Nick Szabo, a recognized cryptographer in the cryptocurrency space, recommends users to use Monero (XMR) if they want to protect their privacy. Monero is one of the most important virtual currencies in the market and it protects users that want to send and receive transactions taking care of their privacy.
Nick Szabo Considers Monero Protects Users Privacy
Bitcoin (BTC) has been expanding in the market as the most popular digital asset. According to CoinMarketCap, Bitcoin is now the largest in the market with a valuation of $185 billion. However, Bitcoin may not be the best option to protect users’ privacy and data.
Monero, the 13th largest virtual currency, works better for users to secure their information such as funds they own, transactions they have processed and precise amount of funds sent to an address.
Nick Szabo wrote on Twitter that Monero is better than Bitcoin for privacy. He has also mentioned that people should use this digital asset in order to be protected. He continued talking with different users on Twitter and he said that Grin and the MimbleWimble project look “very promising” for the future. Szabo has also mentioned that they have heard great things about it from engineers that he respects.
There are different virtual currencies in the market that offer users the possibility to protect their data when transacting funds in the crypto market. One of them is the so-called Zcash (ZEC) coin. About this virtual currency, he said that the technology that it uses is very interesting and important.
On the matter, he commented:
“The tech is very interesting and important. I’m not necessarily against founder’s rewards. This doesn’t mean for end users I recommend Zcash over Monero or vice versa; there are many issues re: how the tech is implemented & governed, many important details I have not studied.”
At the time of writing this article, Monero has a market capitalization of $1.45 billion and a price per coin of $85. Zcash, the 25th largest crypto, has a valuation of $528 million and a price of $75.
There are many privacy coins in the market and many others are expected to see the light in the future. However, Monero seems to be the strongest in terms of adoption and acceptance in the crypto community. Litecoin (LTC) and Tron (TRX) are also working so as to offer privacy solutions as well.
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