Can Monero be used for privacy-preserving smart contracts?

Started by dapenac921, Jun 03, 2024, 10:52 AM

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Can Monero be used for privacy-preserving smart contracts?

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Monero is primarily known for its focus on privacy and anonymity in transactions. However, unlike some other cryptocurrencies like Ethereum, which natively support smart contracts and decentralized applications (DApps), Monero does not have built-in support for smart contracts.

Monero's primary focus is on providing fungibility and privacy for transactions, achieved through features such as ring signatures, stealth addresses, and confidential transactions. These features ensure that transaction amounts, sender addresses, and recipient addresses are obfuscated, making it difficult to trace and analyze transactions on the Monero blockchain.

While Monero does not support smart contracts in the same way as platforms like Ethereum, there have been discussions and proposals within the Monero community to explore the possibility of integrating smart contract functionality or implementing privacy-preserving features for smart contracts in the future. However, as of my last update, Monero remains primarily focused on privacy and fungibility for transactions, and smart contract functionality is not a core feature of the Monero protocol.

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