Bullish Crypto Surges: Monero Hashrate Gains Hit ATH | Coin Insider – Coin Insider

August 8, 2020 By admin

Earlier this week, Monero (XMR) saw an explosion in hashrate gains, experiencing its biggest increase since the network launched in 2014. As shown by Coin Metrics, the hashrate for Monero’s network hit 2.2 GH/s on August 6th, up 0.5 GH/s from 1.67 GH/s  since August 5th.

Banks Should Be “Obliged” To Use Privacy Tokens

According to an official commentary to the Office of the Comptroller of the Currency on National Bank and Federal Savings Association Digital Activities, Coin Center believes that banks should be looking to integrate privacy-focused cryptocurrencies into national systems. Listing Monero, ZCash in conjunction with Bitcoin and CoinJoin for cashless, secure transactions, the organisation pointed out that there is a dire need to add protection and privacy features to banking for the customers. As per the comments:

“Banks have important legal and ethical obligations to protect the privacy of their customers. Banks also have legal obligations to surveil the activities of their customers and, under certain circumstances, report details to regulators and law enforcement… Indeed, because of the need to strike a balance between privacy and surveillance, banks should be free and perhaps even incentivized to use privacy enhancing cryptocurrency technologies.”

Other Cryptocurrencies Seeing Spikes In Activity

While it’s uncertain what might have sent Monero’s hashrate skyrocketing to record gains, the spike does seem aligned with the current trend the industry is facing. Bitcoin, Ethereum, and Ripple – the three
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