More private and anonymous cryptocurrencies

More private and anonymous cryptocurrencies

Anonymous cryptocurrencies, as a new financial instrument, offer many advantages to users. In addition to having an online cryptocurrency converter, a significant cost reduction due to the elimination of the intermediary part, anonymity is a guarantee of independence, which allows to perform financial transactions in the fastest, most reliable and convenient way.

  • Security is also taken to a new level with encryption features that can protect all transactions from fraudulent activities. This fact carries a huge weight for modern users living in the internet age.

  • Due to anonymous cryptocurrencies, the level of efficiency of financial transactions on the network increases. It is worth noting that the leader of Bitcoin capitalization, in fact, is not as anonymous as the development team shows it to be.

  • Cryptocurrencies with more privacy:

    • Monero
    • Dash
    • Zcash

  • Monero

  • Initially, the Monero cryptocurrency was called BitMonero. It was launched as altcoin Bytecoin and is considered the starting point of history on April 18, 2014. The authors of the project were Riccardo Spagni, Francisco Cabanas and a group of five enthusiasts, whose names remain confidential. The team was united by the desire to create a truly anonymous cryptocurrency that could incorporate all the benefits of decentralization.

  • More private and anonymous cryptocurrencies
  • CryptoNote is a protocol for obtaining ring signatures that create the necessary level of anonymity. With their help, both sides (sender and recipient) can be hidden.

  • In late 2014, the decision was made to rebrand the project, so the currency acquired a new name - Monero XMR. With this name, the project continues to promote the idea of the anonymity of the cryptocurrency to this day.

  • Dash

  • Initially, the coin was called XCoin, then it was renamed Darkcoin, which better reflected the main idea of its creators - to rely on complete anonymity. However, the coin gained greater popularity with the name Dash.

  • More private and anonymous cryptocurrencies
  • It is worth noting that in 2016 Dash cryptocurrency gained popularity in many countries of the world, as well as among representatives of large companies and individuals.

  • Zcash

  • The first mentions of the new cryptocurrency appeared in 2013, but it was presented to the general public only 3 years later. It was in 2016 that Zuko Wilcox (CEO of Zcash) declared the project fully open to collaboration. Its creator is the development team of Zerocoin Electric Coin Company (ZECC).

  • Using its own Zerocoin protocol allows for maximum encryption of all transactions on the network. Furthermore, Zcash is included in the list of the largest cryptocurrencies.

  • These cryptocurrencies are the most popular representatives of anonymity.

  • The projects are united by the desire to create a comprehensive protection of the personal data of their users, in which the individuality of each one is revealed.

  • Conclusion

  • Anonymity was and still is the foundation of decentralized technologies. It eliminated intermediation and made financial management open and secure. Supporting truly anonymous cryptocurrencies can be equated to choosing to get rid of government-imposed schemes that are solely beneficial to the authorities.