Why choose XMR compared to other cryptocurrencies?

The cryptocurrency market continues to develop because its user base increases over the years. Therefore, the use of these digital currencies around the world is becoming increasingly important. Since more and more providers and services accept crypto payments, more and more groups are also trying to participate in the success of the market by developing their own old coins.

The problem is that there are already thousands of old coins, most of which only seem to build on each other without really contributing anything important to the cryptocurrency community as a whole. It is therefore difficult to find coins that are as unique as the top players like XMR, which can be kept safely monero briefing bag . Cryptocurrencies like this have a characteristic characteristic that she takes off from the others, and in the case of Monero, his focus on data protection is unique to all other old coins out there.

to find out how Monero differs from others, you should read on and find out why others prefer it to others.

Unmept data protection

From the beginning,

Monero has released itself as a newly built data protection coin. The team behind it has not decided to copy the code base even the most popular coins on the market. They wanted Monero to be not traceable privately and even in itself. For this reason, XMR still stays that way without relying on additional programs.

It does not need a wallet to offer the unprecedented security for which it is known, nor an application of a third -party provider to do so. Instead, Monero uses ring signatures to disguise your account key in a transaction with other public keys to ensure that the transaction output is practically incomprehensible. In this way, nobody who tries to interfere with himself can only identify the true recipient or sender.

Apart from that, XMR also uses stealth addresses. This function records transactions with your own generated address in the blockchain. It does not leave any traces or information that leads to users who have used Monero. These are just two of many other data protection-oriented functions that improve the more people in the Monero community.

Clean money, total fungability

Monero was developed comprehensively to ensure that its users cannot be traced or identified. In addition, every coin leaves no history as it was used. So every coin remains clean. This gives users the certainty that their coins cannot be rejected for unjustified reasons.

That does not mean that Monero does not allow users to declare their expenses with XMR coins. But at least the users are given the choice instead of allowing constant vulnerability with their transactions. You will receive the right to agree to the transfer of your financial information if this is considered necessary.

This is important because this protects users from being arrested without a valid reason. If other cryptocurrencies have been used for illegal activities, an innocent user who happens to hold the coin can still be accused. Monero, on the other hand, assures its users their security and the certainty that their coins will remain fun.

Immunity of ASICS

In short, asics are devices that specialize in the algorithms of any cryptocurrency. This enables you to keep transactions much more efficiently on the blockchain than even the best commercially available computer. This also provides people or groups who can hoard many of these ASICs an unfair advantage.

This is important because a company would have the means of investing in many of these devices for a large-scale crypto mining process. You could effectively centralize all of the mining - and consequently the circulation - of all coins within the network of a single cryptocurrency. This contradicts the value of the decentralized financing promised by crypto technology.

Fortunately, Monero is based on a much more complex algorithm than most coins on the market. It not only keeps it strongly from the development of ASIC devices, but it even goes well on an average personal computer. This receives the same accessibility of XMR for all users, at least to the extent to which you can upgrade your mining rigs commercially.

Overall, the reasons for choosing XMR are quite practical compared to other coins. The digital age has led to greater concerns about privacy in the financial sector and in everyday life. There are advantages for an altcoin that can protect its users in this regard. In addition, these functions will only improve because Monero Open Source is and is a community that supports its development.

Of course it is just as important that a cryptocurrency - or any currency - keeps its value even after a long time. In addition, it should be accessible to everyone without unfair advantages in the system. This should remain his decentralized nature, since it is primarily one of the most promising properties of crypto.

Hopefully this was all helpful to understand what makes XMR unique as an altcoin. At the end of the day, the choice of the coin reflects what they consider to be the future of the global financial world.