Connect with us
CLOSE

Monero News

Monero Improving Privacy As A Coin: How Does It Work?

Published

on

Monero's price

The latest cryptocurrencies news today show that there are just so many interesting coins out there but one of them is the privacy coin Monero. Many media outlets posted about the topic of Monero improving privacy as a coin but today, we are going in detail about how the coin gets a footing in mainstream commerce and finance.

As the “altcoins” grow in prominence, Monero (XMR) is one of them because it allows users to conceal nearly all details of transactions. This is why XMR is known as a privacy coin and has been used for illegal purposes, too.

Ever since its launch in 2014, Monero has grown to be the 12th biggest cryptocurrency by market capitalization, holding around $1.4 billion in circulation. Now, it ranks on the 14th position and its circulation is a bit lower.

But how is Monero improving privacy as a coin?

Well, every transaction in the network obscures the digital addresses of the senders and receivers as well as the value of the transaction. This offers users near-total anonymity and allows them to instantaneously send digital cash without leaving any clues.

Bitcoin was seen a lot like opaque as the identity of the owners of digital wallets used to send and receive the coin is not public. However, details surfacing give up clues that BTC can be used to pinpoint identities while Monero is protecting the address in a unique way.

More and more criminals want to be paid in Monero and while this is not a good use of the coin, it is showing that XMR has strong privacy features. The Monero news are underlying a trend for criminals to seek alternatives to Bitcoin and Bitcoin proponents say that traditional cash is also widely used for criminal activities.

On top of this, Monero is also used for “cryptojacking” as another method of illicit mining which lets hackers infect computers and steal their power to mine new coins. The developers at Monero agree with this and say that “there is a clear phenomenon of the underground using Monero, and selling malware that will contribute to Monero mining.”

So, the concept of Monero improving privacy as a coin is big but the illegal use of the coin is also growing. Like BTC, Monero is governed by a virtual community of hundreds of developers without a centralized authority. If we want to see changes in the future, a certain crypto regulation must be put to action.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Bitcoin News

Bitcoin Founder Also Created Monero (XMR): New Research

Published

on

By

bitcoin founder also
A new research indicates that the Bitcoin founder also created the Monero (XMR) cryptocurrency. Satoshi Nakamoto, which is the infamous pseudonym for the creator of Bitcoin, is now linked to the Monero news and shows that the creator had motives to improve Bitcoin's algorithm when creating this altcoin. While no one still knows who is behind the Satoshi Nakamoto name, a research document suggests that the Monero cryptocurrency might have been created by the same person who created Bitcoin. As you probably know if you are reading our cryptocurrency news, Monero is a cryptocurrency that came out in 2014 to address the Bitcoin privacy issues. Even though the former uses a public ledger, no one can trace transactions on it. This makes XMR the most used coin among dark web users, too. Monero's whitepaper was published on December 12, 2012. This is three years after Bitcoin's genesis block. The author of this whitepaper is Nicolas van Saberhagen and as you might guess, this is another pseudonym which might be showing that the Bitcoin founder also created Monero (XMR). The truth is, no one knows who created Monero (XMR). According to outreach, the pseudonyms Satoshi Nakamoto and Nicolas van Saberhagen are the same entities. The main argument provided by the research authors is that Nakamoto had a clear motive to release the CryptoNote whitepaper, which is the document laying out the Monero concept. In a BitcoinTalk forum post from August 2010, Nakamoto shared the first concepts of privacy that would later show up in Monero's whitepaper. These include stealth addresses and ring signatures, hiding receivers and senders of XMR. Besides this, when CryptoNote 1.0 came out, Nakamoto had already observed Bitcoin's block size changes as well as the mining reward halving. Monero's blockchain addresses those issues, and it also improved the proof-of-work to make mining more available to anyone using typical GPUs. Some similarities are visible with the naked eye now. For instance, both whitepapers used the spelling of "favour/favourable" and the contraction "can't" instead of the typical style observed in academically formatted papers. This may indicate that the Bitcoin founder also created Monero (XMR) in the first place. Currently, both XMR and BTC are gaining from the market changes and could be surging in the coming days as well.
`
Continue Reading

Monero News

Monero Outperforms Bitcoin In The Latest Bull Rally

Published

on

By

monero outperforms
Monero outperforms Bitcoin in the latest price bull rally when the BTC price started to increase against the USD. Bitcoin was going well against most of the cryptocurrencies except for Monero. While the cost of the number one cryptocurrency increased by 2% in the past seven days, Monero increased by more than 6% at the same time. XMR is now up by more than 6 percent against the USD, which means Monero outperforms Bitcoin, and we are reading more about the reasons in the latest monero news. There are many reasons why the XMR price outpaced Bitcoin a few days ago. For example, the development community released a new update for its Carbon Chameleon Software, and with the latest update, the XMR transactions will be faster and more efficient. This is expected to change the way Monero’s blockchain interacts with Tor and 12P for its private networks. The blockchain gained a lot of attention over the past few weeks from popular members within the crypto community. The CEO of Coinbase Brian Armstrong, commented about the importance of privacy and stated:
 “I think we’ll also see privacy integrated into one of the dominant chains in the 2020s. Just like how the internet launched with HTTP and only later introduced HTTPS as a default on many websites, I believe we’ll eventually see a privacy coin or blockchain with built-in privacy features that get mainstream adoption in the 2020s. It doesn’t make sense in most cases to broadcast every payment you make on a transparent ledger.”
Currently, the only blockchain that provides this privacy level is Monero. John McAfee even commented that Monero is one of the top tokens to hold along Bitcoin. He even said that the technology behind bitcoin is old and that Monero has technological superiority over bitcoin:
 “Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”
While the price of XMR outperformed Bitcoin, the token is correcting lower against the USD right now after the bull run. The price of Monero was $53.91 at the time of writing, meaning it got down by 0.80% and down by 0.50% against Bitcoin. The trading volume of XMR is $155,566,289 and the market capitalization is $944,001,037.
`
Continue Reading

Monero News

Monero Is The Only Coin Outperforming Bitcoin (BTC) Now

Published

on

By

monero is the only
Even though most of the altcoins now follow Bitcoin in price movement, there are some coins that follow their own movement, too. Monero is the only coin outperforming Bitcoin (BTC) now. Despite the BTC rally this week which made the cryptocurrency climb along with gold, Monero is the only coin that outperformed it. The Monero news now show that the privacy-oriented crypto is currently ranking on 11th position and was the most valuable digital currency on CoinMarketCap, with a total value of less than $1 billion. Last week, XMR added around 5% and beat the Bitcoin gains. Monero price has the special characteristic of masking the users' identity, even more than Bitcoin. The altcoin news show that it was up by 6% in the past 24 hours, soaring as the crypto market climbed. Now that Monero is the only coin outperforming BTC, it is easy to see that the surge in its price is vague, even though there were plenty of positive developments for the coin in the past months. The developers of Monero have rolled out an update recently to the Carbon Chameleon software, designed for improving the transaction execution and the mechanism of the cryptocurrency with privacy networks Tor and I2P. As of recently, Monero and other privacy coins gained support from many high profile individuals in the tech sector and the crypto industry. The chief executive of Coinbase, Brian Armstrong, was one of those who expressed that privacy integration is one of the things that are most expected in 2020. https://twitter.com/officialmcafee/status/1213839069681205254 John McAfee also questioned something that is on our minds. He asked whether BTC could be the industry leader in the future - and whether this would mean a great opportunity for cryptocurrencies like Monero (XMR). Besides all of this, we can see that Monero is the only coin with gains in the top 15 today along with Binance Coin (BNB). XMR gained more than 1.43% overnight and is now trading at $54.48. BNB, on the other hand, added 1.84% to its price today and quickly arrived at $13.74. The total cryptocurrency market cap today is at $191 billion which shows some stability. The next target for the entire market is the $200 billion threshold, after which we could probably see more gains in the near future.
`
Continue Reading

Monero News

Satoshi Nakamoto Created Monero: New Research

Published

on

By

satoshi nakamoto created
While no one knows the real name of the Bitcoin creator, it seems that Satoshi Nakamoto created Monero as well, according to a new research document that we find out more about in the following Monero news below. The new research by Monero Outreach states that Satoshi Nakamoto created Monero as well as Bitcoin. Monero is a cryptocurrency that was launched to the public in 2014 to help solve the Bitcoin privacy issues. Bitcoin uses a public ledger, Monero helps to hide the transactions on the blockchain which makes XMR the most used cryptocurrency among the dark web users. The whitepaper of Monero was published in 2012 which is about three years after the Bitcoin genesis block was created. The author of the whitepaper Nicolas Van Saberhagen is also a pseudonym so no one actually knows who created Monero. Monero Outreach suggests that Satoshi Nakamoto and Nicolas van Saberhagen are the same person/entities. The main argument is that Nakamoto had the motive to release the CryptoNote whitepaper which lays out the Monero concept. Nakamoto shared the first concepts of privacy that eventually showed up in the Monero whitepaper including ring signatures and stealth addresses that help hide the senders and receivers of XMR. When CryptoNote 1.0 came out, Nakamoto followed the block size of Bitcoin and the changes in mining reward halving. The Monero blockchain addresses these issues and improved the proof-of-work to make mining more available. When analyzing the writing style of the whitepapers, you can see the same style in the two. The authors used stylometry or a software program called Java Graphical Authorship Attribution program and figured out that the author of the whitepapers was more likely to be Nakamoto than the author of any other 15 leading papers picked from the Monero literature. Some other similarities can be also seen with the naked eye. Both of the whitepapers used the spelling of favor and favorable and the contraction ‘’can’t’’ instead of the typical style that can be seen in academically formatted papers. The Outreach Creative Lead Thunderosa commented:
‘’When you first look at those two documents side by side you can get floored by the crazy similarities. Maybe we should start calling the author Satoshi van Saberhagen.’’
However, the research authors don’t quite expect that Bitcoin and Monero communities will embrace this revelation and the Monero Outreach Organized said:
‘’Like many, I’m still processing this. I will, though, say with confidence that if Satoshi Nakamoto is Nicolas van Saberhagen, Monero was Satoshi’s greatest work.’’
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Monero Improving Privacy As A Coin: How Does It Work?

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Monero Improving Privacy As A Coin: How Does It Work?

ADVERTISEMENT

oasistrade banner

ADVERTISEMENT

300 250 - Monero Improving Privacy As A Coin: How Does It Work?
FO710FC3F2305 1 - Monero Improving Privacy As A Coin: How Does It Work?

ADVERTISEMENT

300 600 3 - Monero Improving Privacy As A Coin: How Does It Work?

Trending Worldwide