Thousands of digital currencies are existing today. Their market cap varies from millions to Billions of USD. We are in a very primary stage of digital currency disruption. In times to come, we will see the disruption unfolding, leading to widespread transformation in thoughts, habits, and our behaviour.
Major countries including India, are thinking about digitisation of money. Many of the private digital currencies will journey to next decade, but many of the digital currency that does not add value, will also vanish in the process.
This can be one of the biggest wealth generating moment, as the basis connotation of the fiat money is shifting sands.
Our initiatives at Galactik Views, is to cover those currencies, which we believe have reasons to emerge as winners in future. Our segment ‘Crypto Race – The Future Winners’, is a dedicated series where we will cover the upcoming winners.
Real value add that Monero provides is its superior quality privacy functionality. Though privacy has become very debatable, when used in the context of crimes and unlawful transaction, privacy will be one of the key differentiators in the peer-to-peer cashless transaction process. In future Government will find a way to keep a watch on the decentralised network, for tracking unlawful transaction. That will eventually emerge at the Government level but below that privacy will be one of the most essential elements of the transaction, that will convince the masses to adopt best in class privacy driven digital currency. We will see some of the private digital currency existing along with the sovereign digitised currency. Cross country transactions on a peer-to-peer basis will evolve. This will boost the requirement of privacy in the transactions.
Further the success of currency will also lie in the ability of the currency to emerge as a medium of exchange. Currency that attracts lesser transaction cost and can be offered as a more convenient medium of exchange will attract wider adoption by the communities. Monero offers these qualities. Monero will have ultimate supply of 18.4 million XMR, and Once the total number reaches the mark of 18.3 million then money supply will stop decreasing and stay at a constant rate of 0.3 Monero per minute, as a means to incentivise the miners.
Monaro can be mined through CPU and GPU, without the usage of ASIC (Application-Specific Integrated Circuit). This can be a great edge of competence. Climate risk are eminent and usage of ASIC is a climate concern as it uses a lot of electricity.
Privacy, easy to transect, reduced energy consumption are some of the key features that will promote the adoption of Monero in times to come.
Monero at the time of writing have $4.5 billion valuation and is trading @ $255.