In this article I will tell you why monero fits my views of what a cryptocurrency should look like.
What is monero?
Monero is a decentralized cryptocurrency. It uses a public distributed ledger with privacy-enhancing technologies that obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories.
Monero works like any other currency but with some privacy and decentralization innovations.
Monero uses stealth addresses. Alongside with ring signatures and ring ct’s to “hide” the transaction and transaction amounts. To enhance transaction privacy. In order to decentralize the network further monero uses the RandomX algorithm in order to further by discouraging use of asics.
The main problems with bitcoin and other cryptos
Bitcoin may seem like a perfect currency. However under the hood bitcoin has many flaws.
One of the main problems with bitcoin is that it isn't actually censorship resistant. A central bank or government can blacklist your address and block exchanges from accepting it. While there are ways to get around that it isn't easy. Monero on the…
