In this day and age, privacy is becoming more important and in some countries can mean life or death where censorship exists. This is where Monero comes into play and ensures privacy for the people. Monero is a fungible cryptocurrency that focuses on anonymizing transactions and establishes a private, censorship-resistant token that can be used to transfer value around the world. Through the use of a powerful privacy-focused protocol known as CryptoNote, Monero has been able to show that transactions of value can indeed remain private from prying eyes.
What does Monero do?
To better understand what Monero does, I have demonstrated a comparison between Bitcoin and Monero in Figure 1.
Figure 1: Comparison between Bitcoin and Monero.
A common fallacy that still looms around…