August 6, Monero (XMR) has skilled its greatest enhance in hashrate for the reason that community’s creation in 2014.
Monero hashrate. Supply: Coin Metrics.
The Monero hashrate elevated from 1.67 GH/s on August 5 to 2.2 GH/s on August 6. That 0.52 GH/s single day achieve is the very best within the challenge’s historical past. Previous to this, most vital each day proportion positive aspects got here within the challenge’s early days when the bottom was a lot smaller.
Banks ought to embrace privateness cash to guard their shoppers
On August 3, Coin Heart submitted feedback to the Workplace of the Comptroller of the Forex on Nationwide Financial institution and Federal Financial savings Affiliation Digital Actions. These feedback advised that banks ought to embrace privateness cash quite than preventing them:
“We argue that Banks shouldn’t solely be capable of use trustless mixing tech (coinjoin) or privacy-enhanced crypto (zcash/monero) however that they could be obligated to take action with a view to shield the privateness of their prospects.”
Monero presents a singular worth proposition?
It’s unclear what has led to this explosion in Monero hashing energy. In a world the place many really feel that they’re turning into topic to an ever-increasing stage of surveillance, Monero might merely current a singular worth proposition.
Quite a lot of latest stories have indicated that Monero stays one of the best main privacy-preserving cryptocurrency. Whereas different privateness cash like Sprint (DASH) and Zcash (ZEC) will be traced with relative ease, Monero presents extra of a problem. This has led to a number of exchanges delisting it.
Monero trails solely Bitcoin (BTC) in its adoption fee amongst Darkish Internet sellers, for whom the privacy-preserving options of crypto are typically fairly actually a matter of life and demise.
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