The Market Relishes Monero’s(XMR) Privacy Features

By Raghav Sawhney

The world is changing fast and an age of digitalization is engulfing us faster than we know. Cryptocurrency has suddenly become the next big thing in the market. A lot of platforms are providing transactions in Cryptocurrency and so is Monero {XMR}. The primary reason for its popularity is the fact that it uses less power and generates less heat compared to other cryptocurrencies, apart from ensuring complete user privacy.

Monero offers privacy when it comes to transactions. Since it is an openly sourced cryptocurrency, it has made decentralization and privacy its primary concerns. The Monero mining rig has a more lasting lifetime when compared alongside some other cryptocurrencies. Also, the Monero/CryptoNight mining operations are much lower than mining for other cryptocurrencies using different algorithms.

Monero skyrocketed in the market in terms of its value. In 2014, the price of Monero [XMR] was under $1 but at the moment it is somewhere around $250. Within a span of 4 years, the price has risen insanely high. It enjoys an ever-growing popularity in the market and has a market cap of around $3 billion.

Monero came into existence in April 2014 and it has since been gaining increasing user base. It can run on Windows, macOS, Linux, Android, iOS, and FreeBSD. It has recently also been active on the African Market.

Keeping in line with their strict emphasis on privacy, Monero [XMR] is using ring signatures, ring confidential transactions, and stealth addresses. What they aim to do is make the origins, amounts, numbers and source destinations of all the transactions of the trade untraceable and illegible. On one hand, it is offering the users benefits that come with the decentralized cryptocurrency, on the other hand, it is also assuring privacy to its users.

As mentioned before, the transactions made on the Monero blockchain technology are untraceable and cannot be linked to any user, thereby ensuring their information stays safe. The users are saying that Monero is here to stay.