Monero communities are on Reddit, Stack Exchange, BitcoinTalk Thread, Mattermost Chat, and Telegram chat. Monero is very much Community driven. XMR as a cryptocurrency facilitates good store of value, because being a well-distributed global network, it is not possible to put an end to the existence of Monero. The value is well-distributed. The fact that there are no premining of developer tax are a nice thing to sustain its value.
Sydney Ifergan Crypto Expert tweeted: “Voluntarism is the key to reducing high fees. Collaborative value and co-creation of economy with Voluntarism is the dominant logic in the Monero cryptocurrency space. Therefore, the network is sustainable for mass adoption.”
The XMR price is currently below the $68 level; however, it sustains the bullish bias. While the price is away from the daily high it is within the ascending channel. Strong support is seen near $60, $62, and $58.
The subreddit of Monero (XMR) is used as a place where users whether new or old involve in general chatter, have their basic questions clarified. The majority of the community is hopeful that Monero fulfills the characteristics of a future currency.
Cryptographic research is one area where Monero has implemented several advancements concerning the core protocol. The community is involved in a lot of research and development; however, they have not put in as much effort in marketing. In terms of innovation and execution, the Monero project has strong talent. They have a decent track record. The Triptych research is expected to improve on the anonymity of the network.
Monero is different from other private coins by being trustless. The major thing about the trustless nature is that there is no need to trust a central team for the company to stay private.
Voluntarism is one of the major driving forces that contribute to the growth of Monero. The community has strong trust in the project. Crowdfunding is a major strength.
The block size of Monero has no cap and therefore it is dynamic. When considering Fiat currencies, which inflate by 2 to 6% every year, the inflation of Monero is zero.
After mid 2022 the block reward will not decrease from 0.6 XMR. The minimum block rewards for miners will be sustained. Thus mining activities are stable and therefore the whole ecosystem is trustable and secure. The ecosystem preserves the interest of the miners.
The actual anonymity set in Monero is strong because the transactions are private by default. Thus, Monero has all the characteristics desired to facilitate mass adoption.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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