Review on Monero by Danh Huỳnh Ngọc Công
Monero is a great privacy coin which makes a transaction private and only…
Monero is a great privacy coin which makes a transaction private and only transparent when allowed. Transaction speed is much lower as block size can be changed. However, there are a lot of privacy coins on the market with better algorithms. The transaction fees are very high and that is not profitable to users. Mining is centralized due to the control of a few pools
Updated 5 years ago
Rating has not been changed
Positive point: The team behind this project is transparent about its source code. The community can do auditing and reviewing on the project anytime they want. Recently, some members of the community discovered a security breach and got rewarded
Pros
- - Best privacy coin - The information of transactions is hidden away - Great permissioned network. Transactions still can be audited if needed - Block size can be increased if needed. No issue on scalability
Cons
- - No voting progression for system changes - Many popular competitors - High transaction fees - Mining is centralized
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Comments (1)
October 02, 2019
Monero has high transaction fees and I agree with this remark but people paid for anonymous transactions more than if they work with eth, btc. But you every time can choose what you want. Complete anonymity or low transaction fees.
