Cryptocurrencies continue to grow. The official release of the GUI for Monero (XMR) portfolio announced on December 22 provides an impetus for the cryptocurrency bullish moment breaking the $ 10.00 range.
The development of GUI will help to grow the community that revolves around Monero, leading to a greater adoption and recognition of ryptocurrency. Since Monero seems to be a work of good dedication, the community will certainly embark on an exciting journey in 2017.
The developer of Monero, the Italian Riccardo Spagni points out that Monero is “a proof that cryptography does not need funding.” Anyone can contribute to the project if they wish, in which contributions are sent through an open system.
A future improvement that is to come in the next few days is the implementation of Ring Signatures to strengthen the offer of privacy.
Monero has had an important basic impulse in those who have contributed to its development, and is expected to position very well in the spectrum of ryptocurrencies. There is no doubt about Bitcoin’s dominance, but as his reputation expands, people will also set their sights on developing digital currencies.
Created in April 2014, Monero’s third birthday will be soon. The Japanese proverb translated as “three years into a rock” might be appropriate for Monero investors, with cryptography still in its developmental years; The rollercoaster effect over the last 12 months on the price of this digital currency indicates that it will be one of the cryptocurrencies to be followed closely in 2017.
During the second half of 2016, XMR-USD rose from $ 1.27 to a high of $ 15,249 in as little as five weeks. With the long-term upward trend for XMR-USD still latent, prices are anticipated in the order of above $ 9.91, $ 11.95 and $ 15,249.
With Monero, you have been your own bank. Only you control and are responsible for your funds and your accounts, and the transactions are kept private at all times safe from prying eyes.
By leveraging ring signatures, a special property of certain types of cryptography, Monero allows untraceable transactions. This means that it is ambiguous to determine what funds have been spent, and therefore very unlikely to establish when a transaction could be linked to a particular user.
The non-traceability of Monero is its great characteristic. Monero uses a specific protocol that generates several unique addresses that can only be linked by the receiver of payments and that cannot be revealed through the blockchain analysis.
Like any other digital currency, Monero is cryptographically protected. However, the peculiarity of the algorithm guarantees that it is impenetrable at the time that some malicious person would like to try to steal your funds.
To put it briefly, his wallet of Monero is impenetrable.