improvements in Monero's history.

XMR

The currency code for Monero.

GUI

GUI Stands for Graphical User Interface. It makes it easy for you to use Monero.

CLI / Command line interface

A text only application that does not have a graphical interface.

Stealth address

When a transaction is sent, Monero does not publicly record the recipient's public address as the destination, and instead creates a new anonymous one-time address as the destination that is not linked to the recipient's public address. This one-time address is called a stealth address, because it ensures that your public address does not appear on the blockchain. Only the recipient has the necessary secret view key to scan the blockchain to locate these one-time destination addresses that contain the received funds.
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