Many people have come to the realization that blockchain is here to stay and the need for their financial privacy keeps growing every other day. The mass movement from transparent system to those with privacy offering is real and Monero (XMR) is reaping from the demanding consumer. The platform is not hyped and the attention it draws comes from its real world use worth.
Monero is not a lone player in the privacy space there are other contenders that are shinier in their own rights. However, this particular coin has stood the test of time and the current adoption speaks volumes. The coin scalability and effectiveness saw the FBI fail to trace the AlphaBay founder XMR worth which was a plus for the privacy coin seeker.
Monero (XMR) Upholding Basic user Rights
According to the community workshop organizer manager at Monero, Justin Ehrenhofer, the attractiveness of the platform lies in its fungible nature and the enhanced security that are key components of a true privacy coin. In a recent interview, the organizer added that:
“Monero’s privacy features allows people to transact digitally without worrying about whose Monero is worth more or less than another, or who’s Monero will result in their account being investigated or closed”
According to Justin, privacy is a basic human right and you cannot be compelled to disclose your worth allow your wealth to be tracked by a third party without your consent. He goes on to add:
“Monero provided a substantial amount of privacy for all transactions and takes a respected approach to decision-making. It is a fair and decentralized coin like Bitcoin”
Monero Upcoming Upgrade
Monero annual upgrade will take place on October 18 and will see several changes and implementations poised to make the platform bigger and better. This is intended to take the privacy a notch higher, strengthen scalability and cement the ecosystem’s decentralization.
The Monero community has a lot to expect in the coming days especially the Kovri implementation that will enable user IP addresses untraceable. This will move the coin a step further since third parties will not be able to know the exact location of the user. Once implemented, Monero will become the first to enable users hide their IP.
Another community initiative, supported by Forum Funding System (FFS) is the introduction of Kasisto that will see making payments using XMR fuss free. This is a point of sale interface which will attain its beta stage by end of November, 2018. This will increase XMR transactions and uptake with the aim of boosting the coin demand.
Monero (XMR) Price Performance
Monero native coin XMR price has not been spared by the unpredictable market and has traded in the red for the last 24-hour trading session after losing to the dollar by 1.72% to trade at $101.29. The coin has also lost against BTC by a marginal 1.28% during the same period.
With the upcoming upgrade and the implementation of Kovri and Kasisto, Monero is set to close Q4 at a high note. These upgrades are consumer focused and a mass adoption is already in the offing. A pint of sale backed with a hidden IP will see investors keen on their privacy hop in and grow the community.
Unlike other systems in the blockchain industry that thrive on short term hyped up upgrades, the Monero (XMR) one touched on real world solutions that has been made necessary by the consumers. These are demand backed upgrades and integrations and will send the XMR price and value to the moon.