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Monero [XMR] Privacy Protection May Be Deficient

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Monero
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Monero has been a perfect example of what privacy should be like in the cryptocurrency world, in fact, the coin seemed to be completely untraceable and that was one of the features their users appreciated the most.

At the moment, and in contrast to that, everything seems to be on risk with the notice that the protocol of being implanted in the blockchain, is actually labeled now as semi-vulnerable, a tag that has made a lot of the clients very upset (and rightly so).

Apparently, due to this a great amount of the past transactions might be tracked and inspected in the search for data and information related to the operations and its operators, as well as the organisms involved. A fact that of course, is making a lot of people to be worried.

Parallel to this, a group of investigators from some of the most renowned entities like, Princeton, Boston University, MIT, Carnegie Mellon and others, gathered together in order to develop ‘mixins’, a mixed coin in a form of a bait that is created with each transaction.

The magic of the trick is revealed

Let’s recall that for Monero the term ‘mixin’ works differently than for other cryptocurrencies like Bitcoin or Dash mixin services, but basically, what it means is that new operations are mixed with others that actually got occurred before in the blockchain, and this is realized in the form the protocol itself determines.

With a simple trick, it is indeed not so difficult for an observer to identify a bait mixin created to cover a real coin spent at that moment. In this matter, Monero had established for its users the possibility of disabling the privacy protections as it was very sure of its protocol, and this allowed them to transact without actually using any mixin.

Nonetheless, the problem with this is that an identified coin which was spent already is supplanted later with a mixin, and this, of course, makes easier to steal and pinpoint the coins that remain after that.

Similarly, another deficiency identified is related to the time of transactions, which consists of a lack of capability when identifying a real coin each time a transaction is made.

Every time an operation is made in the Blockchain there is a certain group of real coins and some other fake ones reunited, and it was not until Monero’s developers applied some changes in the platform, that they could identify a 90% of the real coins involved, a fact that completely abolish the privacy provisions of Monero.

Additionally, according to the group of researchers at least a 25 percent of the XMR transactions are used in an illegal form, however, the number still reflects a great amount of activity on the platform.

Although this defects might not represent a cause for the illicit transactions automatically, it still proves that security of Monero is not looking good after all.

Regarding these facts, the Core Developer of the company stated:

“Privacy isn’t a thing you achieve; it’s a constant cat-and-mouse battle.”

According to this statement we can safely say the company is still not ready for giving up, and we should expect some measurements to be taken, in fact, he also said:

“There are steps we can take to continue to improve the sampling, but the reality is that this isn’t a solvable problem by just pecking away at it.”

Summing up, Monero has a lot of work to do now if they want to keep up increasing prices exactly as they reached recently with a rise of 4.36%, positioning their price at $195.40. Nonetheless, it all seems to conclude they can get up fastly enough.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up below!

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.

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Reasons Why 2019 May Be A Great Year For Crypto

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crypto
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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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crypto projects
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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