Review on Monero by dance islamet

Name: Monero
Item: Monero
Rating: 4

December 07, 2018

I have full control of my transaction. I am responsible for my own money…

I have full control of my transaction. I am responsible for my own money. Because my identity is private, no one can find out why I use my money. Other properties owned by Monero because of its privacy, Monero is replaceable (fungible). The definition of Investopedia is:
Let's look at Bitcoin as an example. Bitcoin prides itself as an open ledger and an open book. But that also means that everyone can see transactions in it, and more importantly, everyone can see the traces of these transactions. This basically means that for example you have a bitcoin that has been used in illegal transactions, such as buying drugs, this will forever be recorded in the details of the bitcoin transaction. So, the bitcoin you have will be tarnished.
On some exchange platforms or bitcoin service providers, this tarnished bitcoin will be priced lower than net bitcoin. This kills the fungibility property and is one of the most criticized properties of Bitcoin itself. Because the question is why do you have to be difficult because of illegal transactions carried out by other people?
This is why the Monero Blockchain is present. Because all Monero data and transactions are private, no one can know what Monero transactions you have passed before and for what transactions Monero is used. Because there is no transaction history, it means there is no trace of the transaction either. Therefore, there is no Monero concept that is tarnished and pure, which makes Monero fungible.
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Pros

Electronic form Decentralized Private Different from other crypto currencies such as Bitcoin, Ethereum, and others that only have one public key and one private key, Monero has several keys for one address. In the Monero system, the key consists of a view key and spend key, where each has its private and public key.

Cons

The Monero Blockchain is not entirely ASIC Resistant, except that making the ASICs for Monero will cost a very high amount so that it will not be comparable to the results. This is because the CryptoNote system is used by Monero itself. The hashing algorithm that CryptoNote uses is based on the "CryptoNight" system. Crypto currencies that use the Cryptonight system will not be mined, in the hope of preventing mining pools and making crypto currencies more evenly distributed.