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Monero {XMR} overtakes TRON {TRX}; recovers amidst darknet transactions revealed via new research

Bitcoin

Elliptic along with researchers from MIT and IBM have banded together in order to skim through thousands of bitcoin transactions that have occurred in the ecosystem. Thus, those who have used their cryptocurrencies for illegal activities are bound to come under fire.

The dataset covers 200,000 bitcoin transactions, which amount up to $6 billion. Once it is fully unveiled, developers will be able to code algorithms in such a manner so as to catch cunning operatives red-handed. This research may also help lawmakers who consider Bitcoin to be a dark entity in adopting a neutral outlook.

So far, only transactions part of the bitcoin chain has been disclosed. The same process if initiated again can put forth a similar result for other altcoins, including XRP and many more. Money laundering is a common crime in the cryptosphere. Although, this is exactly what Monero is trying to battle against: invasion of privacy.

Monero has a great fanbase in Asia, particularly in China, Bangkok and other regions. Considering the fact that almost every Government spies on their own citizens in order to combat threats related to “National Security”, XMR is a crucial token which can help senders and receivers in any corner of the world remain anonymous.

Following the Defcon Meeting #371,  a Community Workgroup Meeting is scheduled to take place on 3rd August. For more information, check out this link. Monero competes against ZCash [as a privacy coin with comparable features] and has been a fantastic gainer so far in the market.

Monero is ranked at #11 on coinmarketcap. TRON was previously at this position but has now slipped to #13. The price of XMR is at $86.08 and a growth rate of 2.83% was noted. The supply has 17,133,789 XMR tokens in play as of this moment, while the trading volume recorded sits at $97.277 million. The total market cap of Monero is $1.474.

Presently, the market cap of TRON is now at $1.458 billion.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.