Bitcoin paved the way for electronic peer to peer currency. It was the first digital currency to
successfully implement a distributed ledger of transactions based on cryptographic proof over trust.
Use of digital currency has since grown at an exponential rate with users valuing privacy,
anonymity, ease of use and low fees to transfer currency anywhere in the world in a fraction of the
time of traditional methods.
Bitcoin however, due to the rapid scale and unforeseen issues, has suffered drawbacks in many of
these areas that users of the currency value.
Fees became too expensive, transaction times too long and flaws were found in the anonymity of
To it’s aid, came a wealth of altcoins that intended on fixing some of these issues. New coins could
move faster and not have to deal with legacy decisions. Most notable of these new currencies was
Monero. A truly anonymous protocol.