This article is part of our series “Why EOS, Stellar, IOTA, Waltonchain, Binance, Litecoin, NEO & Monero will survive the Altcoin Apocalypse”. Every day at this point a new analysis to one of the o.g. Cryptocurrencies published.
Monero (XMR) is a cryptocurrency focused on privacy, portability and decentralization. Monero was created in 2014 and has already survived the bear market of 2014/2015.
Monero will also survive the current bear market, as the need for private transactions is unlikely ever to disappear. Unlike the nonsense that is often disseminated in the traditional media, there is more scope than “drug purchases on the Internet”. In truth, anonymous transactions protect portability and freedom of expression.
Some organizations are thinking about putting certain Altcoins on a blacklist. This is true of cryptocurrencies currently being held by someone whom an authority considers “evil”. This affects the portability of Bitcoin, negatively affecting the network as a whole. Imagine that the Coinbase Crypto Exchange was collecting your Bitcoin assets on the grounds that someone used exactly that Bitcoin four years ago for a transaction on the Silk Road underground market.
Without the possibility of “voting with one's own money”, ie expressing one's opinion on payments, the current forms of democracy are likely to erode. What happens when citizens can no longer support a desired political party? Or donate to them, without risking jail or imprisonment?
What about the other Privacy Coins? There is strong evidence that several of these coins will survive the bear market. After Monero, Zcash (ZEC) and Dash (DASH) are likely to have the best prospects.
Zcash is already listed on the Gemini crypto exchange and Coinbase has indicated that they are considering a listing. In addition Zcash convinces with the strongest cryptography and technology for the protection of the privacy. So there is a high probability that Zcash will continue to exist. Nevertheless, Zcash seems more like a research project than a consumer-oriented privacy coin. Secret transactions are currently optional with Zcash, which causes the minority using secret transactions to be particularly noticeable.
Dash is less privacy-oriented than Zcash. Dash has a long history and a strong community. In addition, the project enjoys a solid funding model that supports the further development and expansion of the community.
All in all, it can be said that Monero can look back on the longest history among the privacy coins and the technology of the Blockchain has proven to be very robust. This should speak for a positive outlook.
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/monero-xmr-prognosis-and-analysis/
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