Monero is outstripping projects with much larger budgets, says Howard Chu

Monero [XMR] is undoubtedly the leading fungible cryptocurrency in the space, with a market capitalization of $1.971 billion. The privacy-centric coin that was launched in 2014 is moving towards a more ASIC-free ecosystem by changing its Proof-of-Work algorithm to RandomX. The shift from its current algorithm, CryptoNight, to RandomX was one of the topics of discussion during the recent Monero Konferenco held in Denver.

In an interview for MoneroTalk, Riccardo Spagni and Howard Chu discussed various topics surrounding the fungible coin. The discussion started with the two talking about the development of the Monero ecosystem over the past few years. On one hand, Spagni stated that he was “pleasantly surprised” with what the Monero community had accomplished in a short span of time. He went on to say,

“I know there have been people along the way who have been frustrated with the lack of progress but I think that just comes down to the misunderstanding of how long open-source software takes to come to boil. And we’ve actually moved in a surprisingly fast pace for open-source software.”

On the other hand, the Founder of Symas Corp. stated that Monero was “outstripping” other projects in the space which have larger budgets, in light of the new features added to Monero. He added,

“[…] I am a little surprised at how far we have come. You know, if you look at the pace of the new features being deployed, we are kind of outstripping a lot of these coins that have much larger budgets […] “

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