Monero (XMR) – With so many digital currencies out in the market today and a lot more under development soon to be born, one might ask, which ones will make it for the long haul and eventually perhaps become a world standard? One of the many reasons investors, traders, and users of cryptocurrencies prefer for a coin to have is the provision for privacy and security. In the crypto world we know of today, nothing can be as private as Monero, dubbed “The Privacy Coin”.
Monero (XRM), The Ultimate Privacy Coin
There are countless reasons why users prefer a private, anonymous platform in the crypto universe. Monero or XMR boasts of its stealth address platform and being unlinkable. From sending to receiving money, parties can choose to be anonymous unless they prefer not to. Payments and transactions can be made with the elements hidden unless specified as not. Aside from users, people who can see or observe Monero’s network are unable to see the value or amount of funds sent or went through a transaction.
Transactions made within the Monero platform are said to be literally “untraceable”. No details of any fund transfer, payment or transaction can be traced or seen if made within Monero’s blockchain platform. This is possible with the use of their own “ring signature” or Ring CT. This protocol is a cryptographic system from within Monero which earned it the name, The Privacy Coin. The developing team behind Monero are also very keen on making sure that various updates and development the coin go through are taken care of. Kvri and Multi-sig updates are just some examples. The crypto community is also aware of the Monero team’s public rapport which affects its performance and value as well in a positive way.
Monero: Ring Signatures: https://t.co/yEOT6GlSGG
— Monero || #xmr (@monerocurrency) June 12, 2017
Many of the cryptocurrencies existing today have problems with scalability; but not so with Monero. Transactions within the platform behind XMR are not interactive and short. This makes them cheaper fees and Monero a faster network compared to a whole lot of other altcoins.
Monero Outperforms Bitcoin In Terms of True Privacy Features
In terms of privacy, when compared to Bitcoin, Monero is much superior. Unlike Monero, Bitcoin does not have the necessary features or functions for it to be fully private. Bitcoin, along with many other of the digital currencies does not have the ability to hide addresses. In fact, Bitcoin payments or transactions are very easy to trace and the sender could be identified. Multiple transactions onto one wallet would link both the sender’s and receiver’s addresses in Bitcoin unless a new account was made for each transaction. Even the amounts could easily be seen or known in other cryptocurrencies; Monero was fast to address these factors from start.
Monero’s Future Proof Privacy Platform Attracts More Investors
As with any investment, trading transaction or financial undertaking, most will prefer being protected under the cloak of privacy. With privacy intact, users feel secure and at ease not only due to their successful transactions but perhaps their personal safety as well. As Monero is on a constant drive to further improve their privacy platform, more and more people not only from the crypto community are starting to give good notice. The crypto world was in awe to know that such a simple core function would actually generate a growing number of supporters and willing investors as Monero has shown.
As an upgrade to Monero’s already stable platform, developers plan to incorporate the I2P or Invisible Internet Project. The I2P system is another level of privacy protocol that not only hides the users and transaction details but actually even the platform itself. With I2P integrated with Monero, outsiders or observers from elsewhere cannot even know if Monero is being used. This is due to I2P’s routing and asymmetric connectivity in a decentralized manner which hinders attacks.
Due to its privacy features, Monero is considerably ready for the future computers to come. These new lines of technology known as quantum computers are said to have thousands of times more computing power than the most powerful computers we know of at present. With Monero on the forefront of securing privacy within its transactions and on a continuous journey to develop it more, compared to many, Monero has a big fighting chance. This simply makes Monero ready for the future, and it relates to being a great investment opportunity.
Monero also supports a research endeavor dedicated to the further development of securing blockchain systems even more. This involves many experts and individuals from all over the world working relentlessly to attend to whatever flaws they find and hopefully perfect a blockchain platform not only for the crypto community but everyone in general as integrations of traditional systems with that of the crypto world happen daily. With such extensive efforts of perfecting a blockchain platform with the purpose of the ultimate privacy to protect its users, Monero is definitely here to stay and there is no other way but for it to accumulate in value and supporters.
Monero Expected To Double Its Value In Two Years
As with all digital currencies and even fiats, there always are predictions made by analysts and experts. At the time of writing, Monero’s market value is priced at $ 197 USD. Some sources believe that by January of the year 2020, Monero would have a value of $ 382 USD. That’s almost double its present value now. Although not as a giant leap as what Bitcoin did on its all-time high, Monero’s statistical data are realistic and more for the long run which do attract long-term investors aside from those who want the ultimate privacy to conduct their transactions.
As experts agree to say, Monero is not only the ultimate privacy coin but it is well ready for the future. This means and signals a green light for investors looking for a secure, safe, efficient and private investment they can engage in with confidence. As many become more aware of what Monero is all about, supporters increase in number and so does its value.