Part 3/9:
Historically, Bitcoin emerged as a popular choice for anonymous payments, especially in darker corners of the internet. However, as scrutiny of Bitcoin transactions increased, particularly due to their traceable nature, Monero began to gain traction. Unlike Bitcoin, where every transaction is recorded on an immutable blockchain that can be linked back to the original wallet, Monero employs several privacy-enhancing technologies to obscure user identities and transactions.
Why Monero?
Monero's increasing popularity is attributable to its ability to provide true financial anonymity. It utilizes a range of encryption techniques, including:
Stealth addresses that conceal the recipient's identity.
RingCT (Ring Confidential Transactions) that obscure the transaction amount.