Privacy Coin Monero is the 12th largest crypto project per market cap and its price is hovering around the $68 price point. On its fifth birthday, we find out what did XMR achieve over the years and what can be improved in the coming altcoin news below.
The privacy coin monero is now down from its all-time high at $495 to where it was in 2018. The price of the cryptocurrency is now up by more than 7,000 percent over the past three years. The price is doing well after the recently increasing bullish sentiment on the market and has generated the buying pressure that boosted the XMR value by 30 percent over the past month. The price also increased by 50 percent over the last three months.
The increase in the price of the privacy coin monero coincided with the increase of attention on the social media that has been going around in the previous months with all the privacy concerns. Users have urged to improve the security of the digital currency exchanges after the many hacks that marked 2018. On XMR’s fifth birthday, the team member binaryFate explained:
“Monero gives you control over the privacy of your digital financial transactions. This privacy is a fundamental human right for individuals and a competitive essential for businesses.”
In the latest cryptocurrency news, we also pointed out that the privacy coin monero made huge technical progress. In 2018, XMR developers activated bulletproofs which is a type of zero-knowledge proofs on the blockchain. The development affected the XMR transactions which made them extremely cheaper.
Unlike other competitors, privacy coin monero was founded after the Bytecoin hard fork. It leverages ring signatures which makes possible for the identity of the sender to be hidden and all of the one-time keys are made unlikable. Combining with the Bulletproof program, the privacy on the blockchain is among the most advanced in the entire crypto ecosystem.
It is interesting to notice that Monero does not have a constant growing competition since many out there are not privacy-oriented. For example, Nightfall and Zether protocols can only hide the transaction details on the ethereum network.
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Deloitte Left Ethereum For VeChain, Made 20+ Smart Contracts Per Second
‘’We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we managed to execute 20+ smart contract transactions per second.’’Deloitte left Ethereum a week ago after the company explained they will be moving onto VeChain. Also, BMW joined the VeChain network as well and the transaction news comes after the announcement by Jaguar Land Rover where they also announced utilizing the IOTA blockchain as a crypto solution. Many significant companies are starting to build on less-popular platforms such as VeChain, EOS, and Tron. VeChain is an enterprise-ready solution as per their description. VeChain managed to process about 396,000 transactions on Sunday compared to Bitcoin’s 359,000. As per the best cryptocurrency news sites, the total value of VeChain transactions is less than the one transferred to bitcoin. The price of VET is currently at $0.006417 with about $11.5 million in trading volume for the past 24 hours. Smart contract platforms such as Ethereum require a small amount of the token base to execute transactions. The news is interesting since only one company was able to push the transactions of VeChain ahead of Bitcoin. You can only imagine what could happen if 20 more companies did the same. It also sparks the question of providing a scaling solution for the most valuable blockchain. The limited capacity of the BTC blockchain asks the question how big of a role will scaling solutions play down the road. VeChain processed fewer transactions than Tron and EOS on Saturday since both of the blockchain process millions of transactions daily. The demand for the VET token is generated organically when large partnerships happen. Companies are then willing to demand tokens in order to conduct their daily businesses. On the other hand, VeChain is seen as an enterprise alternative for the products but it still flies under the radar given its trading activity and price.
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