Monero Is Incomparable In Terms of Securing Privacy

Monero Is Incomparable In Terms of Securing Privacy

Monero was started with the aim of data privacy focus while Bitcoin is like a credit card.


Monero Is Incomparable In Terms of Securing Privacy

Introduction

There are many cryptocurrencies in the world. Bitcoin and Monero are two popular cryptos in the market. Bitcoin (BTC) the real crypto which started the entire game. One of the crypto assets created from Bitcoin is monero. Bitmonero was launched in 2014. Monero was started with the aim of data privacy focus, While bitcoin is like a credit card. Monero ensures complete privacy while performing the transactions.


Monero vs Bitcoin

1. Stealth Adress: One of the major features of Monero is Stealth Address which gives it a unique brand in privacy. Stealth addresses are one-time that cannot be linked to the former published addresses or other things. In different words sending of the various Monero transactions from the same standard Monero address will appear in the blockchain.

2. Ring Confidential Transactions(RFT): Ring confidential Transactions are the product of two innovations which are nng transactions & confidential transactions. With regular cryptographic transactions like in the bitcoin people can sign in easily but this is not possible in the case of Monero. Confidential transactions help in hiding the transactions of money from others.,

3. KOVRI: it is a unique security feature that is under development. It uses a case like the Tor browser which hides the transactions of HACKERS. Bitcoin has no specialized features like Kovri. Kovri uses the applications like browsers to read the habits of the users.

4. Fungibility: One of the important reasons that privacy is important for both Monero & bitcoin because Money cannot be fungible without privacy. In a comparison of Monero bitcoin lacks fungibility.


Transaction Speed

The transaction speed of miners takes 2 minutes to confirm the transactions. But the transactions cannot be said confirmed until the network acquires the transactions at least 10 times. So Monero takes 20 minutes to finalize the transaction. On the other hand, Bitcoin takes 10 minutes to confirm the transaction process .so we can say easily see that Bitcoin has an uptrend in this case.


Transaction Fees

In comparison to Monero the transaction fees of Bitcoin are a bit higher due to various reasons. We can say that is due to the extreme popularity in the world of cryptos.


Scalability

Scalability is the ability to manage a lot of Transactions. Bitcoin is the winner in terms of Scalability due to the reasons that the number of customers in Bitcoin is much more than Monero.


Mining Algorithm

Proof of Work Mining is the system that is used by Bitcoin & Monero. Monero & bitcoin use different mining algorithms. The bitcoin mining algorithm is SHA-256 and it can work on application-specific integrated circuits. In the case of Monero, it uses the mining algorithm known as RandomX and it is ASIC resistant. In this case bItcoin is the winner.


Network Effect

Simply, Bitcoin will beat Monero in terms of Network Effect. Bitcoin manages the large number of transactions daily and Monero has only a few thousand transactions.


Supply

Bitcoin has a maximum supply of 21 million and Monero has no maximum supply but it is going slower with time.


Price

Bitcoin has an advantage over Monero. Bitcoin price is much more than Monero and it is the top crypto in the world.


Wrapping Up

It is hard to predict the winner in the case of Bitcoin vs Monero. We can say without much analysis that Bitcoin is the king of the crypto world but it is not so advanced in terms of Privacy issues. Monero has modern features of security which can outperform any crypto in privacy issues.


Edited By Team CLIQTAX

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