Monero is expected to be one of the winners in terms of price gain over the next decade, according to a report published by the Satis Group (Initial coin offering advisory and research firm). It is predicted that Monero will witness an appreciation in price of approx. 38391% over a span of next ten years which will render a rise in its price to make it up to $ 40,000 approx. from its current price of $ 119 (refer Coin Switch for Live Monero Price Chart and to buy Monero with credit card). Even Monero is expected to reflect a strong performance over next year with an increase of 1340% making it rise up to $ 1476.
Now that we know the expected Monero price prediction, we must understand exactly what does it offer and how does it stand apart from the others.
Well, Monero isa leading cryptocurrency with a focus on private and restriction resistant transactions.
On the other hand, most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world. Furthermore, sending and receiving addresses for these transactions may potentially be linkable to a person’s real-world identity.
How does it shield the identity?
Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts.Every Monero transaction, by default, obscures sending and receiving addresses as well as transacted amounts. This always-on privacy means that every Monero user’s activity enhances the privacy of all other users, unlike selectively transparent cryptocurrencies (e.g. Z-Cash).
Kovri is an I2P router written in C++. I2P is a hidden network like Tor with several technical differences. Kovri is an independent project of Monero, but it will work with Monero and several other projects. Kovri hides the transaction broadcast, so other nodes do not know who created transactions. In adversarial conditions, Kovri can be used to hide all Monero traffic through I2P, which would prevent people from knowing Monero is being used. Kovri is currently in alpha, and it is not yet fully integrated in Monero. But once it gets operational, this will obscure a transactor’s IP address and provide further protection against network monitoring.
What is fungibility, and why is it important?
Fungibility is a simple property of money such that there are no differences between two amounts of the same value. If two people exchanged a 10 and two 5’s, then no one would lose out. However, let’s suppose that everyone knows the 10 was previously used in a ransomware attack. Is the other person still going to make the trade? Probably not, even if the person with the 10 has no connection with the ransomware. This is a problem, since the receiver of money needs to constantly check the money they are receiving to not end up with tainted coins. Monero is fungible, which means people do not need to go through this effort. By virtue of obfuscation, Monero cannot become contaminated through participation in previous transactions. This means Monero will always be accepted without the risk of censorship.
From the above discussion we can conclude that Monero holds some distinctive features that even other ace cryptos do not. Which will make it clear exactly why this crypto is expected to witness a skyrocket in its price over a period of 10 years from now. We can not make an exact judgment about its price but a fair idea of its growth will get it going in tough competition for sure.