Monero (XMR) Reportedly Becomes One Of The Least Used Privacy Coins On Darknet

Monero was recently in the spotlight regarding the darknet various times, and this triggered more scrutiny.

Cedric Dahl, CEO of 1000x, has been recently featured on the latest edition of the What Bitcoin Did podcast, according to the most recent reports coming from the online publication AMBCrypto.

Bitcoin’s initial adoption drive

He talked about Bitcoin’s initial adoption drive and its position as a market neutralizer. Dahl pointed out the coin’s most elemental advantage:

“It’s never going to be faster. You’re never gonna solve as many problems with a distributed system as you will with a centralized system. It’s only censorship resistance.”

Monero, expected to be widely accepted on the darknet

He said that he would have expected Monero to be widely accepted in the darknet, and this is because of Monero’s privacy features and the fact that this is a decentralized and untraceable ecosystem.

As other darknet markets also showed a similar trend which seems to have been dominated by Bitcoin, Dahl stated the following:

“You would expect privacy coins to be dominating the space. But, Monero, in almost every case, is the last place coin used on these (dark) markets. And there are almost no other privacy coins used at all.”

Anyway, we recommend that you check out the original article and the podcast above in order to find out more details.

Monero in the news

Monero recently made headlines when it’s been highlighted that the final countdown before the Monero hard fork began.

It’s been reported that the version of the clients’ software (CLI) that is required to participate in the updated consensus has been released, according to the latest data coming from UToday online publication.

Interesting details regarding the hard fork have been released.

Other than this, Monero‘s popularity has been on the rise and the privacy-oriented coin becomes an option for investment for more and more crypto enthusiasts.


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CoinMarketCap

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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