Privacy vs Monero

An overview of the privacy concepts related to Monero, a fork of a fork of CryptoNote. Most cryptocurrencies do not have privacy features, they are just simple ledgers with a send function to move numbers from one address to another. What typically exists natively is a thin layer of privacy called pseudonymous public addresses. Most cryptocurrencies like Bitcoin are almost fully transparent by design. We wish that central banks and governments were transparent, but they are desperate to stay hidden and will lock you in a cage to keep it that way. What are they hiding? They like to tell us that if you aren’t doing anything wrong then there is nothing to hide. For them, transparency is what we want.

Sometimes we want transparency in crypto, but for many transactions we would prefer more privacy. People and businesses generally don’t want others seeing what is in their account or what they spent on other people and things. It is natural and proper for private individuals and private businesses to have this kind of privacy. Monero employs some math based solutions to create more transaction privacy through obfuscation. It is not perfect, but it is an interesting, ongoing project. At the time of publishing this, I have not and do not use Monero, and I do not know it’s future. It is a layer 1 blockchain, which has and can update, and is not immutable, like all major layer 1 blockchains. If you have not spent the time to learn anything about Monero and you think your all your personal transactions should have a way to not be broadcast globally, then take an hour to listen.

 

This is Too Busy For Crypto. This podcast is for fans of cryptocurrency who want to increase their financial literacy and cryptocurrency literacy. I am not an expert. I am an enthusiast. This podcast is my hobby and is for education.

This episode is titled Privacy vs Monero, or, Hiding in Plain Sight Theory

 

Music from #Uppbeat, paid-for royalty-free tracks, not an ad.
Intro: https://uppbeat.io/t/moire/steal-in-sixty-seconds
Pre-outro: https://uppbeat.io/t/mountaineer/somewhere
Outro: https://uppbeat.io/t/mountaineer/albion