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Mordinals, also known as Monero Ordinals, serve as a means to inscribe data alongside transactions stored on the Monero blockchain. This unique feature allows users to include additional information within the Monero network, enhancing its capabilities beyond simple transactional data storage.
The concept of Ordinals was introduced to simplify the issuance of tokens and NFTs on the Bitcoin network. Over the past 30 days, Bitcoin ordinals have gained significant popularity within the crypto sector.

However, this newfound popularity has had a negative consequence, as it has resulted in a noticeable increase in the average transaction fees on the Bitcoin network. The introduction of the Ordinals concept on the Monero blockchain network received mixed reactions.
While a few individuals appreciated this new use case for the Monero coin, the majority of Monero supporters expressed strong opposition, citing potential threats to user privacy.
According to many of these supporters, Ordinals represent a centralized concept.
Moreover, they voiced concerns that if Ordinals were to be implemented extensively on the Monero blockchain, it could pose a significant risk to the privacy of individuals who rely on Monero’s anonymity features to remain anonymous within the network.
Are Concerns Raised Within The Monero Community Justified? 
Criticisms directed at Mordinals bear a striking resemblance to those faced by its Bitcoin counterpart, with an added emphasis on the potential implications for privacy features. To safeguard user privacy, Monero transactions utilize “ring signatures” that combine a transaction with a group of decoy transactions.
However, a potential threat arises if an attacker with sufficient resources were to flood blocks with Mordinals. In such a scenario, it would become effortless to distinguish legitimate transactions from the dummy NFTs, posing a genuine concern for the privacy of users.
The United States Internal Revenue Service (IRS) put forth a substantial reward in 2020 to incentivize efforts in tracking Monero transactions, indicating a demand for conducting such investigations. This fact highlights the existence of a market for targeting Monero’s privacy features.
Potential Repercussions On Decentralization
Another prevalent criticism surrounding Mordinals is its potential repercussions on decentralization. As block sizes expand, the storage demands placed on nodes also increase. Consequently, smaller nodes may be disincentivized from remaining online due to the heightened resource requirements.
While it is possible to upgrade the protocol to enable nodes to prune such transactions, it is important to consider the implications.

Blockchain networks rely on consensus among nodes regarding the network’s state. Filtering out specific blocks or transactions could be interpreted as a form of censorship, potentially undermining the fundamental principles of decentralization.
Monero, unlike Bitcoin, has a dynamic block size, and the idea that Mordinals might cause the blockchain to expand abnormally is a legitimate concern in the community. However, looking at on-chain metrics, it doesn’t appear that blocks are growing wildly faster.
Also, while Mordinals’ impact on privacy shouldn’t be taken lightly, some argue that the risks can be fixed through updates.




Mordinals, also known as Monero Ordinals, serve as a means to inscribe data alongside transactions stored on the Monero blockchain. This unique feature allows users to include additional information within the Monero network, enhancing its capabilities beyond simple transactional data storage. Th...

bitcoinist.com

Monero Community Expresses Privacy Concerns And Criticizes ‘Mordinals’

Monero climbed for a third consecutive session on Thursday, as the token moved marginally closer to a six-week high. This rise in price comes despite the fact that the global market cap mostly consolidated, and is trading just 0.50% higher as of writing. As for LINK, chainlink bulls have so far failed to break out of a key resistance point.
Monero (XMR)
Monero (XMR) was one of Thursday’s notable gainers, with prices climbing for a third consecutive session.
XMR/USD rose to a high of $163.19 earlier in today’s session, which comes a day after the token fell to a low of $155.83.
As a result of the move, XMR moved towards last Sunday’s high at $166.07, which was its strongest point since February 20.

Looking at the chart, today’s move came as monero surged above a recent resistance level at $160.00.
Overall, the surge came as the 14-day relative strength index (RSI) collided with its own ceiling at the 55.00 mark.
At the time of writing, the index is tracking at 54.86, which is its highest reading this week.

Chainlink (LINK)
On the other hand, chainlink (LINK) was mostly lower on Thursday, as the token failed to move above a key price point.
LINK/USD slipped to a low at $7.25 in today’s session — this comes after prices hit an earlier peak of $7.53.
Today’s high saw chainlink move towards its ceiling at $7.55, however bulls were unable to secure a breakout.

From the chart, it appears that the failure to move beyond $7.55 coincided with the RSI falling at a resistance of its own.
As of writing, the index is tracking at 53.16, which is below the aforementioned ceiling at 55.00.
Overall, LINK is now trading at $7.32, with sentiment in today’s session now mostly bearish.
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Do you expect chainlink to move higher in the coming days? Let us know your thoughts in the comments.



Monero climbed for a third consecutive session on Thursday, as the token moved marginally closer to a six-week high. This rise in price comes despite the fact that the global market cap mostly consolidated, and is trading just 0.50% higher as of writing. As for LINK, chainlink bulls have so far f...

news.bitcoin.com

Biggest Movers: XMR Nears 6-Week High, as LINK Falls Near a Resistance Level

Monero jumped to a one-month high on Friday, as overall sentiment in crypto markets remained largely unchanged. The global market cap is now trading 0.60% higher at the time of writing. Xrp was back in the red in today’s session, as traders continued to secure recent gains.
Monero (XMR)
Monero (XMR) has been one of today’s biggest gainers, with prices climbing to a four-week high.
Following a low of $152.16 on Thursday, XMR/USD raced to a peak of $163.10 earlier in the day.
As a result of the move, XMR climbed to its strongest point since February 20, when the token reached a peak of $168.70.

Looking at the chart, the move came as monero rose beyond a key resistance level at the $155.00 mark.
Earlier momentum has somewhat eased, which comes as the 14-day relative strength index (RSI) collided with a ceiling at 58.00
At the time of writing, the index is tracking at 58.84, with XMR marginally lower than its earlier high. It is now trading at $160.65.

XRP
XRP, formerly ripple, extended declines on Friday, as traders continued to secure profits following recent highs.
XRP/USD dropped to a bottom of $0.4246 in today’s session, which comes a day after a peak at $0.4536.
Today’s drop comes three days after XRP hit a peak at $0.4940, which was its strongest point since last November.

This latest decline comes as the RSI fell below a ceiling at the 64.00 mark, and is now tracking at 57.31.
Despite the slip in sentiment, bulls rejected a breakout from a floor of $0.4250, with XRP now trading at $0.4264.
There will likely be another attempt to push prices under this mark, however should this point of support hold, there could be a reversal during the weekend.
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Do you expect xrp to move higher in upcoming days? Let us know your thoughts in the comments.




Monero jumped to a one-month high on Friday, as overall sentiment in crypto markets remained largely unchanged. The global market cap is now trading 0.60% higher at the time of writing. Xrp was back in the red in today&#x2019;s session, as traders continued to secure recent gains. Monero (XMR) Mo...

Biggest Movers: XMR Rises to 1-Month High, XRP Moves 4% Lower


Monero founder Riccardo Spagni has quashed claims that he has been an informant who helped Interpol and other federal agencies trace funds.



Crypto Influencer James Edwards claimed in a thread that Spagni outed himself as an informant for Interpol after U.S. Marshals detained him pending extradition.



Spagni Alleged to Be Interpol Mole



In a tweet on March 20, James Edwards shared reports from 2021. Based on the reports, he inferred Monero founder Riccardo Spagni could be an Interpol informant. 



He said, “Evidence strongly suggests he helped them track Monero.”



Riccardo “Fluffypony” Spagni was captured in the United States in August 2021. The well-known cryptocurrency personality was detained after being accused of crimes that first surfaced in 2009. He was reportedly fleeing fraud charges in South Africa.



Former employer Cape Cookies accused Spagni of fraud by forging invoices. According to court records, Fluffypony allegedly stole $100,000 between October 2009 and June 2011.



Edwards based some of his arguments on this case. Spagni’s attorney postponed the trial and mentioned COVID-19 risks in response to South Africa’s extradition request. Prior to the March 2021 hearing, Edwards alleged that Spagni and his wife fled South Africa. In addition, he claimed that their dread of the virus only prevented them from traveling to South Africa and not to Bermuda. Edwards noted that their journey included an unnatural stopover in the U.S.



Based on the asset tracing requests, Edwards said, “I exposed @mymonero (project founded by @fluffypony) was a “wallet” that stole funds and deanonymized users (en masse).”



Notably, the crypto commentator has used GPT-4 to draw some of these inferences.



Meanwhile, author and analyst Nassim Nicholas Taleb retweeted the assertions. The “Black Swam” author claimed that if Monero’s chief maintainer turns out to be an Interpol informant, his claim that every Bitcoin transaction can be traced could be accurate.



Monero Founder Hits Back Denying Claims



Monero founder ‘fluffypony’ responded to the allegations by calling James Edward “brain dead.” With regard to the allegations, Spagni said, “This nonsense post is unsurprising, coming from a known scammer.”




Imagine being so brain dead that you post this. If you want to track Monero then I recommend viewing the Breaking Monero series that the Monero community & researchers published:https://t.co/NxDR7DrB8WThis nonsense post is unsurprising, coming from a known scammer https://t.co/8Cj36RzwqA— Ric “el pony esponjoso” (@fluffypony) March 21, 2023




He also took a jibe at the influencer for using ChatGPT’s GPT-4 to “analyse” the reports. Denying all claims, the Monero founder said, “At no point have I ever met with and/or helped a law enforcement agency, or a government, or an individual, or a government agency, or a company, or ANYONE to trace Monero.”



The founder defended Monero’s cryptography, saying he could not assist the government with “privileged access.” He said, “I have no privileged access to Monero’s code, GitHub repo, website, Twitter account, DNS records, donated funds, or anything else.”



That said, Spagni agreed on Edwards’ thread that Interpol did ask him for assistance but “never followed up with what they needed assistance with.”



In defense, the founder stated, “They never responded with any details, they never reached out and told me what the request was with. It might not even have had anything to do with Monero, I have literally no idea what it was about.”



According to Crunchbase, Spagni founded Monero in 2014 and registered it in Australia. Monero underwent a hard fork in August last year to bring many privacy upgrades. In October 2022, Monero developers were speculated to be behind an attack on Zcash.



Monero XMR Price Chart by BeInCrypto



At press time, Monero’s privacy-focused coin XMR is trading at $152 after a muted performance this week.
The post Monero Founder Refutes Allegations of Helping Interpol Trace Funds appeared first on BeInCrypto.


Monero founder Riccardo Spagni has quashed claims that he has been an informant who helped Interpol and other federal agencies trace funds.
The post Monero Founder Refutes Allegations of Helping Interpol Trace Funds appeared first on BeInCrypto.


beincrypto.com

Monero Founder Refutes Allegations of Helping Interpol Trace Funds

The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. 
Spagni Challenges Extradition Process
A South African court has dismissed former Monero lead developer Riccardo Spagni’s attempt to have his extradition from the United States to South Africa ruled illegal, a local report has said. In its ruling, the court argued that Spagni had legal representation when he voluntarily waived his rights during an extradition hearing, hence he cannot question the validity of the extradition process.
As previously reported by Bitcoin.com News in July 2022, Spagni, who initially resisted the extradition attempts, eventually agreed to return to South Africa on the condition that his “release on warning had not been cancelled and the state had to cancel it.” This then paved the way for Spagni’s transfer from U.S. custody to South African law enforcement.
However, according to a News 24 report, Spagni had, prior to his departure for South Africa, filed a suit with the SCA which challenged the Western Cape High Court’s handling of the extradition hearing. In the suit, which was initially dismissed, the former Monero developer argued that the extradition request should not have been submitted by the director of public prosecutions.

Spagni’s Moot Argument
In response, the director of public prosecutions reportedly suggested that Spagni’s argument became moot after he was transferred to South African authorities.
“It found that the appellant had failed to make out a case for this court to determine the validity of his extradition process as that would have no practical effect. The appeal was thus dismissed on mootness alone,” a summary of the SCA’s judgment reportedly stated.
Meanwhile, the report suggested also that Spagni’s trial will now continue at Cape Town’s regional magistrate court.
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The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni&#8217;s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue fo...

Monero price	$146.83
Low - High 24H	$145.39 - $147.53
Market cap	$2.66B
Volume 24H	$61.70M
All time high	$542.33 -72.92% January 9th 2018
All time low	$0.216177 67827.37% January 14th 2015
Genesis date	N/A

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