Monero 2019: Privacy feature hinders adoption, coin’s ASIC resistance makes headway

“Privacy is not something that I’m merely entitled to, it’s an absolute prerequisite” ~ Marlon Brando

Privacy in itself is a spectrum; the meaning differs from one person to another. There are people who are absolutely fine with being completely surveilled on, there are people who are okay with partial surveillance, and there are also people who are completely against surveillance of any kind. Take “Keeping up with the Kardashians”, Snapchat and Insta as an example: Reality TV andsocial media have merged the lines between privacy and reality! And then there’s China- where the government knows everything from your last purchase to your browsing history.

“Always eyes watching you and the voice enveloping you. Asleep or awake, indoors or out of doors, in the bath or bed—no escape. Nothing was your own except the few cubic centimeters in your skull.”-1984, George Orwell

Now, when I think about privacy and connect it to the cryptocurrency space, the first thing that pops up in my mind is Riccardo Spagni, former lead maintainer of Monero, going ‘Privacy is a basic human right.’

When it comes to cryptocurrencies that are privacy-oriented, there are several in the market, but the most frequently touted one is undoubtedly Monero. This cryptocurrency is in not only educating users about the need for financial privacy but also paving the path one can take to ensure that their financial information stays with them and them alone.

Sticking by the prime narrative:

While the Bitcoin community has been indecisive about what it represents [Is it a peer-to-peer electronic cash system? or Is it a store of value/ digital gold?], Monero community has always sure about its raison d’etre- a digital currency that has privacy at its core and has not deviated from this path.

Most network upgrades have been focused on making Monero more private, while also ensuring that it was KYC/ AML compliant. The cryptocurrency stands on top of four main…

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