Hello everyone and greetings to my fellow cryptoacademy students. Its such an amazing lecture by our able professor @levycore and am glad to participate in this week's lecture.. This is a post to my homework task.

Create an article for this week's homework with content that covers the following;

Chose a privacy coin and perform a fundamental analysis of the coin in details.

Before I proceed,I will like to explain in my own understanding the term privacy coin.
Privacy coin can be defined as a type of cryptocurrency which tends to hide everything about its users. It has the ability to hide the data,identity,transaction history and current balance in the users wallet,examples which includes dash,beam,grin,monero etc.

Prior to this time in the history of cryptocurrency block chain,transparency has always been the normal order of the blockchain but at a point,the need for privacy arose which leads to the arrival of privacy coin.

From my research,I was able to find out that one of the most important attribute of privacy coin is its ability to keep the user's identity and data anonymous and also making the transaction history of the user untraceable.

With regards to this assignment,I will be discussing the "the monero privacy coin". Monero privacy coin which was released in the year 2014 is one of the most popular privacy coin used so far by many people because of its nature of keeping users anonymous and privatizing their transactions. Transactions carried out with Monero privacy coin are very difficult to trace because it uses ring signature and stealth addresses(stealth addresses are used in carrying out transactions done on cryptocurrencies on a block chain network to prevent a third party having access to the users account).
Also in monero privacy coin,everyone is permitted to carry out transactions but no outsider can observe the transactions,tell the source ,amount or even the destination of a particular transaction.

Statistically,
• It has a market ranked of #26.
• It has a market cap of $4,888,552,714.27.
• It has a trading volume of $304,944,966.07
• It has a market dominance of 0.30%
• And the current price as at the time of my posting is $273.33

< Describe the steps in creating a wallet for the privacy coin of your choice(screenshot required).

The privacy coin of my choice is "monero privacy coin" and to create a monero wallet,the following steps should be applied;

•Type the official website of monero which is http://getmonero.org on your browser then click on download.

• Chose your preferred wallet,for me I choose "mymonero, a type of mobile and light wallet.

• Once you click on Mymonero,it will take you to google play store, then click on download in order to download the app from playstore to your phone.

• Open the app and click on create new wallet.

• Type your desired wallet name and select the color of your choice,then click on next.

• Click on got it,then click on next.

• Copy down the mnemonic words and select your language and click on next.

• Re-insert your mnemonic words accordingly for verification and click on confirm.

• Create in or password you can easily remember and repeat the same pin or password for confirmation and click on next.

***• Congratulations,you've successfully created a monero account.

Explain the reason you chose the privacy coin,(state the advantages and disadvantages).

THE REASON I CHOOSE MONERO PRIVACY COIN.

Even though I don't really know much about cry pro currencies,the reason I chose monero privacy coin is because,it has so many wallet inside it which makes it possible for everyone to use the it at ease even with little knowledge just like the "Mymonero" wallet. Also,I chose monero privacy coin because of the fact that it was built mainly to be opaque in nature which is its ability to make transaction details which includes the senders identity and recipient identity and the amount of every transaction anonymous by disguising the addresses used by participants.

ADVANTAGES OF MONERO PRIVACY COIN.

Below are the advantages of monero privacy coin;
• Transactions carried out on monero privacy coin are impossible to link to a person so the security level is very high.
• Transactions carried out on monero privacy coin are impossible to trace.
• In monero privacy coin,it is very much possible for you to chose who sees your transactions.
• The monero block chain has no limit to what transactions you can do with it.

DISADVANTAGES OF MONERO PRIVACY COIN.

Everything that has an advantage also has a disadvantage,below are the advantages of monero privacy coin;
• It can easily be hacked because the transactions are not documented.
• It can easily be used in carrying out illegal transactions.
• Few persons are making use of it which makes it unpopular unlike other coins.

CONCLUSION.

In conclusion,privacy coin is very helpful especially to those who really like having their privacy in the block chain.
I personally will go for the privacy coin because of its level of privacy and security.

Thank you so much professor @levycore for such an amazing lecture and thanks ahead as you go through my homework post.

Written by @ladyofpolicy
For @levycore