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Satis Group Price Analysis: Bitcoin and Monero Biggest Gainers Over 10 Years

Bitcoin (BTC), Monero (XMR)–According to a report by the initial coin offering (ICO) advisory and research firm Satis Group, both Monero and Bitcoin look to be the biggest winners in terms of price gain over the next decade. Satis, which publishes outlooks for both ICOs and current cryptocurrencies, as well as advising on  the forces that will shape the industry, has released a new forecast for the next ten years that puts XMR as the greatest price gainer while predicting XRP to be in for a historic crash.

According to the report, Monero is predicted to have a price appreciation of 38391 percent over the next ten years, bringing the price to a whopping $39,584 (up from its current value of $108 as of writing). The report also predicts Monero having a strong performance over the next year, predicting a four-digit percentage increase in price to bring the valuation of XMR to $1476.

In addition to being bullish on Monero, the new report also finds more profit to be made through Bitcoin, claiming that the number one currency by market capitalization will eclipse it’s previous all time high of $20,000 at some point in the next year to bring the total value of BTC to $32,914. The five and ten year outlook for Bitcoin is equally positive, with the coin poised to hit $96,378 and $143,900, respectively, over the coming decade. Ethereum and Litecoin were also listed in the report with positive gains, however Satis Group predicts neither coin to perform anywhere near as well as Monero and Bitcoin. Litecoin has an expected 10-year price outlook of $225, failing to eclipse December 2017’s all time high, while Ethereum’s outlook is pegged at $588–again failing to retest previous highs.

Interestingly, Satis Group finds XRP to have an overwhelmingly negative outlook, predicting the coin to reach a historic low in investment price. The former product of blockchain startup Ripple and current third overall cryptocurrency by market cap is predicted to be worth a penny in five-year’s time, and less than that over the full decade forecast. XRP, which once traded for as high as $3.84 per coin during the January’s bull run, is expected to continue a slow decline worth up to 90 percent of the current value, a price point that would result in a 99.7 percent decline since the last all time high.

The reasoning behind such a meteoric rise for Monero stems from the belief by Satis Group that anonymity-providing currencies will form the dominant share of the market rather than the current projection towards Dapps. Satis Group finds penetration into offshore deposit markets as the natural extension for the growth of cryptocurrency, making the value of a currency like XMR–which rebuffs censorship and can hide user transaction information–more attractive if the industry shifts towards providing greater privacy services.

Bitcoin also received a positive review from Satis Group, with the company highlighting that the high marketability and brand appeal of the coin would continue to climb with the growing penetration of cryptocurrency into society. Taken from the report,

“Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”

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Monero [XMR] Audit of ‘Bulletproofs’ Improvement Protocol Completed, XMR Up 7% On The Day

Monero Confirms That The First Audit Of ‘Bulletproofs’ Was Successful

The privacy-centric cryptocurrency Monero has recently announced that a third-party has just completed a technical audit for the ‘bulletproofs’ protocol.

For those who are unaware, bulletproofs is a zero-knowledge proof (ZK-Snarks) related improvement protocol that was proposed last December.  An official Monero blog post elaborates on what the improvement entails, noting that bulletproofs allow for cheaper, smaller and faster transactions, and will allow for Monero to scale in a much easier fashion.

There are currently two types of bulletproofs in development, single-output, and multiple-output. The single-output Bulletproof transactions will allow transactions to be 80% smaller on the Monero blockchain, resulting in a subsequent 80% fee rate taken for bulletproof-backed transactions. While multiple-output transactions will result in an even smaller transaction size, and therefore, extremely low fees.

The blog post stated:

Overall, bulletproofs represent a huge advancement in Monero transactions. We get massive space savings, better verification times, and lower fees.

However, over the past six months, this idea was only implemented on the test net, with real-world Monero users not utilizing the benefits bulletproofs provide. But with a recent audit conducted by Kudelski Security, this new protocol is one step closer to being utilized and implemented on the official Monero mainchain.

As with any piece of code, there were a few small errors found by Kudelski, namely four “potential” security issues of “low or undetermined severity. And eight sightings of “general code safety,” most likely being errors of minimal (or zero) damage. Other than those minor issues, the cybersecurity firm did not spot anything too serious, writing:

Although we didn’t find major security issues, the relative complexity of the new protocol combined with the limited set of tests (in particular, without test values) is a potential risk.

To ensure that the audit wasn’t subject to a small error margin, Monero is requesting two more audits before the scheduled upgrade for bulletproofs in September/October. The first will most likely come from the co-author of the bulletproofs concept paper, while the second will be completed by Quarkslab, with both of these coming within the upcoming weeks/months.

The Monero Twitter account discussed the upcoming audits, noting:

Lastly, two more audits (by Quarkslab and Benedikt Bünz) are forthcoming and are supposed to be completed soon.

Once the protocol is deemed viable for the main blockchain, the Monero team will first roll out single-output bulletproofs, then multiple-outputs once ready.

Monero Sees Positive Price Action, Up 7% In The Past 24 Hours 

Monero [XMR] is currently sitting at $132, at approximately 7% up in the past 24 hours.

Monero is currently outperforming Bitcoin and Ethereum by 2.25% and 3% respectively, bringing credence to the thought that Monero may be seeing a price bump due to the aforementioned good news.

However, over the past week, Monero has been down relatively further in comparison with a majority of the top 14 cryptocurrencies, possibly showing that its’ price action is diverging from Bitcoin.

Title Image Courtesy of Kiwi