King of privacy: Monero (XMR)

King of privacy: Monero (XMR)


Monero is one of the first privacy coins and the largest at this the moment. He is considered the King of all privacy coins. It is suspected that this cryptocurrency is already widely used in the criminal circuit. In that respect, anonymous coins are seen as the ideal replacement for cash, which was previously widely used to make anonymous payments.
 
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Monero uses the consensus algorithm Proof of Work and implements techniques such as: Ring signatures, Stealth addresses and Ring confidential Transactions (RT). These techniques ensure that the details of a transaction cannot be seen by anyone. Outsiders cannot see how much XMR has been spent nor who has received this XMR. When someone pays with Monero, this transaction is time stamped with a "ring signature". This signature is then verified by means of a group of public keys, which prevents the private key from ever being made known. As a result, transactions can never be linked to a specific user. Monero's technology is still considered the best technology at the moment when it comes to privacy coins. However, privacy is built into Monero in such a way that it is not possible to make a "normal" transaction.
The Monero (XMR) token has at this moment a price of $ 65,88 dollar. At his peek the tokenprice was approximately $ 460 dollars. I think Monero is underpriced and has room to grow. Especially being the King of Privacy. Look into it, do your own research and do not invest more than you can afford to lose. 

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EdwinK
EdwinK

Crypto enthusiast, general manager


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Cryptocurrencies? (Part 1)

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