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FORUM » Cryptocurrencies » Altcoin Discussion » Is Monero the Future of Privacy-Focused Cryptocurrency?
Is Monero the Future of Privacy-Focused Cryptocurrency?
officeDate: Monday, 2016-12-05, 0:12 AM | Message # 1
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What do you guys think of Monero (XMR)? Is it a better version of BTC? Because XMR isn't based on BTC's code and uses the famous ring signatures of CryptoNote, many have jumped the Monero bandwagon including the Darknet. Many of us know about the flaws that the BTC code has in terms of anonymity and traceability and Monero's code seemed to have solved most of the problems.

With Monero, te sender's identity is masked in two ways:
- mixing the outputs NOT the transactions (basically if you want to send 123.5 XMR, the transaction will be broken down to 100 + 20 + 3 + .5 and a ring signature will be performed with other 100s, 20s, 3s and .5s for top-notch untraceability).
- one time keys that make the transactions unlinkable in any way (when you receive a XMR payment, it will go to an unlinkable address generated with random numbers. When you spend the funds, the amount will be broken down into pieces like the example above; basically anonymity at the next level).

In other words, BETTER than any other privacy-based crypto up to date. But can Monero truly stand out and become a worthy BTC competitor?
 
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