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Monero (XMR) claims to be solid money in safe mode with a different equation for cryptocurrency

Dr. Daniel Kim provides a comprehensive overview of Monero and Bitcoin as well as projected facts in the larger context of the gold and fiat currencies in the 2020 financial crisis. He talked about various things like the pandemic economy, independent scarcity with decentralization and bitcoin, and independent scarcity and Monero.

Investors must state that Monero is what Bitcoin buyers believed they were buying. In reality, Monero’s properties make for more rational economics when compared to Bitcoin or Gold.

The scarcity features of Monero make it clear again that Monero is not Bitcoin’s code fork. When assessing whether Monero is worth considering, it is important to keep in mind that Monero is not Bitcoin’s code fork.

Given that Bitcoin was the first cryptocurrency to appear in the cryptocurrency space, the Bitcoin code was simply copied and trivial and, in some cases, significantly changed. It was then published and referred to as its own cryptocurrency.

Dr. Daniel Kim explained that one criterion that can be used to reduce the subset of cryptocurrencies is worth considering if it is just a bitcoin fork. It is important to know how much original and intellectual effort has gone into creating this other cryptocurrency.

Monero has its own code base. It must also be stated that a completely different elliptic curve than Bitcoin is used. Monero uses ed25519, which is the x, y points on the giant sheet of paper, which are fundamental to how the cryptocurrency works. This equation is different in Monero from that in Bitcoin. To the extent that the elliptical curve used in Bitcoin may or may not have weaknesses – this is a form of technical protection where Monero has deliberately chosen a different elliptical curve.

Monero opt-in transparency

Monero has two private keys, the spend key and the view key. The spending key works like the Bitcoin private key. Those who know the spending key are in complete control of their account. The view key is a cryptographic subset of the spend key. Those who know the view key can see the details of the transactions made so far.

The biggest misconception about Monero is that it is a completely secret box, so you cannot say anything about what is going on in it. You can actually share details about what is actually going on in your particular Monero account when you share your view key. It offers opt-in transparency.


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