Lately, the Monero market went offline which is a darknet marketplace that deals with the transactions done exclusively through Monero (XMR). But it is a fortunate event or probably the news that the Monero market is all ready to join their users in January 2017 as per the representatives. Monero is an open source Cryptocurrency that was officially launched on 18th of April 2014 as Bit Monero. The particular digi-currency is based on the CryptoNote protocol has been witnessing an unparalleled growth lately due to a number of the reasons. Monero provides a lot more anonymity as compared to the other Bitcoin Cryptocurrency and this has resulted in the increase in it being the better alternative for the darknet marketplaces.
According to the headlines in the cryptocoins, an anonymous representative of the Monero market repeated at this point and has speculated on the growth of the Monero Cryptocurrency in the forthcoming years. At this point of time, it is one of the top five most valuable cryptocurrencies that has left Litecoin and Steem behind. The Monero market is offline temporarily which it says has been decided under several reasons. A post on Reddit by the Monero team stated that there is a current lack of stimulus for the markets that exclusively uses XMR.
The Monero Market was launched officially on 30th of September 2016 and until 20 days there were no transactions. This hinted that most of the Monero users are holding the XMR Cryptocurrency instead of using it. The online statement also emphasizes that the costs and risks that are involved in operating the darknet market is not at all feasible at present. The Monero market admins have promised to release an upgraded version of the Monero market when they will reopen it.