What is Ryo Currency? What Does RYO Do?

What is Ryo Currency? Ryo Currency is a privacy-focused altcoin project powered by the Proof-of-Work consensus mechanism.

What is Ryo Currency? What Does RYO Do?
What is Ryo Currency? What Does RYO Do?

What is Ryo Currency? Ryo Currency is a privacy-focused altcoin project powered by the Proof-of-Work consensus mechanism. As Coinzigzag.com, we will examine Ryo Currrency in this article. However, 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-focused cryptocurrency like Monero and ZCash together.

What is Ryo Currency (RYO)?

Ryo Currency, Proof-of-Work (PoW) consensus mechanism It is a privacy-based altcoin asset. 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 RYO suitable for storing value without being tracked, spied on, and identified.

The cryptocurrency project focuses on several key areas to support transactions that offer high privacy. One of these areas is the crypto wallet. Accordingly, RYO Currency aims to develop and maintain its own wallet. They also build 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. Although the asset is a fork of Monero, it exists in a number of areas where it is better than it.

What does RYO do?

Ryo is a fork of Monero although it provides a 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. According to the team, thanks to this, it will become almost impossible to track RPG buyers. 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 buy RYO?

If you want to buy Altcoin, you need to access 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.