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Monero (XMR) has proven its usefulness in terms of transactions while Vechain (VET) is proving the blockchain of choice in the freight transport sector.
The opening days of 2019 saw some improvements in the value of cryptocurrencies after the last December crash. The new year brought optimism to the crypto community, as many coins are expected to release new updates and tests in the first quarter of the year.
One area that is unlikely to change is the anonymous coin industry, where Monero (XMR) leads the group together with VeChain (VET). Both coins were labeled by hodlers as potential solutions for secure and anonymous transactions in 2019.
Monero is sadly known for its almost impossible untraceable operations that at the moment are in 14th place in terms of market capitalization, the currency shows no signs of slowing down in terms of use. It employs ring signatures and invisible addresses that protect transactions and prevent the tracking of users' IP addresses.
Although the currency has been plagued by statements by criminals using money for ransom calls, Monero continues to show that anonymous payments could be the future of cryptocurrency.
Monero (XMR) could prove vital for transactions facing difficult security conditions
The surveillance of citizens' information by different governments has increased in recent years, provoking the repression of activists and reducing freedom of information. Monero is an ideal currency for activists in these countries to use for transactions due to their strict privacy features.
Moreover. the speed of hacking and cyber crime has increased over the course of the century, leading to a high risk of exposure to personal financial details. Monero is ideal for investors who want to keep transactions safe from snoop and hack.
Monero (XMR) has launched updates to address the problem of scalability
One of the main flaws when the analyst talks about money is the lack of scalability that is the result of his emphasis on privacy. Monero took this problem seriously and continued to release updates and implement the most advanced technology to improve scalability.
Monero boasts over 100 developers who are constantly trying to improve the transaction process. The latest update was a success and has improved the speed, the privacy features of the digital currency.
Monero was advertised by cryptoanalysts as a better currency with the ability to remove Bitcoin on top of the stack in the coming years.
VeChain a potential solution for counterfeiting in the commercial market
One of the main problems in global trade is the problem of counterfeiting. Many developing countries have developed unbalanced economies due to weak regulations and inadequate counterfeiting response.
Vechain has emerged as a plausible block chain solution for this problem that addresses global trade with its characteristics. several companies have started using the exclusive RFID technology to track products within the supply chain.
This technology is developed in such a way that the movements of all the products scanned with the technology can be monitored all over the world. in addition, retailers and consumers can verify the authenticity of the products through the use of the Vechain blockchain.
This new system would drastically reduce the number of counterfeits of the particular product in the global supply chain. Vechain has developed its blockchain protocols in the last year to counter the problem of large-scale usability.
Vechain has partnerships with the best organizations
The blockchain company is also a secure blockchain, where transactions can be processed from one end to the other without exposing user information. Vechain has also earned a reputation over the years as a stable currency with its number of partnerships.
The token has made several large partnerships with companies such as Renault, in which it has developed a digital car maintenance booklet. China has also implemented Vechain blockchain solutions to help the population to verify parcels transparently.
These partnerships show that Vechain is positioning itself towards global adoption. The VeChain Foundation also has a group of reliable industry experts who monitor the blockchain project. It is quite plausible that Vechain reaches the score of $ 1 at some point in 2019.
Conclusion
In conclusion, the developers of Monero and Vechain showed the technical and operational know-how that could put the respective coins on top of the pile in 2019.
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