Connect with us

Altcoins

Monero [XMR] continues to gain popularity in the market because of its privacy feature

Arjun B

Published

on

Monero [XMR] continues to gain popularity in the market because of its privacy feature
Source: Flickr

In the market, Monero [XMR] continues to gain popularity because it provides a solution for privacy in transactions. Monero [XMR] is this openly sourced cryptocurrency which has focused mainly on decentralization and privacy. Monero requires less power and less heat is generated when compared to other cryptocurrencies.

The Monero mining rig has a longer lifetime with respect to some other cryptocurrencies. Monero/CryptoNight algorithm mining operations are lower than mining for other cryptocurrencies using different algorithms.

Monero [XMR] is now trading at the $243 zone. It has a total market cap of around $3 billion. The market price of Monero has dropped by 1.81 percent in the last 24 hours. Over the last week, we have seen a gradual decrease in the price of the coin.

In May 2014, the price of Monero [XMR] was under $1 but at the moment it has been dancing around $250. Within a span of 4 years, the price has increased by 250 times.

Recently, Monero [XMR] has been active on the African Market. iceCUBEd-X has also declared free trade for Monero till the 30th of May 2018.

Monero [XMR] is using ring signatures, ring confidential transactions, and stealth addresses to make it unintelligible the origins, amounts, numbers and source destinations of all the transactions of the tarde. Monero [XMR] has the benefits of the decentralized cryptocurrency, without causing any kind of privacy issues to the end users.

Monero [XMR] is an untraceable cryptocurrency. Sending and receiving information as well as transactions will remain untraced. Transactions on the Monero blockchain technology cannot be linked to any particular user. On the other side, a lot of criminals are preferring Monero due to its security feature. Japan’s Financial regulator, the financial services agency is planning on dropping the coin.

A crypto user says:

Privacy in itself is Utility. And it is very expensive and constantly in demand. It also guarantees fungibility and censorship resistance. Monero will always be the best Store of Value. Fight for it!”


Subscribe to AMBCrypto’s Newsletter


loading…


Trending