- Monero and ASIC mining battle over privacy isn’t over yet
- XMR remains the only crypto outfit that provides absolute privacy
- Monero has implemented algorithmic changes that remove the need for ASIC altogether
Monero News Today – The issue of privacy has been quelled by the Monero protocol as the network may be the only outfit practicing true privacy. No wonder it is touted as the best network in terms of privacy in the industry. Since Monero was launched, the network and members of its community have been vocal about protecting user privacy.
Riccardo Spagni, the network’s lead maintainer, calls privacy a basic human right. Of course, Monero has been actively involved in privacy education about digital assets. Monero has made it an ambition to ensure that privacy is the core of its day to day dealings. The Monero community is renowned for supporting every initiative that is related to privacy no matter the digital asset involved. It may be the only community that pursues privacy actively and continues to comply with the AML/KYC guidelines stipulated by the industry.
One thing that many people fail to realize is how much user data is shared and exploited daily. What privacy coins bring to the table is unique. They offer users an iota of protection as well as the usual cash benefits.
How Much Privacy do Users Need?
Privacy typically goes hand in hand with following regulation and compliance. And they both are still ongoing processes. Users shouldn’t believe that the present-day privacy model in crypto is enough privacy for the future. We must understand that the system has to be constantly evaluated and tweaked. It must be made robust to bring in the much-needed solace that the bulk of users demand. Hence, Monero’s privacy has evolved over the years to implement and safeguard the privacy of users at the highest of levels. No wonder it has been voted as the most privacy-focused digital asset today.
What will be the Outcome if Monero Privacy Model and ASIC Mining Privacy Model don’t Align?
Both concepts are different. Hence, they view privacy in different contexts. Monero opposes the centralization of the efforts of the crypto mining network. Recall that before now, developers tweaked Monero’s network twice yearly. This was opposed vehemently by the community because it compromised Monero’s security. ASIC was brought in as a solution. Eventually, the Monero team chose to implement algorithmic changes that remove the need for ASIC entirely. RandomX was launched to give more power to CPU miners as opposed to ASIC miners. CryptonightR was phased out with RandomX taking its place. Now, Monero has attained an improved hash rate. It remains the most privacy-focused digital currency in the crypto market.