Does Reducing Bitcoin Decentralization Help Monero?

Does Reducing Bitcoin Decentralization Help Monero?


The bitcoin is perhaps the king of all parts of crypto, but for confidentiality,   Monero   is honored.

 

 

Seth Simmons of the Monero community in a recent podcast talked about the unique values ​​that differentiate Monero from Bitcoin and also shared his thoughts on how Bitcoin's inability to iterate and implement new features caused a lot to go from BTC in Monero . Noting further that Monero is important for space not only in terms of privacy, he said:

"For me, Monero is really Bitcoin with many technical problems resolved, and a community that has been ready to quickly go through many progressions. There have been many technological advances, and just a lot of governance changes that have had to occur throughout to ensure that the things that happen when they happen to have need. "

Getting back to how   Monero   revived the philosophy of the Bitcoin ecosystem , Simons highlighted recent actions by the Fed and central bank digital currencies [CBDC] and noted how crucial Monero was to the ecosystem. In his view, Monero is a better tool than any other cryptocurrency for "disabling centralization" today.

Additionally, Lightning Network [LN] was supposed to help Bitcoin with its scalability, privacy and many other shortcomings, but as we can see, LN has been running for years now. Another factor that has caused many to change trains is the inability of the top coin to iterate and implement new features in its network; Monero's tail mission   , the price of the dynamic block and even the default privacy are controversial in Bitcoin .

   

 

On the other hand, the creator of  Litecoin  , Charlie Lee, had recently expressed the opinion that although there may be a delay in the implementation of privacy-enhancing technologies like Taproot / Schnorr on Bitcoin , updating From Ethereum to PoS and MimbleWimble from Litecoin   , they all seemed very promising and added that they could become a threat to Monero and other privacy pieces in the future. Lee said:

"Privacy pieces like Monero , Zcash and Dash have great privacy, but they don't change at all, do they?" The size of the blocks becomes enormous. The transactions are huge. “

To put things in perspective, implementing techniques to improve privacy on Bitcoin and altcoins could take a long time to get implemented. So, for the moment, Monero continues to run the space in terms of privacy, and this is something very crucial given the centralization of the world at the moment.

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