August 6, Monero (XMR) has skilled its greatest enhance in hashrate for the reason that community’s creation in 2014.
Monero hashrate. Supply: Coin Metrics.
The Monero hashrate elevated from 1.67 GH/s on August 5 to 2.2 GH/s on August 6. That 0.52 GH/s single day achieve is the best within the undertaking’s historical past. Previous to this, most vital each day proportion features got here within the undertaking’s early days when the bottom was a lot smaller.
Banks ought to embrace privateness cash to guard their shoppers
On August 3, Coin Middle submitted feedback to the Workplace of the Comptroller of the Forex on Nationwide Financial institution and Federal Financial savings Affiliation Digital Actions. These feedback urged that banks ought to embrace privateness cash moderately than combating them:
“We argue that Banks shouldn’t solely have the ability to use trustless mixing tech (coinjoin) or privacy-enhanced crypto (zcash/monero) however that they might be obligated to take action to be able to shield the privateness of their prospects.”
Monero presents a singular worth proposition?
It’s unclear what has led to this explosion in Monero hashing energy. In a world the place many really feel that they’re changing into topic to an ever-increasing stage of surveillance, Monero could merely current a singular worth proposition.
A lot of latest studies have indicated that Monero stays the most effective main privacy-preserving cryptocurrency. Whereas different privateness cash like Sprint (DASH) and Zcash (ZEC) will be traced with relative ease, Monero presents extra of a problem. This has led to a number of exchanges delisting it.
Monero trails solely Bitcoin (BTC) in its adoption charge amongst Darkish Net sellers, for whom the privacy-preserving options of crypto are generally fairly actually a matter of life and dying.