Monero Could Be The Coin That Satoshi Visualized Due To Its Privacy-Related Features
Nakamoto Satoshi is the Bitcoin inventor, and he would be (or is) impressed with the concept that Monero brought to the crypto space.
The reason is that the token comes exceptionally close to the whole concept behind Bitcoin.
Satoshi envisioned maximum safety and security
Satoshi envisioned a world in which financial transactions would be anonymous and safe, and this is entirely different from what most pioneer coins such as Bitcoin, Ethereum, and Litecoin have become.
These coins are at best pseudonymous mainly because developers want to comply with regulations of existing authorities which is against Satoshi’s dream.
Banks and more financial institutions are usually sharing personal data with the other banks, regulators and state authorities without having the consent of their customers.
Satoshi wanted a platform in which value can be transferred safely and securely while at the same time anonymously unlike how most cryptos work today.
Monero has been able to restore this kind of confidentiality in the coin usage as long as the users don’t link their identities to the public keys.
This is the main feature that makes Monero unique and which has made regulators in various countries skeptical about it, believing that the untraceable transactions could trigger some undesirable results and practices.
This privacy and security features make Monero a fantastic coin among digital currencies.
With the coin market being in such a bearish condition, some analysts say that it could be the end of the road for this nascent industry, but we believe that this is completely unlikely.
But if we were to consider such a horrible scenario, Monero would be among the few coins which would be able to survive a crypto apocalypse due to its strong leaning on privacy and security. These features will always be demanded by users, no matter what.
Monero (XMR) is a cryptocurrency that’s focused on privacy, fungibility, and decentralization. The token was created back in 2014, and this means that it managed to survive the enormous 2014-2015 bear market.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.