welcome to cryptosafe in today's video we will be talking about monero and why we think monero will be the future for cryptocurrency and will rise in price monero is one of the crypto coins that values people's privacy which is becoming scanty cryptosafe mainly covers privacy coins the need and value of those coins and some gem fundamentals you cannot miss but before we start make sure to hit the subscribe button and turn on the notification bell done let's get started monero was released in 2014 and its goal is simple which is to allow transactions to take place privately and anonymously even though it's commonly thought that bitcoin can conceal a person's identity it's generally easy to trace payments back to their original source because blockchains are transparent on the other hand monero is designed to obscure senders and recipients through the use of advanced cryptography the team behind monero consider privacy and security as their biggest priorities with ease of use and efficiency coming second it targets to provide protection to all users irrespective of how technologically advanced they are seven developers were originally involved in creating monero five of whom decided to remain anonymous there have been rumors that monero was also invented by satoshi nakamoto xmr's origins can be traced back to bytecoin which is a privacy focused and decentralized cryptocurrency that was launched in 2012.

Two years later a member of the bitcoin talk forum forked bcn's codebase and monero was created so welcome they had suggested impactful changes to bitecoin that others in the group disagreed with and decided to take matters into their own hands it's believed that a huge number of developers have contributed to xmr over the years there are many things that make monero special one of the project's biggest targets is attaining the greatest level of decentralization possible which means that a user doesn't need to trust anyone else on the network privacy is attained through a few special features whereas each bitcoin in circulation has its own serial number which means that the currency usage can be monitored xmr is completely fungible by default details about senders recipients and the amount of crypto being transferred are hidden and monero advocates say this provides an upper hand over rival privacy coins such as zed cash which are selectively transparent this hiding is attained through the use of ring signatures here past transaction outputs are taken from the blockchain and act as decoys which means that outside observers can't tell who signed it to ensure that transactions cannot be linked to one another stealth addresses are generated for every single transaction which are only used once all of these features have led to xmr being explicitly used for illicit transactions instead of bitcoin especially on dark net markets governments around the world especially the us have also provided hundreds of thousands of dollars to anyone who can crack monero's code as per the technical analysis keeping up in rhythm with the same bullish trend there are price estimations that the monero coin is poised for an upswing even in the next year that is 2022 following the trending pattern of xmr usd it is trading within the limits of a symmetrical triangle on the hourly chart it is clear that monero 2 shall go parallelly on the same bullish trend lines even though it is too early to predict whether the value of monero will break from the peak what is clear is there is light at the end of the tunnel considering the series of sequential peaks and troughs the cryptocurrency value only continues to show a positive trend among the receding pandemic scenario hitting the 620 dollar mark time chose the right stuff looking at the study of shorter and longer price trends xmr has been moving from its path normally every couple of years so going forward it is very likely that the end of 2022 or the year 2023 may not be so great for monero prices to escalate especially with others catching up heat or other factors there is an estimated eventuality of xmr incurring a loss but only short dropping to 600 again however this continues as a pessimistic scenario and some experts do not agree with this considering that a jaw dropping possibility does not exist and that bulls will take on the crypto market it is also expected that monero will rule the crypto kingdom with a performance of value pegged at 930 this is the same as that was predicted at the end of the year 2021 which indicates that the price of xmr has the potential to not only sustain but consistently grow even in adverse conditions very hot stock right now yeah moving on to 2025 the year might mark as the benchmark year as the monero price is predicted to surpass one thousand dollars by all means majorly because in this year no crucial factors like pandemic or recession are expected to hit the roots of world economies and it is estimated that most of the damage done would be on road to repair work in all world economies with mass adoption the xmr price is predicted to hit around eleven hundred dollars by 2025 which is a rise like never before the monero community has recently challenged ciphertrace who believes they have found the first way to track monero transactions monero was designed to make transactions on the network untraceable by a third party ciphertrace recently made an announcement claiming they had found a way to trace xmr transactions many experts released videos tweets and blog posts challenging these claims and the reason for this widespread disbelief within the monero world is that the coin is an open source project focused on being anonymous i just want to be anonymous like everybody else hiding senders in monero takes more than just guarding addresses and monero is represented on the blockchain as outputs of transactions called txos htxo is titled using a unique id called the public key which is the stealth address by just viewing the monero blockchain txo public keys cannot be connected to monero addresses therefore public keys themselves need protection it would be obnoxious for the flow of monero among public keys to be transparent keeping in mind that techniques outside the blockchain could connect those public keys to people monero movement among public keys is held secret right now using what are called cryptographic ring signatures with this approach the public key for an actual txo is hidden by grouping it with decoys looking at a transaction it is not possible to tell if the real txo is being used or one of the decoys the core ring signature algorithms have also improved the original crypto note white paper gave a ring signature scheme different from the current more efficient implementation based on multi-layered linkable spontaneous anonymous group signatures a widely awaited enhancement called concise linkable spontaneous anonymous group signatures is coming soon and estimated to further cut overall transaction size by about a fourth and verification time by about a tenth all these improvements have given monero anonymity and every time monero is spent each real txo source in the form of a txo public key already cryptographically disconnected from the sender's monero address is hidden among 10 decoy public keys that are selected to resemble real possibilities this frustrates surveillance all the while monero software operated quickly and smoothly giving a good blockchain size and speed but monero's sender hiding is not perfect and 10 decoys are not always enough because some random txos could be identifiable they might have previously been used with public knowledge the existence of black ball lists also indicates this as a potential problem and gives a workaround to those with the motivation to add the list to their wallets and there are other ways to identify decoys which includes tying txos to pools and exchanges estimating their validity in other transactions and using timing possibilities i don't have the code anymore jeffrey to address this challenge triptych a new algorithm for ring signatures developed by sarang nother and brandon goodell of the monero research labs if outside partner arthur blue found a solution with triptych the size of the ring signature increases logarithmically instead of linearly logarithmic growth is very slow the best known growth pattern without having to resort to trusting someone to use then destroy randomness during setup the verification time still increases linearly with the number of decoys in triptych but verification can be evaluated using specialized algorithms which provides some speed up triptake overcomes multiple challenges for ring signature application to monaro it allows linkability monero's ring signature technique must block the reuse of legitimate public keys to prevent using a txo more than once triptych does this using linking tags that are similar to today's key images triptych also allows the use of confidential transactions to hide monero amounts special information called commitment keys allow proof that the monero amounts in a transaction are legit without disclosing those amounts these commitment keys with the signing keys and linking tags are the three parts originating from the name triptych meaning something of three parts but we need to know that all cryptos are subjected to market volatility and you should do your due diligence before any investment with that we are at the end of the video what is your thought on monero let us know in the comments section below remember to be a part of our family if you found the video interesting make sure to hit the like button and subscribe for more see you soon until then bye

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