Review on Monero by Jerry Siegel

Name: Monero
Item: Monero
Rating: 4

June 08, 2020

Monero (XMR)

Monero is one of the top altcoins, that been around for a while. Their main distinctive feature is the privacy of transactions. XMR gives you freeedom to transfer funds completely anonymously, without the possibility of anyone tracking you down.
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Usually, in transparent blockchains (like BTC and ETH) everyone can see the transaction hash that contains your address and address of the recipient, as well as the amount of the transferred funds. In Monero blockchain nobody can see anything, transaction hash only exists to include the transaction in the blockchain, without any additional info. 
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I'm not going to explain everything about the CryptoNight algorithm. As an author, here on Revain, I don't want my reviews to be boring and techy, I want them to be more understandable and fun. So if you're interested about CryptoNight you can look it up on the web, there's plenty information.
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Monero has contorversial reputation, and mostly considered as "crypto for criminals". XMR is widely used in the darknet to purchase drugs, guns and so on. XMR is also very popular option among cryptojackers (illicit mining malware installed on computers). I've heard that nearly 4% of all Monero supply was mined using malware...
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I can't say that Bitcoin hasn't been suffering from the very same reputation, and you can imagine what comes across the mind of people, when they hear "more private crypto than Bitcoin 😎". Monero developers has been defending their crypto against allegations of criminal use, but I think it's only for a show... It's also interesting that authorities around the world cannot stop it, cause there's no central entity that they can legally pursue. Monero is governed by hundreds of developers around the world and supported by credulous "blind miners" that has no idea they've been mining XMR. 
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So I guess it's only a matter of perspective. Some say that Monero benefits from criminal activity, some say that it provides the level of privacy that is so vital in our internet reality, like cash money, but only on the web.
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