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Wednesday, August 24, 2016

Return of the King : Darknet: XMR & ETC [vs] Whitenet: BTC & LTC

MONERO (XMR) - Darknet

Digital currency that is secure, private, and untraceable.
Monero is a digital currency using CryptoNote protocol. The open source reference implementation of CrytoNote was coded from scratch and is not a fork of Bitcoin. Monero was launched on April 18, 2014 (then called Bitmonero). The name means "coin" in the Esperanto language. With Monero, you are your own bank. Only you control and are responsible for your funds, and your accounts and transactions are kept private from prying eyes.


Decentralize Governance.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain - the classic ‘unforked’ version; free from external interference and subjective tampering of transactions.

There are many problems that fester due to centralization and opaqueness; corruption, unaccountability, nepotism, inefficiency and stagnation. Ultimately, centralization leads to fragility; only decentralized systems can stand the test of time. These problems can be only solved by adhering to governance systems that do not rely on a central point of failure. Just like distributed networks and the consensus protocol itself, we believe that only truly decentralized projects can survive in the long run. Ethereum Classic manifests these values by relinquishing control by a formalized central foundation. The only hierarchy is that of transparent meritocracy and mutual reputation. No backroom deals or behind-closed-doors unilateral decision making; just free and open discourse.

BITCOIN (BTC) - Whitenet
What if someone creates a better digital currency?
For now, Bitcoin remains by far the most popular  decentralized virtual currency, but there can be no guarantee that it  will retain that position. There is already a set of alternative  currencies inspired by Bitcoin. It is however probably correct to assume  that significant improvements would be required for a new currency to  overtake Bitcoin in terms of established market, even though this  remains unpredictable. Bitcoin could also conceivably adopt improvements  of a competing currency so long as it doesn't change fundamental parts  of the protocol. 

Can bitcoins become worthless?
Yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

LITECOIN (LTC) - Whitenet
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.


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