Privacy property to make Monero (XMR) the leading target of crypto mining malware in 2019
Aug 14, 2018 at 10:23 AM
In 2018, there has been a lot of reports related to crypto mining malware and 2019 will be nothing better. In fact, according to a recent report, the cryptojacking tendency will increase next year. The report from the Cyber Threatscape cited by Oracle Times state that 2019 will see an increase in crypto mining malware and Monero (XMR) will be the leading target. The reason being its privacy and anonymous transaction features.
It is to be noted that in a recent crypto mining malware infected around 200,000 MikroTik routers in Latin America and had the potential to contaminate more hundred thousands out of the about 1.7 million MikroTik routers all over the world and XMR was the mined cryptocurrency.
See also: Monero [XMR] acceptance for Tor network may push the adoption rate
The reason why Monero (XMR) is the most targeted crypto when it comes to cryptojacking is its privacy feature. Though there are other privacy cryptos too, Monero (XMR) tops the list being the most popular one. The feature allows the transactions to take place on the Monero blockchain anonymously. The distributed ledger does not keep any record on the persons carrying out the transactions.
Privacy coins should be embraced by nations: Weiss Ratings
However, the privacy coin has been praised by a number of crypto enthusiasts previously as well. However, there are some who believe that the privacy coins are increasing crimes on internet. However, in a recent Weiss Ratings blog post written by Martin D. Weiss, PhD and Juan M. Villaverde, that nations should embrace privacy-focused coins like ZCash.
“The same privacy technology that can be used by criminals to obscure and disguise their activities can also be utilized by governments, companies, and citizens to encrypt data and deny access to those criminals,” according to the blog.
See also: Is it a good time to buy Monero (XMR)?
According to Weiss and Villaverde, “Privacy DLT is a technology that can guarantee the anonymity and privacy of voters, precisely what’s essential for secure, democratic elections. Thus, the same kind of Privacy DLT that Zcash uses for shielding transactions can also be used to create a fast, efficient, anonymous, and secure voting system.”
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Originally published at bcfocus.com on August 14, 2018.