Why Monero
https://www.cypherowl.com/why-monero-privacy-focused-cryptocurrency/
Main Features
Monero has many interesting features and I will try to outline some of them below:
Privacy by Default
All transactions are confidential by default, users are not required to "enable" privacy features as in case of Zcash.
Stealth Addresses
Wallet address is not displayed in a public blockchain, therefore there are no "rich lists" and nobody can learn about your spending or assets.
Confidential Transaction Amounts
Monero makes it impossible for someone wants to trace you by analyzing amounts of the transactions, by encrypting the figures.
No Traces
Monero utilizes ring signature technology, facilitated with the need of trusted setup, to help the sender mask the origin of a transaction by ensuring that all inputs are indistinguishable from each other.
Dynamic Block Size
Transactions are not limited with a cap, allowing a quick processing.
Voluntary Audits
Dual key system allow desired users and/or machines to observe transactions.
Kovri
Being developed by Monero - Kovri is based on I2P’s open specifications, uses both garlic encryption and garlic routing to create a private, protected overlay-network across the internet. This overlay-network provides users with the ability to effectively hide their geographical location and internet IP address.
Research Lab
Leading researchers and scientists are participating into the project aiming to explore new possibilities for privacy and security.
Fungibility
ELI5 - What does the fungibility stand for?:
Example 1: In case of other coins, if John Doe makes a coin by illegal activities (cyber attacks, selling/buying drugs and etc.) authorities might demand from exchanges and markets to block/freeze any assets or transactions from a specific address. This means that if you would receive a coin from John Doe, your transactions and address might also be affected, because it is linked to illegal activities. In case of Monero this is impossible, because no one can know where the coins came from.
Example 2: You have been HODLing 10 XMR for couple of years and out of the blue your country makes Monero trading illegal. In theory you should not be able to trade those coins anywhere in your country or outside, because government will issue requests to exchanges and markets. But the thing is that no one knows where the coins come from (country, IP, activities) therefore this theory cannot be enforced in practice.
Fungibility guarantees that if you have 10 XMR it will always keep the ratio of 10 XMR= 10 XMR no matter who you are, where you are, or what you are doing.
https://www.cypherowl.com/why-monero-privacy-focused-cryptocurrency/
Main Features
Monero has many interesting features and I will try to outline some of them below:
Privacy by Default
All transactions are confidential by default, users are not required to "enable" privacy features as in case of Zcash.
Stealth Addresses
Wallet address is not displayed in a public blockchain, therefore there are no "rich lists" and nobody can learn about your spending or assets.
Confidential Transaction Amounts
Monero makes it impossible for someone wants to trace you by analyzing amounts of the transactions, by encrypting the figures.
No Traces
Monero utilizes ring signature technology, facilitated with the need of trusted setup, to help the sender mask the origin of a transaction by ensuring that all inputs are indistinguishable from each other.
Dynamic Block Size
Transactions are not limited with a cap, allowing a quick processing.
Voluntary Audits
Dual key system allow desired users and/or machines to observe transactions.
Kovri
Being developed by Monero - Kovri is based on I2P’s open specifications, uses both garlic encryption and garlic routing to create a private, protected overlay-network across the internet. This overlay-network provides users with the ability to effectively hide their geographical location and internet IP address.
Research Lab
Leading researchers and scientists are participating into the project aiming to explore new possibilities for privacy and security.
Fungibility
ELI5 - What does the fungibility stand for?:
Example 1: In case of other coins, if John Doe makes a coin by illegal activities (cyber attacks, selling/buying drugs and etc.) authorities might demand from exchanges and markets to block/freeze any assets or transactions from a specific address. This means that if you would receive a coin from John Doe, your transactions and address might also be affected, because it is linked to illegal activities. In case of Monero this is impossible, because no one can know where the coins came from.
Example 2: You have been HODLing 10 XMR for couple of years and out of the blue your country makes Monero trading illegal. In theory you should not be able to trade those coins anywhere in your country or outside, because government will issue requests to exchanges and markets. But the thing is that no one knows where the coins come from (country, IP, activities) therefore this theory cannot be enforced in practice.
Fungibility guarantees that if you have 10 XMR it will always keep the ratio of 10 XMR= 10 XMR no matter who you are, where you are, or what you are doing.
https://www.cypherowl.com/why-monero-privacy-focused-cryptocurrency/
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