About Ryo Currency
Ryo Currency in Jun 2018 and based on the Cryptonote foundations of Monero, Ryo is headed by fireice_uk and psychocrypt, a duo with development work on opensource mining software proof of work algorithms.
The team claims that the Ryo blockchain does not have the 0-mixin Ring Confidential Transactions (RingCT) that characterize older Cryptonote chains because Ryo has ring sizes of 25. These settings reportedly reduce the chances of being identified and traced by blockchain statistical analysis. The Ryo developers implemented a uniform transaction ID system that hides the use of payment
Ryo Currency because all transactions now have a uniform ID that is retrofitted with the old payment ID system. The team claims that Ryo is the first amongst various Cryptonote currencies to implement this feature, which addresses the metadata leak that reportedly affects Cryptonote coins with payment IDs.
Ryo aims to function as a store of value that is suitable for highly confidential transactions. The core mission of the project is to deliver a currency with true fungibility. This means that each coin is equal and interchangeable; the team claims that it is highly unlikely that any coin can ever by blacklisted due to previous transactions.
Confidently Transact with the Highest Degree of Anonymity
Private
Ryo was conceived with the highest levels of privacy in mind. From day one, Ring Confidential Transactions (RingCT) with minimum ringsize of 25 were implemented to conceal every transaction. Ryo Blockchain analysis is impractical. Have piece of mind knowing that what you choose to do with your money is your business, not anyone else’s.
Untraceable
As privacy is the core foundation of Ryo, sending and receiving addresses are encrypted and transaction amounts are obfuscated by default. Disposable ghost addresses conceal your real Ryo address from senders, allowing for truly anonymous and untraceable transactions. The uniform payment ID system, makes transactions that use payment ID-s untraceable and hides the very fact that you use ID-s.
Decentralized
Ryo Currency adds privacy to the core of Satoshi’s vision of a decentralized, trustless cryptocurrency. Many other cryptocurrencies fell prey to centralization caused by ASICS/FPGA/BOTNETS. Ryo will – as it has in the past – not allow this type of centralization to occur on its network through continued development of Ryo and its Cryptonight-GPU algorithm.
Fungible
Ryo is truly fungible because of its built-in privacy features. Just like cash, nobody knows who had possesion of any particluar coin before them. Even better than cash, nobody knows the identity of who they’re sending their coins to. It is extremely unlikely that Ryo will ever be blacklisted by any third party due to any association in prior transactions.
Anonymous
Ryo Currency allows you to use a new ghost address for every transaction you receive. Never receive coins with the same address twice, even further reducing the astronomically tiny chance of you and your transactions to be traced.
Easy to Use
The Ryo Wallet Atom is an user friendly, easy to learn wallet that lets you store, send and receive Ryo. The GUI wallet is one of the most easy-to-use and intuitive wallets around.
Choose Your Ryo Wallet
Web Wallet
Ultra-fast WEB based wallet – Ryo Wallet Quasar. Quasar brings the user friendly interface of desktop GUI wallet (Atom) to the web. When using Chrome-based browsers Quasar can be set up as Desktop App.
Command line
Ryo Wallet in form of cli (Command Line Interface) binaries – for power users, developers, pool owners. Available as precompiled binaries and source code for manual compiling.
Tips for securely storing your Ryo Currency
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.
Article Disclaimer
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .
