In Germany, thousands of crypto-enthusiasts have made their presence known. Although the nation’s leaders remain skeptical of virtual currencies. In a report put out by the Ministry of Finance, the lawmakers decided to take aim at Monero, a privacy-centric project. Tracking transactions on the Darknet becomes astronomically difficult when XMR is involved.
The government considers Monero and privacy-based assets as highly risky; nowadays terrorists have decided to switch to crypto so as to avoid being traced by officers of the law. Do note that both Germany and France had displayed a hostile attitude towards LIBRA [an initiative backed by Mark Zuckerberg and David Marcus].
Facebook has access to personal data of millions scattered all over the globe. On the other hand, GRIN, BEAM [which are both MimbleWimble-based] as well as XMR are gradually gathering support from people as they begin to realize the problems associated with mass surveillance.
Most governments [including India] have claimed that surveilling their citizens is necessary in order to keep threats linked to “national security” at bay. The politicians don’t wish to be held accountable for corruption, but they have no issues with looking into the personal lives of millions.
This is precisely the reason why I expect GRIN and BEAM to be major ventures in the near future. For both these projects, transaction details aren’t stored on the blockchain and enhanced scalability is yet another key feature.
Monero is ranked at #15 beneath UNUS SED LEO in the market. In the course of the past 24-hours, the price shot up at a rate of 2.39% which, in turn, led to XMR reaching all the way up to the $53.59 mark where it currently holds. The trading volume recorded stands at approximately $103.840 million, whereas the supply houses 17,275,121 XMR coins as part of the circulation. The total market cap of Monero is $925.789 million as of this instant.