{"id":247049,"date":"2020-01-15T06:48:35","date_gmt":"2020-01-15T11:48:35","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=247049"},"modified":"2020-07-09T13:18:10","modified_gmt":"2020-07-09T17:18:10","slug":"monero-identifies-biggest-challenge-to-it-as-adoption","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/monero-identifies-biggest-challenge-to-it-as-adoption","title":{"rendered":"Monero Identifies Biggest Challenge To It As Adoption"},"content":{"rendered":"

Monero is world-renowned when one thinks of privacy coins, so much so that it\u2019s become a household name among crypto community members. Even so, it\u2019s been suffering these past few years due to those very strengths. The lead maintainer<\/a> of the Monero network, Alexander Blair, or Snipa, has recently spoken out about the various challenges Monero will face in the future.<\/p>\n

Need For Adoption Paramount<\/strong><\/h2>\n

Snipa was quick to identify the biggest one, in his eyes: Adoption. The problem comes from a large amount of competition that comes from the privacy coin market. Furthermore, Snipa believes that it won\u2019t be straightforward for vendors to accept Monero coins<\/a>, instead of some exchange-based workaround.<\/p>\n

He explained that it\u2019s still relatively easy to buy Bitcoin<\/a> to buy various products, should you not be within the bounds of the US. However, the use of Bitcoin as an intermediary doesn\u2019t really help the Monero ecosystem all that much. If you boil it down, using BTC as a third-party intermediary takes Monero out of the cashflow.<\/p>\n

\"Adoption<\/a>
Source: CryptoNewsZ<\/figcaption><\/figure>\n

Further Development Mandated<\/strong><\/h2>\n

On the technical side, Snipa has claimed that Monero\u2019s team is trying to figure out how to properly implement repository layouts within the network. Layouts when it comes to various aspects like maintenance, or things the team hasn\u2019t ever investigated before.<\/p>\n

Snipa explained that there are some definite amounts of faith and security that must be restored after a hack<\/a> event that happened earlier. At this time, Snipa and his team are striving to rebuild the network to ensure that such an incident never happens again. Snipa described this project as a \u201cbig thing\u201d that will take weeks to implement properly.<\/p>\n

No One True Coin<\/strong><\/h2>\n

As the interview went on, it wasn\u2019t long before Snipa gave his own views about the future of the cryptoverse. When asked if he imagined one coin to rule the crypto world, Snipa was quick to point out that he didn\u2019t believe that one coin will become unquestioningly superior to all others. Instead, he believes that there will be multiple different currencies.<\/p>\n

He described the idea of one currency for all as \u201ccompletely absurd\u201d to him. He made use of Bitcoin<\/a> to make his point, precisely the fact that the Bitcoin network has transparent ledgers. Sure, the ledgers are very good for some, but the fact that Monero is one of the best privacy coins around means that not everyone agrees with the ability to see the flow of money. Through this, he pointed out that there will always be a demand one coin will not meet, but another does.<\/p>\n","protected":false},"excerpt":{"rendered":"

Monero is world-renowned when one thinks of privacy coins, so much so that it\u2019s become a household name among crypto community members. Even so, it\u2019s […]<\/a><\/div>","protected":false},"author":1717,"featured_media":243157,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[7631,7598,7599,5297,7893],"acf":[],"yoast_head":"\nMonero Identifies Biggest Challenge To It As Adoption<\/title>\n<meta name=\"description\" content=\"Furthermore, Snipa believes that it won\u2019t be straightforward for vendors to accept Monero coins, instead of some exchange-based workaround.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/247049\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monero Identifies Biggest Challenge To It 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