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Monero (XMR) the tenth most valuable coin made headlines this week warning users that the new MEGA Chrome extension has been weakened. This leaves the Monera token vulnerable to theft if users upgrade to this new chrome extension.
However the problem with the announcement of Monero is that the MEGA Chrome extension was developed to reduce page load time and improve browsing speed. This raises the question of the safety of Monera given that the new extension leaves the cryptocurrent susceptible to hacking
Monera has a long history of security breaches, at the beginning of the year. over 150,000 routers were targeted in a massive attack by hackers targeting Monero. There were also stories of malicious malware sent to the user's computer to run Monero's illegal mining operations.
Because Monero is susceptible to hacking attacks
According to cryptographic analysts, cryptocurrency is likely to hack attacks because of its software that runs on Javascript. Because it uses a proof-of-work consent algorithm, the mining software is designed to work well on users' PCs.
The mining Monero is also convenient since, it is not necessary to buy XMR coins to obtain them, technically. However, it is necessary to spend money on the costs of electricity and a good graphics card and / or processor, which causes hackers to produce malware to extract money from unsuspecting computer users.
Cryptojacking is one of these, where a hacker "steals" your computer resources to extract a particular cryptocurrency, usually Monero. Usually hackers do not steal anything from your system but use your CPU and your cryptocurrency graphics card that you would not approve of.
Monero is one of the digital coins used by hackers to encrypt because of its consent to the proof of work Algorithm, which works with PCs
The coin also connects well to Coinhive's Coin Miner, where many of these Mining activities take place and have been used by websites such as The Pirate Bay to extract Monero without the consent of its visitors.
Monero (XMR) still remains a safe currency despite this recent hack history
Monero is popular thanks to its privacy features that guarantee the identity of senders and receivers remain private . Because Monero transactions can not be linked to each other, security hackers typically imply illegal mining and do not hack them directly on user accounts.
The recent survey conducted by Weiss gives credit to this fact since 65% of those interviewed choose Monero as the best secret money. This result shows that Monero is held in high esteem by the community of cryptocurrencies as a digicoin that emphasizes privacy.
Monero with its privacy-based technology solves the problem of double spending and ensures that data entered by users can not be changed after transactions have occurred. This ensures that the problems encountered with the conventional banking services in which the servers are hacked are eliminated.
What Is Monero (XMR)?
Monero was launched in April 2014 and has a market capitalization of about $ 1.8 billion and is currently ranked number 10 in coinmarketcap. Blockchain technology is built on the deceased Bytecoin and is led by a group of seven developers.
Monero is a cryptocurrency that is quite unique compared to Bitcoin and has gained popularity in recent years. Like Bitcoin, Monero (XMR) is a digital currency that can be used to send or receive payments. It is also based on blockchain technology, but uses the CryptoNote algorithm that facilitates extraction on a normal computer.
Privacy features allow a Monero transaction to maintain 100% private sender and receiver identity. Moreover, Monero transactions can not be linked to each other and can not be traced back to their starting point.
This is a strong point in money, but many are concerned that it has been claimed that many criminals and terrorist organizations use Monero to channel funds to manage their illicit organizations. Although no evidence has been established regarding the claims.
In our view, Monero (XMR) still remains the safest currency to execute transactions with its end to end privacy features. However, the blockchain company will have to examine its mining system and make improvements. This would do much to reduce the various security breaches experienced by the crypt.
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