Monero (XMR)’s Privacy May Trigger Increased Pressure To Address The Status Of Privacy-Oriented Digital Assets
Monero (XMR) is the most popular privacy-oriented coin out there these days, and according to the latest data, its popularity seems to be increasing at a rapid pace.
Back in January, we were reporting that XMR is currently one of the top 8 coins by daily views on Wikipedia, said DataLight, a crypto data analytics platform.
It seems that during the timeframe of December 24, 2018, and January 24, 2019, Monero managed to be ranked as the sixth most viewed coin on Wikipedia.
People’s interest in XMR and other privacy-oriented coins is on the rise.
XMR has been making headlines lately mostly after the hardfork which updated its privacy features and had other effects as well.
We recently reported that Binance Research posted a research article titled, ‘Examining the Implications Behind Monero’s Latest Fork’ that focuses on the effects of the updates introduced on Monero during the recent hardfork.
XMR’s hardfork was advanced
It was reported that the hardfork was supposed to take place in the next few months, but it has been advanced due to the dominance of ASIC miners on the Monero network.
The great thing is that following the hardfork, the dominance dropped by about 80%, as reported by data coming from 2miners.
Binance Research’s report said that the addition of dummy encrypted payment ID, “made it harder” to discover the origins and destination of a transaction.
The report stated that “As several countries (e.g., France) and individual US states (e.g., Texas) are discussing whether or not privacy coins should be banned, this additional privacy feature may lead to higher pressure on countries to create legislature to directly address the status of privacy coins.”
The report also said that “Regarding the improvement in the countermeasure to prevent a “big bang attack,” the initial issue was that the size of the block could increase exponentially.”
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.