Review on Monero by Ayu Anggraini
What i think about Monero
A person named Nicolas van Sabarhagen has written the cryptonote protocol which became the beginning of monero development in 2013. Then in April 2014 it was then developed by an anonymous developer. The purpose of creating monero is to achieve anonymity without the third party and to achieve peer to peer online transaction with a higher level of privacy. The thing most emphasized by Monero is the user's anonymity or privacy feature. Another example of CryptoNote implementation in monero is Bytecoin. And monero is a fork of bytecoin. All monero data and transactions are private, and a penalty system is entered into the monero system to prevent fraud committed by miners. Monero also has a Privacy RingCT feature, Fungibility RingCT, which makes Monero have different characteristics with other crypto because it provides a higher level of privacy. Monero has a blockchain system that does not have a block size limit unlike bitcoin or other crypto. And the difference with other crypto currencies, there is no limited amount of supply. Monero supply will always increase even though the percentage increase is smaller than before. Monero or XMR ranks among the top 16 crypto currencies in terms of total market capitalization. At the time of this review there were already about $ 74.52 million dollars traded in monero from various exchange in the world.
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Pros
- High level of security
- Faster than many other crypto currency
- Can be minted using CPU and GPU
Cons
- Xmr or Monero is Oftenly used for a dark web or illegal activity because of its anonymity
- There is no exact limit of the supply
- Its not easy to use monero for crypto beginners
