Dero (DERO) Market Capitalization Tops $19.78 Million

Dero (DERO) traded down 1.3% against the US dollar during the 24-hour period ending at 0:00 AM ET on October 23rd. Dero has a market capitalization of $19.78 million and $6,604.10 worth of Dero was traded on exchanges in the last 24 hours. One Dero coin can currently be purchased for $1.38 or 0.00002053 BTC on exchanges. During the last week, Dero has traded 15.6% higher against the US dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded up 0.3% against the dollar and now trades at $67,309.15 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 1.1% higher against the dollar and now trades at $0.14 or 0.00000208 BTC.
• Bitcoin Cash (BCH) traded 0.5% higher against the dollar and now trades at $356.41 or 0.00529518 BTC.
• UNUS SED LEO (LEO) traded up 0.4% against the dollar and now trades at $6.10 or 0.00009057 BTC.
• Litecoin (LTC) traded 1.4% higher against the dollar and now trades at $70.09 or 0.00104139 BTC.
• Monero (XMR) traded down 0.1% against the dollar and now trades at $157.56 or 0.00234084 BTC.
• Ethereum Classic (ETC) traded down 0.5% against the dollar and now trades at $18.81 or 0.00027946 BTC.
• Arweave (AR) traded down 0.4% against the dollar and now trades at $18.13 or 0.00026936 BTC.
• Bitcoin SV (BSV) traded down 0.4% against the dollar and now trades at $47.53 or 0.00070608 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Dero Coin Profile

Dero (DERO) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 27th, 2018. Dero’s total supply is 18,400,000 coins and its circulating supply is 14,312,916 coins. Dero’s official Twitter account is @deroproject and its Facebook page is accessible here. The Reddit community for Dero is https://reddit.com/r/deroproject and the currency’s Github account can be viewed here. The official website for Dero is dero.io. The official message board for Dero is forum.dero.io.

According to CryptoCompare, “Dero is a crypto project to combine a proof-of-work blockchain with a DAG block structure and wholly anonymous transactions. It aims to be a revolutionary improvement from existing privacy coins like Monero (XMR) or Z-Cash (ZEC). Dero intends to do that by combining the best of both consensus mechanisms.

Its implementation builds out a main chain from the DAG network of blocks, which refers to main blocks and side blocks. Side blocks contribute to chain proof-of-work security, making traditional 51% attacks impossible. In contrast to traditional blockchains, Dero considers the transaction as the smallest unit of computation, not the block. Therefore, blocks on Dero can contain duplicate or double-spend transactions, but these are filtered by the client protocol and ignored by the network.

Dero aims to manage combining the security and decentralization of a proof-of-work blockchain with the scalability and transaction speed of DAG technology. Dero’s goal is a blockchain network that can serve businesses and individuals worldwide and support secure, fast, and anonymous transactions and smart contract execution.”

Buying and Selling Dero

It is usually not possible to buy alternative cryptocurrencies such as Dero directly using US dollars. Investors seeking to trade Dero should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Dero using one of the aforementioned exchanges.

DERO/USD price chart by TradingView