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Monero team member Riccardo Spagni reaffirmed his belief that a so-called ‘layer two’ scaling solution is needed for Bitcoin — stating it is “necessary” for capacity improvements and “maximal privacy.”
Lightning Network Strikes Down Ver Claims
Spagni’s comment appeared on Twitter in response to fresh assertions from Bitcoin Cash (BCH) proponent Roger Ver that Bitcoin (BTC) users should “move on” to alternative, on-chain scaling options. Wrote Ver:
If you think BTC with its full block, high fee policy will be able to maintain market share, you are mistaken. It won’t, and it is time to move on to other things.
With the day almost coming to a close, it would appear there may be some positive short-term momentum for all cryptocurrencies. A few coins have gone in the green, whereas the others have recovered from the most recent setback. The Monero price continues to impress, as it has gained another 2.47%.
Monero Price Hold its own Quite Well
Monero has always been one of those “oddball” cryptocurrencies when compared to other top coins. Not because it doesn’t have any potential, but rather because it is so often overlooked, for some unknown reason. The recent ban by Japanese exchanges against Monero and similar coins isn’t helping matters much either.
It has been a rather interesting 24-hour period for most cryptocurrencies on the market today. Interestingly enough, most people tend to overlook the Monero price in this regard. While it may not be in the top 10 any longer, it is evident the 24-hour gains should not be overlooked by any means.
Monero Price Surge is Surprising
For one of the top cryptocurrencies with perhaps the lowest trading volume of the top 15, the Monero price is doing surprisingly well. Although this gain is mainly materializing thanks to the rise in Bitcoin’s value, it would appear this anonymity-oriented altcoin is in high demand as of right now. Whether or not that is due to its rising popularity on the darknet, remains to be seen.
Tari, a new open-source blockchain protocol, aims to redefine the digital asset experience. Backed by institutional investors including Redpoint, Trinity Ventures, Canaan Partners, Pantera and Multicoin Capital, its founders Riccardo “fluffypony” Spagni, lead maintainer of the Monero cryptocurrency; Naveen Jain, a serial entertainment industry entrepreneur; and Dan Teree, co-founder of Ticketfly, hope to simplify the management, trade, programmability and use of all digital assets.
Current State of Digital Assets
“Today, most digital assets such as event tickets, in-game items, loyalty points and virtual currencies are siloed due to restrictions that limit their use and secondary market trade,” Jain said in an interview with Bitcoin Magazine.
Japanese exchange Coincheck has announced partial resumption of operations with Monero. Its clients will be able to withdraw and sell XMR, but purchases are still unavailable. All previous requests for transactions have been canceled and users will have to initiate new transfers. They will be required to confirm the destination address, and state the purpose of each transaction.
A Japanese regulatory working group focussing on cryptocurrencies has suggested exchanges should not be “allowed” to trade certain altcoins including Dash and Monero.
FSA Suggests Altcoin Squeeze
As Forbes reports citing a meeting of the group, which consists of industry experts organized by Japan’s regulator the Financial Services Authority (FSA), the anonymity options such altcoins present could be grounds to banish them from the country’s burgeoning exchange sector.
“It should be seriously discussed as to whether any registered cryptocurrency exchange should be allowed to use such currencies,” an unnamed member said April 10.
With all of the hard forks going on in the world of cryptocurrency, it is difficult for exchanges to keep tabs on things. It now seems most of the exchanges will not support the upcoming MoneroV hard fork. For some people, this is anything but a surprise, whereas others see it as a form of censorship.
Poloniex Wants Nothing to do With MoneroV
Monero users are all too aware that there are numerous hard forks of this particular currency. While there are very few coins which offer both privacy and anonymity features in a permanent fashion, it is evident Monero is the one currency to keep an eye on in this regard. As such, some coins are trying to ride its coattails to success, including the upcoming MoneroV hard fork.
Why Mine Monero? Monero is one of the top privacy coins on the market. It currently resides in 10th place on the market cap list, and it has one of the most engaged communities of developers and users around. Mining Monero is one of the most user-friendly mining experiences out there. Monero uses an algorithm […]
One hard fork later, there are four new Monero projects.
Monero hard forked to version 12 of its protocol yesterday. But not everyone is on board. Following the example once set by Ethereum Classic, some users are continuing on the pre-hard fork Monero blockchain… though in this case not as a single project. Now there is Monero Classic, Monero 0 (XMZ), Monero Original (XMO) and a second project by the name Monero Classic (XMC) (which in this article we will refer to as Monero-Classic); these are all continuing on version 11 of the Monero protocol. Of course, this means they are all still compatible on a single network, using the same asset (coin) — just with different names.