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Monero’s [XMR] community ‘seems honest,’ while ZCash community ‘scares’ me, claims former Bitcoin developer

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Monero's [XMR] community 'seems honest,' while ZCash community 'scares' me, claims former Bitcoin developer
Source: Pixabay

The privacy oriented digital coin, Monero [XMR], garnered attention from the crypto community after its transactions hit an all-time high following Bitcoin’s pump over $6,500 and BTC breaching subsequent resistances.

At the recent Magical Crypto Community Conference, Peter Todd, former Bitcoin Core developer, applauded the privacy coin’s community, while criticizing the community of another privacy coin, ZCash.

Talking about Monero and ZCash communities, Todd said that the XMR community “seems honest” and represents the coin “accurately.” ZCash however, scares the former developer. Despite admitting that the technology behind the privacy coin ZCash “is quite good,” Todd alleged that certain posts by the ZCash community on social media platforms are “inaccurate and misleading.”

He went on to say that he would rather have a community that is “honest and accurate” and one that represents the technical capabilities of the digital coin.



While highlighting the fact that Monero is “perfectly blinding” and Bitcoin is “perfectly binding,” Todd was asked if that is a fundamental flaw the privacy coin needs to eliminate. Todd responded by asking why there cannot be two systems with different use cases and different capabilities. Todd further added,

” .. smaller number of currencies are more efficient than a larger number so I would rather see something like add-ons to Bitcoin, where you could take your Bitcoins and move it off into something like Monero.”

Todd also touched upon the topic of Bitcoin’s fungibility. At the conference, the former developer was asked whether he would accept blacklisted Bitcoins from a recent hack. To the question, Todd replied that he would since he believes that currently, “Bitcoin is fungible enough.”





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

Namrata Shukla

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Binance coin [BNB] registers ATH as it surges by over 16,000% since inception
Source: Pixabay

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.

Source: Trading view

Source: Trading view

Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.



Source: CoinMarketCap

Source: CoinMarketCap

In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.

BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.





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