The rise of Monero

The rise of Monero

This is the price chart of Monero.


When did quarantine start again?


Okay, so, like bitcoin, it has risen. I have already explained why Cryptocurrencies have risen during this time (in ), so instead let's take a look at the differences between Bitcoin and Monero and whether these differences could make a drastic change to its price.

Firstly, the ring signatures. instead of just one signature like Bitcoin does, Monero has multiple signatures that allow it to have a higher level of anonymity. Therefore, it has higher privacy and nobody can see your transactions or the amount you have.

It also has more distribution, with 77% of it's hashrate coming from unknown pools compared to 9% of bitcoin's hashrate coming from unknown pools.

So, Monero is bitcoin but focused on privacy. Nothing that could cause a big problem there.

Thanks for reading.

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The rise of cryptocurrencies during COVID-19
The rise of cryptocurrencies during COVID-19

To document the reasons and predict the future of the rise of cryptocurrencies during the COVID-19 quarantine.

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