Monero

I think Monero owns the market on privacy focused cryptocurrencies. I spent some time talking with their community and reading their documentation. Their use of ring signatures (among other technologies) has made it truly impossible to be able to track funds inside their ecosystem.

While most people assume this is for nefarious purposes, Monero serves a far greater purpose in being one of the only cryptocurrencies to be truly fungible. Fungibility is the idea that one ‘thing’ (in this case, a token) is treated equally in the system. Diamonds are not very fungible (each diamond is unique) while cans of compressed air are incredibly fungible (so long as it works).

Believe it or not, Bitcoin is not very fungible. While it may seem that 1 BTC is 1 BTC, the truth is we have the record of how every part of that transaction happened to end up in one wallet or another. So, if you just happened to get a UTXO that happened to get to be associated with your address, people can take actions on it, like blacklisting your account on exchanges.

If I have a dollar in my wallet, it doesn’t matter if it’s two years ago, someone stole that money from a vending machine and it ended back in circulation. $100 is $100, and the only coin that supports this idea fully is Monero.

While I don’t know where the cryptocurrency will end up, I do believe Monero is solving some very important problems.

I think privacy has to be respected, and has to be a personal choice. As like no one knows your bank account balance, or your transactions, right? Privacy does not mean doing, or being able to do something illegal, but it may not be any ones business what a person or a company transacts. And Monero has built up around privacy, as one of the first ones. They did a great job. I really like i't for various reasons, also to the fact that they try to keep it asic resistant, whereby they are also successful. So a great coin for mining. Overall, definitely Monero a big name by now.

#NotAFullReviewJustSomeThoughts