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Monero (XMR) Provides an Alternative to Advertising

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Monero
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Cryptocurrencies have many goals, but most have at least a passing desire for anonymity and privacy. While others may pay passing lip service to this vision, Monero embraced it. Chief among the privacy coins, Monero is a gateway to the ‘dark web’. The complete inability to trace transactions within the blockchain makes it the coin of choice for illicit trades. While this may cause negative perceptions of the coin, it does have another effect. If the privacy is that strong, it means Monero has succeeded at their stated goal. While viewing the transactions from a specific wallet is possible, it requires active consent and a specific viewing key.

Privacy Above All Else

Monero is a completely unique blockchain – built from the ground up for privacy and security. It uses a ring signature system that sends transactions through a group of users. Stealth addresses generate for each transaction and do not necessarily require the send and receiver to know each other. So long as they have the one-time use address, they can be certain that the XMR will reach the proper location.

Furthering this entire process, single units of Monero are not identifiable. Blockchain forensics solve some of the more difficult court cases involved in money laundering. Law enforcement has been able to follow the trail of specific coins to determine who paid which amount and to where. Coins that are positively identified as involved with criminal activities can be blacklisted. Monero’s complete anonymity of coins makes this an impossibility, with the added benefit of creating a fungible currency.

MicroMining

The length of the Bitcoin blockchain is becoming a problem. As more people mine Bitcoin, more transactions occur and it requires a greater amount of computational power. This includes new block generation through the difficulty algorithm. While mining was relatively easy in the early days, it now requires a dedicated setup. The electricity alone is becoming an issue for entire communities. Most new Bitcoin blocks are created by massive mining farms that exist solely to produce the cryptocurrency.

Monero sought to avoid this issue and created a specifically ASIC resistant algorithm. This makes dedicated mining rigs inefficient for the Monero blockchain. In turn, it has become the currency of choice for web applications. Small-scale mining software can be embedded to perform computations in lieu of advertising. Unfortunately, it also means that malware can leverage the Monero blockchain to earn money from infected computers. Still, this has not prevented mainstream businesses from recognizing the long-term potential.

High Profile Adoptions

The ability to mine Monero through web applications has one major adopter – Salon. The news site has struggled against adblocking software in recent years. They have decided to experiment using Coinhive’s Monero mining software as a replacement for advertising. They are understandably being very upfront about the process – it’s opt-in and only intended for users that make the choice consciously.

This is an important distinction and could open the path for other high profile sites to use the same process. Furthermore, non-profit sites like Wikipedia could theoretically embed the Coinhive software – and no longer require donation drives. However, it’s critical for Monero to establish itself as the ad-alternative, and not the coin of choice for malware.

Impervious to the Cryptocrash

The end of 2017 was a banner time for cryptocurrency – a huge spike of new investors lifted the price of almost every coin available. The top cryptocurrencies hit all-time highs and major news media began covering the crypto-sphere regularly. This all ended in January with the sudden crash of the miniature bubble burst soured new investors and resulted in a fairly stagnant start to the new year.

Monero did not have this problem. Their value against BTC has grown steadily since mid-2016. Although volatile, it has been in a continuous uptrend since November of last year. This is completely unmatched by other currencies. In fact, Monero only hit their all-time high BTC value in March. This is a strong indicator of investor confidence and suggests that Monero should do very well in the days to come.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Christina Saint Marche via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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