Secure Crypto Token (SECR) Emerges to Revolutionise Data Privacy Alongside Monero (XMR) & Ontology (ONT)

Web 2.0 and the consequent arrival of social media changed our relationship with both ourselves and other people. The ability to create highly personalised online profiles means that we can learn everything about our date before going on the actual date, portray ourselves in a particular way, and be shown adverts for products we thought we were only thinking about. Yet the Facebook-Cambridge Analytica scandal in 2016 demonstrated that this was merely one side of Big Data’s vast shadow – not only can our data be highly personal and specific, but it can also even be utilised to persuade us into making certain decisions.

Since entering the era of Web 3.0, some cryptos have tried to address the issue of data privacy, as it remains an important and relevant topic today, especially in light of blockchain’s growing popularity. Cross-communication between different platforms will be a key factor in overcoming the limitations of Web 2.0 as we transition to Web 3.0. However, in order to access certain products, services, and content, users still need to prove their identity online. As a result, massive amounts of data will be generated and stored on blockchain networks.

While data stored on the blockchain is far more secure than data stored on centralised servers, Web 3.0 platforms will gradually mimic the characteristics they were designed to disrupt and replace if no full-proof data security solution is in place. Let’s take a look at how Monero (XMR), Ontology (ONT) and newcomer Secure Crypto Token (SECR) aim to solve the issue.

Monero (XMR)

With an immense market cap of around $3 billion, 1 XMR is currently worth $181.99. In terms of 24-hour trading volume, Monero (XMR) is down almost 30%.

Monero (XMR) chose not to have a limited supply for XMR because it was one of the first altcoins that didn’t rely on Bitcoin’s (BTC) code. Unlike other privacy coins, it incorporates privacy into the protocol rather than making it an optional feature or relying on the development and addition of a second layer.

Monero’s (XMR) privacy features distinguish it from competitors not only because they are not optional, but also because of the ways in which they conceal the sender, receiver, and even the amount being sent. Monero’s main privacy features include Ring CTs, stealth addresses, bulletproofs, and Dandelion ++, whereas Zcash (ZEC) primarily uses zero-knowledge proofs, among other features, to add privacy functionality.

Monero (XMR) makes no attempt to follow know-your-customer/anti-money laundering (KYC/AML) procedures and prioritises privacy. This has resulted in it being delisted from a number of exchanges, including BitMEX and Kraken, and it has also landed it in the crosshairs of many financial regulators around the world due to its casual disregard for customer due diligence measures.