In search of Privacy and Anonymity

In search of Privacy and Anonymity


Some projects for the development of anonymity over bitcoin ended up becoming totally independent tokens with their own personality, under continuous growth. In contrast to many who start in this crypto world, it will be surprising to know that the transactions made with Bitcoin are not completely anonymous. These are easily accessible and traceable.

The name of privacy is more common to associate it with names like Zcash, Monero and Dash; These tokens have a common goal and that is to preserve the privacy of users. This sounds interesting but it has many detractors who criticize them from conception to implementation. None of these digital assets escapes from the malicious objectives that institutions manifest and they quickly identify them as mechanisms and channels for money laundering.

I am going to take the words of the US Treasury Secretary Steven Mnuchin when referring to some digital assets that represent a national security risk. In his speech, the definition focused on identifying them as danger "because criminals use them to launder money or finance terrorism."

In currencies like Dash and Zcash, only "0.2% of transactions on the dark web use either of the two cryptocurrencies," study by the RAND Corporation. Private nature calls on the variety of knowledge tests to create greater privacy, hiding sensitive information.

In relation to Monero, its capitalization strength is higher than the previous two, even though it contains a much higher index of suspicious transactions, according to reports, it is still attractive to some users who want to explore a different experience. Monero is a currency that tries to fill an anonymous void that Bitcoin leaves and that fails to penetrate that niche that is not related to any traceability or tracking on the blockchain.

Even when there is another opportunity to exploit a world within this digital evolution, none of these assets escapes from having regulatory problems, especially Monero, attacks and associations with criminal groups, due to their privacy layer, and their scalability, due to their its considerable number of confirmations.

Something is for sure, just as we are seeing a rise in decentralized applications, and the increasingly common denominator of institutional centralization in the crypto world, it is not surprising that privacy is a key element to preserve and both Dash, Zcash and Monero will be those who are at the forefront of this need to cover a future, not so distant and increasingly closer to what is believed.

 

 

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alquimista1501
alquimista1501

I am a Venezuelan, worker, father of a family who fell in love with this crypto world; I love reading news related to the crypto space, from the technological performance to the shape and concept of each currency in this world.


Cryptographic Alchemy
Cryptographic Alchemy

This blog contains my opinions on the world of cryptocurrencies, and how these digital records are the key to the change towards a new future, but that in many cases, we already live in the present. Always remembering that cryptos, and especially Bitcoin, are inevitable.

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