Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Monero Forum => Topic started by: ArkiBitcoin on March 22, 2018, 03:13:59 PM
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There was a speculation in regards with the security of using bitcoin. Most of us the crypto community uses bitcoin as our main form of transaction but we all not know that using bitcoin is not that 100% we all know that the bitcoin uses blockchain in order to record the transaction chronologically and publicly.
In other words they can use blockchain in order to stalk you or detect you (but it has a lot of work) it may be hard but it's possible right?
While Monero uses ring signatures to obscure which outputs are being spent. Those ring signatures are made with 1 private key (the one you're spending) and an arbitrary of public keys, those of outputs that you cannot spend. The transaction you send will appear to spend one of that set. The trick is that you can generate signatures such that an observer (ie, someone finding the tx on the blockchain) can be assured that one of the outputs in that tx was spent with the corresponding private key, but cannot tell which one. On the blockchain, they only see the public keys of your spent output, and the N other public keys you picked from the blockchain. (user36303, 2016 bitcoin.stackexchange.com)
For you guys what do you think about the anonymity of it?
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The ring signature feature of XMR makes it more secured and safer and I really like that feature of XMR
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Bitcoin has a brighter future than Monero
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Differences Bitcoin with Monero
Although both use blockchain technology, bitcoin (BTC) and monero (XMR) have some very obvious differences. In bitcoin networks, everyone can see transparently all transactions. The sender address, recipient address, and number of transactions can be easily viewed in blockexplorer.com (http://blockexplorer.com) or blockchain.info (http://blockchain.info). Another case with monero, this digital currency is very focused on privacy so that transactions can not be seen except with the permission of its users. The address of the sender, the address of the recipient, and the number of transactions "hidden" with RingCT technology.
Also not less important is monero does not have a fixed amount of coin like bitcoin which is 21 million BTC. Upon reaching 18.4 million XMR, tail emission of 0.6 XMR will be applied every two minutes in the formation of a new block of monero. It is used as a "subsidy" so that transaction costs are not too expensive.
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Differences Bitcoin with Monero
Although both use blockchain technology, bitcoin (BTC) and monero (XMR) have some very obvious differences. In bitcoin networks, everyone can see transparently all transactions. The sender address, recipient address, and number of transactions can be easily viewed in blockexplorer.com (http://blockexplorer.com) or blockchain.info (http://blockchain.info). Another case with monero, this digital currency is very focused on privacy so that transactions can not be seen except with the permission of its users. The address of the sender, the address of the recipient, and the number of transactions "hidden" with RingCT technology.
Also not less important is monero does not have a fixed amount of coin like bitcoin which is 21 million BTC. Upon reaching 18.4 million XMR, tail emission of 0.6 XMR will be applied every two minutes in the formation of a new block of monero. It is used as a "subsidy" so that transaction costs are not too expensive.
Interesting.. I've been looking alot into Monero lately since I don't have any privacy coins in my portfolio other than some dirt cheap Vertcoin I've owned since the beginning of time it seems like.. I've been looking at Solaris, Smartcash for masternodes.. but Monero seems like the most serious player currently in this space..the dip has maybe already passed though so I may have to wait for a better entry.
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Monero and bitcoin both uses blockchain technology .However the ring feature of Monero make it more secure and safer. There is high privacy in Monero compared to bitcoin. Monero does not also have a fixed coins as bitcoin has.
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In privacy and annonmity, Monero far outstrips bitcoin due to monero's ring features. However in valie and popuarity, bitcoin still remains on top