Poker has always been a game that satisfies the needs of people who look for fun, profit or entertainment. Because of its complexity, it manages to successfully combine logic, discipline and mathematics while remaining exciting. Clearly, online poker players are permanently looking for the best version of the game – the best website with the most functions, optimal graphics, apps available on iOS, Android and Windows, bonuses and promotions, low fees and regular tournaments. However, people should also be more interested in the currency they’re using when playing poker, as cryptocurrencies offer numerous advantages for their users.
Right now, most players prefer Bitcoin, as it is the most popular cryptocurrency. However, Monero (also known as XMR) has a few unique characteristics that other types of digital money cannot provide. The most relevant one is anonymity – as we all know, most poker players don’t want to be so upfront about their spending, and Bitcoin is unable to provide privacy 100%. This is because, even though everything happens online, the transactions made using Bitcoin remain public, and anyone can figure out where your money is going if they really want to. Although your account isn’t linked to any personal information, it is linked to your wallet. Monero, on the other hand, is a cryptocurrency as well, but it is designed differently.
XMR uses a special kind of cryptography that makes it impossible for people to find your transactions, thus making them untraceable. Sending and receiving addresses or amounts of coin are two processes obfuscated by default. This means that you cannot link transactions on the Monero blockchain to any real identity. Although it sounds far-fetched, it is possible because of the ring signature technology that is used within the cryptocurrency.
Now, the question that comes up naturally is “What does this technology do?”. Well, for starters, a ring signature is comprised of possible signers merged to create a distinct signature that is able to authorize a transaction. It has the actual signer, along with other non-signers and they are all equal. Thus, the real signer is a one-time spend key that is basically the equivalent of an output sent from the sender’s wallet. Past transaction outputs drawn from the XMR blockchain become the non-signers – they are decoys included in the input of a transaction. This is where the anonymity part comes in: all inputs are just as likely to be the output spent.
The best part is that, when you’re making a transaction, it is firstly separated in several other transactions that are smaller, and then the ring signature technology is applied. In this manner, your small transactions are combined with other transactions that have previously been split as well. Knowing this, how could you not prefer Monero instead of Bitcoin when it comes to playing poker, given the fact that it is essentially impossible for anyone to figure out your outgoings? Cryptocurrencies are starting to offer more and more advantages, but if you want to be left alone while playing your favorite game, XMR is your answer.