Review on Monero by onur bln

Name: Monero
Item: Monero
Rating: 3

October 16, 2020

MONERO

One of the biggest problems of bitcoin is the increasing centralization of mining. The reason for this is that the bitcoin mining algorithm works much faster on mining chips called asic, the prices of these chips are 10 times higher than a normal graphics card, which shifts mining completely to profit-making companies, this will be a big problem in the future because the biggest advantage of all crypto currencies is distributed . monero's mining algorithm breaks this, which gives us the guarantee that it will always remain distributed.

Another problem of bitcoin is the block size limit (see: bitcoin cash), monero's block limit is designed to adapt to the network size. While bitcoin can generate a new block every 10 minutes, this time will remain as 2 minutes and almost always 2 minutes in monero.

The last known problem of bitcoin is privacy. bitcoin is an extremely transparent network, and monero has solved this with ring ct.

If satoshi nakamoto is alive today, he's probably investing in monero. *

how can you get monero?

If you are going to invest in small amounts (0-20 btc), you can convert bitcoins to monero with shapeshift, but you need to install monero on your computer and create a wallet.

If you are going to invest large amounts (20-100 btc), kraken is very useful and the approval time is fine, but still don't keep all your monero in kraken In any case, you should have a monero wallet on your computer.

If you are a whale (100-1000 btc) you can get corporate account from kraken, it took me a day, but there is a lot of document work, but once you do, all the altcoins are at your disposal and you do not have the limit.
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Pros

An untraceable digital currency with a more advanced technology than bitcoin, where the sender and receiver are kept secret.
Altcoin, which I think has a bright future as it promises more privacy than bitcoin

Cons