Monero privacy is often touted as the best in the industry. Ever since its launch, Monero has been pretty vocal about protecting its user’s privacy. Monero’s lead maintainer, Riccardo Spagni, says that ‘Privacy is a basic human right’. Monero is also actively involved in the privacy education related to the cryptocurrencies.
Monero has always ensured that privacy remains at the core of its operations. The entire Monero community is well known to support every initiative relating to privacy regardless of the cryptocurrency in question. It is perhaps the only community that actively pursues absolute privacy while still complying with the industry’s AML/KYC guidelines. Every aspect of the including fungibility, privacy or security is built on the premise of user’s privacy. That’s a tall order in today’s crypto realm.
How Monero manages financial independence with user privacy
Cryptocurrencies represent financial independence and privacy simultaneously. People don’t realise how much user information is shared and exploited every day. Privacy coins bring in an iota of protection along with the usual cash advantages.
But exactly how must privacy does anyone need? Privacy goes hand in hand with compliance and regulations. And both are an ongoing process. Users should not believe that the current privacy setup is enough for the future. The system must be constantly evaluated and made robust to create the much-needed solace a user demands. As such, Monero privacy has evolved to implement and safeguard user privacy at the highest level. It is often voted as the most privacy-focused cryptocurrency available today.
What happens when Monero privacy collides with ASIC mining
Monero privacy and ASIC mining don’t gel well. Both are different concepts and thus view privacy in a different context. Monero opposes the centralisation efforts of the cryptocurrency mining network. Earlier, developers tweaked the network twice a year. This was…