Monero is a privacy-focused cryptocurrency released in 2014.The interesting thing and most exciting about it is that uses different privacy-enhancing technologies to achieve anonymity and fungibility.
A funny fact about it is that Monero was not launched by this name in the first place but as BitMonero. A week later the team behind this digital currency has renamed it.
Monero has made several large improvements since launch. We know that the blockchain was migrated to a totally different database structure to provide greater efficiency and flexibility.
Also it is really important to mention that Monero is considered to be the most popular privacy-focused cryptocurrency on the planet.
It is true that there are over a thousand cryptocurrencies on the market but Monero is one of the more well-known names.
Unlike Bitcoin, which is pseudonymous, Monero is fully anonymous. This added layer of privacy is Monero’s USP and has likely contributed to its success in this market.If you are a beginner there is no need to understand the technicalities of how this system works to understand its value since the important thing to know is that it makes the currency 100% unlinkable and untraceable.
An important notice is that anyone who owns it has complete control over his transactions. He is responsible for his money. Because the identity is private no one will be able to see where an investor spending his money on.
Of course we need to mention that Monero has faced heavy criticism for its use in illegal activities, such as drug trades on the dark web, due to the anonymity it provides.
Monero is a secure, private, and untraceable currency.Because everyone that uses Monero automatically has privacy features applied to their transactions, Monero has a huge advantage over other cryptocurrencies whose privacy features are only optional.
In the end it seems like that for now Monero is not a bad investemtn at all and also seems to have a huge potential since the Monero mining algorithm was specifically designed such that ASICs will not have an significant advantage over ordinary computers owned by the general public.