“Zero to Monero” is a technical guide for a private digital currency for beginners, amateurs, and experts.
Justin Ehrenhofer, Regulator compliance analyst, recently spoke about the unique Roadmap of Monero.
Justin recently expressed his concerns over whether someone noticed the compliance concerns of staking. He stated that he needs to research more, however citing: “Interactively participating in a mixing service with unknown participants (regularly and for-profit) is scarily close to the definition of a money transmitter in the US.”
However, a reply to this concern clarified, stating, in all modern conjoin systems which are non-custodial, the money transmission applies only to custodial services and that there is no profit in mixing processes either—further clarified that it occurs only in the staking process. However, Justin, in turn, clarified that he is very familiar with CoinJoin and that he works in cryptocurrency compliance.
Justin stated that it is about accepting value, which he said is more general than Custody. The discussion was further iterated by another participant who stated, Custody is a key part of the definition of a money transmitter talk. And that the user never gives up Custody in any part of the staking process irrespective of whether they are mixing or not.
Justin reinstated, “we will see. Mixing with randos seems riskier to me than opening a lightning channel with randos.” This, in response to a reply that stated when going by “accepting the value,” lightning nodes will also be money transmitters, further stating, in which case the industry is in trouble.
Justin stands by his claim.
Monero (XMR) – Zero To Monero
Sydney Ifergan, the crypto expert, tweeted: “Every investor must understand the transaction lifecycle, security principles, and peer-to-peer architecture of Monero (XMR) or any Blockchain they might be dealing with.”
The “Zero to Monero” provides a clear introduction into blockchains and the importance of privacy. This is considered to be ideal for non-technical users. It also provides a discussion on the shortcomings of Bitcoin and the specific solutions facilitated by Monero supported by user stories, analogies, examples, legal and ethical discussions, code snippets, and illustration of other key concepts.
Newer developments like Kovri, Bulletproofs, Multisignature, Hardware wallets etc., are also clarified and therefore is good for curious users who are new and would like to understand the Monero ecosystem lot better quickly.
Institutions and individuals who are looking at effective privacy solutions would want to understand what Monero XMR is all about.
