Privacy coins are gaining more attention as of late. This is an expected turn of events, as bitcoin and other top currencies lack this particular trait by default. As far as Monero is concerned, there are a lot of things happening behind the scenes. All of these developments will impact the future of the project in one way or another.
The Triptych Research
One of Monero’s core features comes in the form of ring signatures. By utilizing such a protocol, the developers introduce a degree of privacy and anonymity. Further advancing the implementation and use of ring signatures is an ongoing process. It now appears that a new construction could be researched in the future.
Logarithmic-sized linkable ring signatures can be introduced through Triptych. It is a different construction which offers scaling advantages. Moreover, it is very efficient in terms of batch verification. It also aids in reducing the Monero signature further, which may have a positive impact on the overall network transaction fees.
XMR Auctions Have Potential
When people talk about Monero, an auction-oriented solution is not something that comes to mind immediately. One community member is trying to change that for the better. An open source application has been created to let users operate their own marketplaces.
The exact purpose of the project remains to be determined. It is still in the rudimentary stage at this time. In terms of improving real-world usage of XMR, it has tremendous potential. While building an eBay competitor may be a bridge too far, there are ways to put this concept to good use.
Weekly Monero Talk
People outside of this altcoin’s community may not be aware of the weekly Monero Talk episodes. In this week’s edition, various intriguing topics are discussed. Both Tari and atomic swaps can be crucial to the future of XMR as a currency. It is another community-driven effort that deserves a lot more attention.
PiNode-XMR for Full Nodes
Plenty of people want to run a full node for a cryptocurrency network. Most of them struggle with the technical approach to doing so. Anyone interested in supporting this altcoin can take a look at the new PiNode-XMR update. It lets users run a full Monero Node on their Raspberry Pi 3/4 with relative ease.
Four different node modes are available. Giving users different options is crucial. The node can be controlled through a Web-UI, and doesn’t require an extra monitor to keep it running. Supporting the person responsible for this software is always a good way to show one’s appreciation.
Coinbase “Validates” Privacy Coins
Over the past few years, most privacy coins have received negative attention. This is primarily due to their alleged association with criminal activity on the internet. Despite those roadblocks, this decade may prove beneficial to currencies such as Monero. Coinbase CEO Brian Armstrong expects privacy coins to gain mainstream adoption.
The post by Armstrong seems to lean toward favoring XMR. Armstrong confirms how privacy by default is the only viable way to go. Most of the privacy coins on the market have optional privacy features, which is not ideal. That situation can still change as more time progresses, however.