Why Monero XMR Price Will Rise in 2020
The Monero XMR received a major boost from Peter Todd is a reputable Cryptocurrency developer, who stated that he prefers XMR over other digital currencies since it is genuine crypto. Peter Todd went on to say that the Monero offers better privacy, it’s built on some real development work. It provides better security and privacy solutions.
John McAfee also gave a positive price prediction regarding Monero XMR. While McAfee did not provide an exact Monero price prediction, he stated that the Monero has the potential to challenge Bitcoin as a leading digital currency. He has been very vocal in support of Monero XMR in several interviews and through several tweets.Why Monero XMR Price Will Rise in 2020
Additionally, Riccardo Spagni, a developer of the digital currency, stated that the Cryptocurrency was developed to safeguard user’s privacy. As such, this feature has led to its widespread use by criminal hackers. This extensive use may see the Monero’s price Rise in the future.
Despite becoming more reputable by the day today, the digital currency community is still plagued by bad actors, malware and scammers. On a deeper level, some traditional institutions have expressed concern over cryptocurrency being used for illicit means, such as money laundering and funding illegal operations.
On the back of such concerns, community members from market-leading privacy coin Monero are looking to launch an initiative to combat common crypto scams.
The initiative announced on Monero’s official site by Justin Ehrenhofer comes from a community with a vested interest in changing the public perception of certain coins. The same reasons that Monero coin has attracted a large number of advocates also invites concern from others.
Due to its private, untraceable nature, Monero has become a favorite for scammers. A recent report showed approximately $175 million in Monero had been mined by “Cryptojacking” programs. The number is far more than any other coin and represents more than 5 percent of the total circulating supply of XMR.
In Ehrenhofer’s announcement, he stated the accessibility of Monero’s mining algorithm was a positive thing but unfortunately opened itself to bad actors.
“While the vast majority of users take advantage of these features for good, some attackers use Monero XMR to earn money from machines without users’ consent. They may run miners on webpages that activate without a user’s consent. They may infect machines or hide them in other packages and run mining software. They may infect machines, encrypt the local files, and demand a ransom payment in XMR. The Monero community condemns this malicious, non-consensual use of equipment to mine.”
The community initiative to combat malware comes in the form of an educational website, with advice provided by a community-driven group called the Monero coin Malware Response Workgroup. The site will provide diagnoses and action plans for Unwanted In-Browser Mining, Unwanted System Mining, and Ransomware attacks.
Further positive Monero Price rise news comes from ViaBTC, which has launched a Monero XMR mining pool that comes with a 50% reduction in mining fees for the first three months of subscription.
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