Monero (XMR) Just Celebrated Its 5th Birthday – The Privacy-Oriented Coin Has Come A Long Way
Monero (XMR), the most popular and important privacy-oriented coin has just hit its half-decade mark.
On April 18, XMR celebrated its fifth birthday, and the same day, back in 2014, the project’s genesis block has been mined.
The privacy crypto advanced a lot during this time, and it has definitely managed to change the crypto industry.
With its popularity and technical prowess, it became a respected coin despite the fact that it has also been making headlines in relationship to hacks and the dark web.
It’s true that a lot of bad actors have been using XMR for various not so great moves, but overall the coin is perfect for people who are looking for privacy and anonymity regarding transactions and more.
As Bitcoinexchangeguide says, there are a few notable features that Monero flaunts and that distinguish the coin from other privacy-oriented currencies such as Zcash.
For instance, XMR leverages ring signatures, and another essential quality is the fungibility of the platform.
Monero’s classification, XMR Vs. BTC
He addressed the issue of whether XMR can be classed as a security and his conclusion is that it can not be classed like that under any circumstance.
He has reportedly just said that people who are arguing that Bitcoin is the only crypto that will survive in the long term are not actually realizing that this goes “against human nature.”
Spagni also made sure to highlight the fact that the privacy-oriented coin would definitely co-exist with BTC in the future.
He said that people who are looking for a boosted level of privacy would definitely go for XMR for some of the transactions if they had to choose between the two digital assets.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.