“You can’t execute chain reorganization attacks” on XRP, he stated, contrasting it with proof-of-work systems that depend on high hashrate incentives to remain secure.

Vet argued that these incentives can fail when network mining power is insufficient, exposing smaller chains in the process. He stated, “That’s why the XRP Ledger is the most secure network,” emphasizing its superior design.

Vet compared Monero’s vulnerability to Bitcoin’s resilience, noting that Bitcoin is “a lot harder to attack” because the cost to gain majority control of its hashrate is prohibitively high. He added that Monero “just doesn’t have enough hashrate to protect itself with high difficulty,” which makes it susceptible to the kind of takeover currently underway.

Thats why the XRP Ledger is the most secure network. You can't execute chain reorganization attacks.

All because PoW needs to house incentives.

Here on Monero, a $300 million market-cap chain is taking over a $6 billion one. https://t.co/RCykfA6qeT

— Vet (@Vet_X0) August 12, 2025

The Monero 51% Attack

Monero, a privacy-focused blockchain, recently faced a successful 51% attack. Reports state that the Qubic mining pool has gradually amassed most hashrate over several months. This control has enabled a major chain reorganization, giving Qubic the capability to rewrite the blockchain, execute double-spending, and censor transactions.

Estimates place the daily cost of sustaining the attack at $75 million. However, with Qubic effectively able to mine nearly every block, there is potential for significant rewards. At the same time, other miners face a lack of incentive to participate as their blocks can be orphaned, consolidating Qubic’s dominance.

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The Superior Consensus Mechanism

Vet’s assessment centers on the difference between proof-of-work and the XRPL’s consensus protocol. On the XRPL, transactions are confirmed through a process where validators agree on the correct ledger state within seconds, while maintaining the decentralized nature and ensuring no single entity has total control.

There is no mining and no probabilistic confirmation model as seen in proof-of-work systems. This means finality is deterministic, and once a ledger is validated, it cannot be reorganized by a majority-hashrate attack, giving it a major advantage over Bitcoin and other proof-of-work blockchains.

This design serves as a structural safeguard, and Vet contrasted it with the current incident affecting Monero, where a single mining pool’s dominance has allowed them to alter the blockchain’s history. In this case, the attacking chain’s network value is around $300 million, yet it is successfully exerting control over Monero, which has a market capitalization of roughly $6 billion.

In addition to significant energy efficiency, XRP’s design offers far superior security, making it far better than Monero’s or Bitcoin’s consensus mechanism.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Are you intrigued by the world of cryptocurrency but find the jargon and processes overwhelming? You’re not alone. Among the plethora of digital currencies, Monero (XMR) stands out for its strong emphasis on privacy and security. This guide is tailored for beginners and breaks down how you can own Monero without navigating the complex Know Your Customer (KYC) procedures typical of many exchanges.

What is Monero (XMR)?

Monero is a cryptocurrency much like Bitcoin, but with a critical difference: it’s designed to be completely private and untraceable. While Bitcoin transactions are transparent and can be traced back to the individuals involved, Monero uses sophisticated cryptography to ensure that transactions remain confidential. This makes Monero a preferred choice for those who value privacy in their financial transactions.

Why Monero Stands Out:

• Stealth Addresses: Every time you receive Monero, it comes to a unique address that can’t be linked back to your public address, akin to using a unique P.O. box for every package you receive to protect your home address.
• Ring Signatures: When you send Monero, your transaction is mixed with others, making it impossible to tell who sent what, much like a group of people signing a document with identical pens and handwriting styles to protect the signer’s identity.

The Challenge of KYC:

Buying cryptocurrencies often involves KYC procedures, where you must disclose personal information to comply with anti-money laundering laws. This can feel intrusive, especially for those who are drawn to Monero’s privacy aspects.

How to Buy Monero Without KYC:

Platforms like StealthEX have emerged as a solution for those looking to bypass KYC checks. These platforms allow you to exchange other cryptocurrencies for Monero directly without needing to submit personal details, thus preserving your privacy.

A Simple Guide to Your First Monero Purchase on StealthEX:

1. Select Your Trade: Choose Bitcoin (BTC) or any other cryptocurrency you own and want to exchange for Monero (XMR).
2. Enter Details: Specify how much you wish to exchange and provide your Monero wallet address where you will receive XMR.
3. Confirm and Transfer: Double-check the transaction details, then transfer your chosen cryptocurrency to the provided address.
4. Receive Monero: Once the transfer is confirmed, StealthEX will process the exchange, and you’ll receive Monero in your wallet.

Why This Matters for Beginners:

Choosing a KYC-free path to Monero allows you to dip your toes into the cryptocurrency world without the need for complex verification processes. It’s fast, simple, and keeps your personal information out of the equation, offering a smooth first step into crypto.

Takeaway:

For beginners, Monero offers an appealing blend of privacy and simplicity in the often intimidating world of cryptocurrency. Platforms like StealthEX make it more accessible by removing the barriers of traditional KYC procedures. As you embark on your cryptocurrency journey, remember that the most important steps are those that align with your values and comfort level, especially when it comes to privacy and security.

The post Step-by-Step: Transforming Your Bitcoin into Monero Without Hassle appeared first on Times Tabloid.

While the exact reasons for these removals remain unclear, it has sparked speculation and concerns about the changing rules for cryptocurrency exchanges.

Read Also: Monero (XMR) Completes Network Upgrade to Improve Privacy

Privacy Worries and Regulatory Pressure

Experts believe that Monero’s ability to keep transactions private might be a reason for its removal. Monero has gained a reputation for being used in illicit activities due to its difficulty in tracing transactions. This has caught the attention of regulators worldwide who are pushing for stricter rules to prevent money laundering and ensure customer identification in the cryptocurrency industry.

Binance’s recent $4 billion settlement with the US Securities and Exchange Commission (SEC) adds to the intrigue. The exchange has committed to following regulations and cooperating with authorities, which makes the removal of a privacy-focused coin like Monero (XMR) seem like a strategic move in line with its new approach.

Beyond Monero (XMR): Wider Implications

The removal of these coins raises concerns about the potential impact on other projects that prioritize privacy. It’s not just Binance; other major exchanges like Coinbase have also delisted privacy coins in the past. This trend reflects the increasing pressure from regulators and could limit the availability of such projects on popular exchanges.

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Read Also: First Atomic Swap Providers Surface for Bitcoin-Monero Atomic Bomb on Monero Network

User Choice vs. Compliance

The removal of these coins highlights a dilemma in the crypto world – striking a balance between user choice and complying with regulations. While users appreciate having a variety of options, exchanges need to follow rules and be transparent. This is crucial for the long-term stability of the cryptocurrency industry.

The delistings on Binance raise important questions about the future of privacy in the crypto space. Will privacy coins become niche products, only available to a limited group of users? Or can they adapt to address regulatory concerns while still offering privacy features? Additionally, how can regulators and the crypto industry work together to create a framework that fosters innovation while ensuring compliance?

The removal of these coins from Binance represents a significant development in the cryptocurrency landscape, with implications that go beyond the immediate impact on the affected projects.

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If you’re looking for the latter, it’s time to start considering cryptocurrencies with the potential to blow up in the next few months. While the term “cryptocurrency to blow next” has become a catchphrase for individuals looking to shell projects on the Reddit crypto forum and other crypto-related spaces, you shouldn’t lose hope in it completely.

The cryptocurrencies with the ‘potential’ to blow next are leaders Monero and LooksRare token and newcomer PrivaCrip (PRCR). That said, it is still important to do your research and ensure you’re satisfied with each project before deciding which one/ones to embark on.

Monero (XMR) – The Secure Platform

Monero (XMR) has been a top cryptocurrency in the coin market, albeit with less popularity than it deserves. It’s one of the leading privacy tokens in the crypto market, with a market capitalization that ranks it amongst the top 30 cryptocurrencies on Coinmarketcap. Analysts are optimistic that a good run could see it experience a price surge and attain a deserving popularity level in the coming months. Monero (XMR) is included on 300K+ watchlists.

Monero (XMR) peaked at a market price of over $500 in 2021 before the decline in price due to unfavorable market conditions. It currently sells above the $150 mark, and analysts predict it could exceed the $200 market price towards its previous ATH.

Monero (XMR) launched 8 years ago with the sole purpose of allowing transactions to occur privately and anonymously. It leverages advanced cryptography to achieve this without compromising efficiency and ease of use. The platform enables fast and low-cost transactions without censorship and has made it most users’ favorite for private and secure transactions.

LooksRare Token (LOOKS)

LooksRare Token (LOOKS) is a low-priced cryptocurrency with promising prospects in the crypto market. Experts believe its low price and utility could make it a good buy for patient adopters. LooksRare Token (LOOKS) hit its all-time high (ATH) in January 2022 before experiencing a steady decline due to the bear market effect, which saw it hit an all-time low of $0.1 in Jun 2022.

LOOKS token powers the LooksRare network, a community-centered NFTs marketplace that incentivizes traders’ and creators’ participation. Investors that made entry during its all-time low would’ve gained profitable returns as it rallied above the point within the past two months. Analysts believe it can make a more impressive rally beyond the $1 mark, which will be a huge price surge considering it currently sells slightly above $0.3.

Platform users can earn more LOOKS by trading NFTs on the platform and staking the LOOKS token to earn more. It offers flexible purchases using mixed tokens like WETH and ETH. It is scalable, fast, secure, and easy to use.

Introducing PrivaCrip (PRCR)

PrivaCrip (PRCR) is another privacy token on this list that you should watch out for. PrivaCrip network is a crypto project to ensure optimum data privacy for Blockchain adopters, increasing their trust and acceptance in the novel financial system. The new cryptocurrency comes with governance and incentive utility on the PrivaCrip network.

The open-source protocol features necessary privacy-preserving tools and is a functional alternative to platforms and applications that violate users’ privacy rights. The layer-1 blockchain empowers data tokenization and scalability in private DeFi and boasts a top-tier developing team committed to its growth and development.

PrivaCrip (PRCR) has high adoption potential due to its use cases, features, and community support. It’s set to go on presale, and early adopters can benefit from its presale bonuses. This includes 20% on a $1000 purchase and 45% on a $2500 purchase. You can also earn 15%, 17%, or 10% if you purchase with ETH, BNB, or BTC.

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The new development was announced on August 13th via the official Twitter handle of the blockchain project. According to the report, the success of the network upgrade implies that Monero (XMR) is now more private and efficient.

To make the privacy enhancement possible, the update says a number of new features were introduced, such as ringsize 16, Bulletproofs+, and view tags.

Read Also: First Atomic Swap Providers Surface for Bitcoin-Monero Atomic Bomb on Monero Network

The team also urged users to update their nodes or wallets in order to remain on the network.

Monero tweeted, “Congratulations on a successful network upgrade! Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags! Make sure your node/wallet is updated to continue using Monero. Privacy and fungibility matter, and it’s exciting to keep improving!”

Congratulations on a successful network upgrade! #Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags!

Make sure your node/wallet is updated to continue using Monero.

Privacy and fungibility matter, and it’s exciting to keep improving!

— Monero (XMR) (@monero) August 13, 2022

What the New Features Bring to Monero Network

In a  blog post in April 2022, the Monero team explained that the new “Bulletproofs+” algorithm is capable of reducing normal transaction size and boosting verification performance by 5% to 7%. While View tags are meant to reduce wallet sync times by 30% to 40%.

Unlike Bitcoin and other non-privacy blockchains, privacy coins are cryptocurrencies that power private and anonymous transactions on blockchain by obscuring their origin and destination.

Read Also: CZ Binance Apologizes and Clears the Air after CoinMarketCap Called Ripple’s XRP an Imposter

Privacy protocols, such as Monero, normally hide a user’s real wallet balance and address and mix different transactions with each other to evade normal chain analysis.

As earlier mentioned, among these privacy protocols, Monero (XMR) is the largest in terms of market capitalization. It currently occupies the 28th position in the crypto market.

At the time of filing this report, XMR is trading at $165.78, with a relatively 1% price downtrend in the last 24 hours, according to CoinMarketCap.

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It can be recalled that in May 2021, a BTC-XMR atomic swap went live on the mainnet.

Read Also: VeChain Releases New Version of VeChainThor Mobile Wallet with Price Display Support for VEED Token

Back then, the announcement read as follows:

“XMR <-> BTC atomic swaps are live on mainnet! We’re delighted to see Seth and others working to make them easily accessible such that anyone can swap trustlessly and privately!”

According to a tweet, a Menoro user has become one of the first providers on the Monero network. This implies that all Monero (XMR) users are now liable to perform swaps with the help of a command-line interface (CLI).

Going by the tweet shared by Seth By Privacy, the exchange is provided with a 20% fee that is fondly used in Bitcoin ATMs. With the availability of more swap providers on the network, the community is looking forward to reducing the fee.

Read Also: Van de Poppe Analyzes Possible Bullish Future of Bitcoin (BTC), Ethereum (ETH), Cardano (ADA)

Seth By Privacy noted:

“Just completed my first mainnet atomic swap (as the broker/XMR-seller) with an unnamed Bitcoiner. The process took 34min, was done entirely over Tor, required no interaction by me, and was peer-to-peer with *no* middle-man or custodian. I think I just witnessed the future.

“Second swap completed, 37min to complete and no issues at all. I don’t think I’ve been this excited for a tool in a *long* time. Docs on how to get swapping are almost completed, will share once they’re done and once I decide on a spread %.”

Second swap completed, 37min to complete and no issues at all.

I don't think I've been this excited for a tool in a *long* time.

Docs on how to get swapping are almost completed, will share once they're done and once I decide on a spread %.

— Seth For Privacy (@sethforprivacy) August 17, 2021

Read Also: Celsius CEO: Bitcoin (BTC) Will End 2021 Somewhere in the $140,000-$160,000 Range

Monero (XMR) and Atomic Swaps

Atomic swap is a decentralized way of swapping or exchanging coins without third parties’ inference.

Due to the fact that Monero (XMR) is a privacy coin, atomic swaps were highly anticipated by the community. As aforementioned, users will still be using CLI to swap until when graphic interfaces are ready.

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