For all of you who are new to the cryptospace, this is really a must read. In the past we have seen the Monero versus Dash debates but most of them were from trolls who wanted to confuse everyone. The most confused of all were the newbies. I too was a victim of this. I did not know which cryptocoin to invest on so I decided not to hold both because I thought the two of them were scams. Now they are worth a lot and I have missed the opportunity to invest in them when they were worth under a dollar.
I wish there were articles like these from reputable sources in the past.
Monero is a one of a kind cryptocurrency launched in April 2014. Its primary focus is to be the ultimate, open source cryptocurrency. The developers of this cryptocurrency were focused on reliability and ease of use when releasing Monero. And the currency does have quite a lot to benefit from that. What you will want to note about Monero is that the currency is known to leverage stealth addresses and ring signatures in order to hide the recipient and sender identity. Since a lot of people want to secure their transactions privately, using Monero can be right up their alley.
Monero ring signatures (ringCT).
The interesting thing about the ring signatures is that they combine a mix of user account keys and public keys. These keys are acquired via the Monero blockchain, and they can easily create a multitude of signers. As a result, anyone that comes from the outside will not be able to identify the sending user. When you use cryptocurrencies for privacy, you will find that the experience on its own can be quite impressive and downright rewarding all the time. Using this concept is not something new, but it is one of the best methods you can access if you want to stay safe online.
What makes Monero different?
Most cryptocurrencies tend to mix coins in order to hide something. That means some of them might be a scam and they just don’t deliver on their promise. On the other hand, Monero is all about mixing all the coins used in a transaction. This means you will not have to mix only a certain amount of coins. As a result, you get to eliminate any of the suspicion, and you are also able to keep your identity hidden. Yes, Monero is all about removing any signs of suspicion, and it focuses specifically on providing you with the means to keep your identity a secret.
You won’t be targeted by any hackers and your purchases or sales will be kept a secret unless you want to disclose them of course. But the Monero system also manages to conceal the value of the transaction as well. So, no one will know that the transaction even existed.Read in full https://www.crypto-news.net/the-basics-of-monero-xmr/
