Review on Monero by Othere Obtentus
Privacy and anonymity
Monero already has a spot as one of the key digital currencies for users seeking privacy. With its debut in 2014, it has slowly but gradually advanced to becoming among of the leading cryptocurrencies. Its creators and community is centered on improving Monero's code to ensure a high degree of anonymity. Monero has a strong credibility for dependability. The blockchain of Bitcoin and several other cryptocurrencies are standard 'public ledgers' that fail to provide total anonymity.
Monero uses sophisticated cryptographic mechanisms to guarantee that not anyone can connect users to a Monero cryptocurrency transaction. Intriguingly, this technique allows the Monero network to transmit and retrieve transfers in a way that does not disclose data explicitly to audiences. Fungibility is coming a leap forward in Monero. There is no way to tracethe Monero that was in the transaction. There are no identification numbers and all transfers receive diligent anonymization. For this regard, Monero offers the user a higher degree of anonymity that was previously impossible.
Pros
- Absolute Fungibility
- Dynamic Scalability
- Unparalleled user secrecy
- Advanced Cryptography
- CryptoNight
Cons
- The additional complexity makes it diffcult to adopt
- Not completely decentralized
