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Do You Think Monero Will Be Around For A Long Time?

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by COINS NEWS 41 Views

The first time I’ve ever heard of Monero was when I first joined this sub a couple of years ago, I enjoyed the fact that it’s a completely private currency. (I do not hold Monero)

Monero is the leading cryptocurrency focused on private and censorship-resistant transactions. The majority of existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains. Transactions can be verified and/or traced by anyone in the world. This means that the sending and receiving addresses of these transactions could potentially be linked to real-world identities. Monero, on the other hand, uses various privacy-enhancing technologies to ensure the anonymity of its users.

Monero transactions are confidential and untraceable. Unlike selectively transparent alternatives (e.g. Zcash), Monero is the only major cryptocurrency where every user is anonymous by default. The sender, receiver, and amount of every single transaction are hidden through the use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT. Because every transaction is private, Monero cannot be traced. This makes it a true, fungible currency. Merchants and individuals accepting Monero do not need to worry about blacklisted or tainted coins.

Monero is electronic cash that allows fast, inexpensive payments to and from anywhere in the world. With Monero, there are no wire transfer or check clearing fees, no multi-day holding periods, and no fraudulent chargebacks. Because Monero is decentralized, it is not constrained by any particular legal jurisdiction and provides safety from capital control.

I find Monero to be a really badass coin, with real world use case for private transactions. I do not hold Monero at all, but doing some research it seems like a great tool to use when making certain transactions.

Do you guys think Monero will be around for a long time? Possibly even forever?

submitted by /u/lordcolorado
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