Monero For Beginners 7
Monero For Advanced 7
Monero Quiz 1
The True Potential That XMR Has In The Future
The true potential of the cryptocurrency has yet to be seen since many large corporations are willing to cooperate with this amazing platform. As we mentioned above, Monero is a safe, private and undetectable currency system. Monero employs an extraordinary kind of cryptography to achieve 100% unlinkableness and untraceableness.
The most important source that gives value to Monero is its privacy features. No one can find a link between you and Monero cryptocurrency transactions. This is reason to be the favorite cryptocurrency to those that are concerned with their anonymity no matter their reasons. Of course, some of these reasons will be illegal activities but there are ones that are of a different nature.
Some experts go very far to predict a brighter future to cryptocurrencies such as XMR when compared to the market leader – Bitcoin. However, Monero’s technology is different. Monero utilizes a different system of keys to that of Bitcoin and Ethereum. With these cryptocurrencies, there is only one pair of keys- a public and a private key. Monero utilizes a public view key, a private view key and both public and private spend key.
Monero’s true potential, on the other hand, is a superior mining algorithm. The mining is the process of running a program on a computer which verifies the crypto transactions that other people announce to the worldwide network. The creators of Bitcoin didn’t choose well when it comes to the mining algorithm. This one run on a faster custom made mining chips which means that it is almost completely pointless for any ordinary computer to try and mine this cryptocurrency. All of this gives Monero s a bright future and positions the company as a leader in the blockchain payment space
Monero is not bitcoin-based coin therefore it has faced difficult issues in the sense that it is harder to add things to it. Cryptocurrencies are risky investments and it is always a good idea to do your own research before investing. Remember to diversify your assets and it is not advisable to allocate more than 1% of your liquid net worth into any currency because it will leave you exposed to volatility. Miner centralization is a problem that Bitcoin was not able to solve and short of a contentious fork to change the proof of work algorithm, it seems that the mining centralization will remain for Bitcoin. Monero uses mining algorithms that are ASIC resistant which means It can be mined with standard CPU and GPUs.