March 28, 2024

About Anonymous cryptocurrencies #Dash #Monero #Zcash

“The anonymity of the Internet, on the one hand, seems to be good, it is democracy, but on the other hand, it arisesthere are a lot of problems because behind these nicknamesit is unknown who is hiding. This is not the year 1937 - say what you want, especially on the Internet, the “black funnel” will not come for you tomorrow. Why hide?“ - Vladimir Vladimirovich Putin

Was wissen Zwei, wisst Schwein is an old German proverb that says, "What two know, the pig also knows."

And its relevance hits the very heart of the financialmarket - in a transaction. All your operations are in full view of your bank, if we try to build a chain of participants, it may include: government agencies, the intermediary sector and, most importantly, fraudsters.

All these gentlemen have the opportunity to use this information, both for your benefit and against.

One could say that many people are not lookinganonymity, neither in financial transactions nor on the Internet. And in general, they are not ready to subject themselves to any changes in the direction of confidentiality. Only until their comfort is disturbed.

The number of annual data thefts is breaking recordsprevious. The word "internet scammers" is increasingly making headlines in the news. A cloud is hanging around the financial industry, people are exposed to hacked e-wallets, credit card data theft and extortion. And this is the price we can pay if we do not start dealing with the confidentiality of personal data, including financial ones.

The first financial instrument that hadthe ability to maintain your privacy and carry out transactions without intermediaries, in the form of payment systems and banks, was Bitcoin. But he did not have such a high level of privacy to remain in the shadow of the state. Bitcoin was good in conjunction with such a service as Dark Wallet, later Bitcoin mixers began to be used, these manipulations made it possible to hide the real data of the sender from prying eyes.

January 2014.On this day, the Xcoin network started working, a new player comes to the anonymous cryptocurrency market. The beginning of the Xcoin network was intended as an improvement on the Bitcoin network, but the developers of the Bitcoin blockchain were not going to make changes to the protocol in order to preserve the original plan of Satoshi Nakamoto. One setback prompted ambitious developer Evan Duffield to launch his network.

The basis of Xcoin was taken from Bitcoin, so ithad a similar growth curve, and the network could scale at the expense of miners. But improving and maintaining the ecosystem alone is almost impossible. So Evan forms a team of enthusiastic developers and begins scaling his network. A few months later, Xcoin changed its name to Darkcoin in order to justify its philosophy and interest the audience. Rebranding plays into the hands of Evan and his team, the popularity of Darkcoin has only increased, the influx of new users is taking Darkcoin to a new level. And in the fall of 2014, it implements the functionality of instant transactions InstantX and this is a direct path to mass use as a means of payment. A year later, Darkcoin once again changes its name and becomes Dash, from the words “digital cash”. The coin prefix is ​​no longer in use and Dash intends to surpass its direct competitor, Bitcoin. Among the interesting facts, we can highlight 2017, after increasing the block size to 2 megabytes and abandoning the Bitcoin fork, the cost of Dash rose to $600, surpassing even Ethereum. Many miners began to rebuild their power to the Dash algorithm, and there was talk in the media about the prospects of this coin. Today, Dash is represented on many exchanges, it is supported by popular wallets, and the network is operational using masternodes and mining. Dash is also used as a means of payment in online and offline businesses. And one could say that this is a great option for anonymous transactions. But….

On the same field with Dash, build their own networkwell-known Monero. Some of the creators of which are Riccardo Spagni and Francisco Cabagnas. In 2014, the Monero network was launched without preliminary mining, at the first stages of its operation, the network was subjected to attacks, which contributed to the improvement of security almost immediately after the launch. Today the network is updated several times a year, which affects its popularity and trust. The technology behind Monero was created long before the advent of cryptocurrencies, in 2001 cryptanalyst Pohn Piverst, Adi Shamir and Yael Tauman developed the protocol, and in 2007 two Japanese cryptographers finalized it. This was the beginning for the Monero cryptocurrency. From some stories about the creation of Monero, one can add the opinion that the developers purposefully combined complex combinations in order to keep the user anonymous. For example, you send 1 monero to your friend, your transaction will be approved by one of the network participants on behalf of the group, but who exactly is not disclosed. Your public address on the Monero network will not give other users the ability to view your balances or find out your transaction history. The transaction amount will also remain hidden using the RingCT technology, this feature has become mandatory since 2017 on the Monero network.

Also in 2017, to hide the sender's ip address in the Monero network, the Kovri project should have been integrated, but this has not happened to date.

But even this fact does not prevent Monero from stayingone of the most anonymous cryptocurrencies. Its capabilities are surpassed by bitcoin mixers, as well as cryptocurrency technologies zcash and dash. Perhaps more serious competitors will be implemented in the future, but Monero also boasts transaction speed and availability on many exchanges.

On October 28, 2016, the third player "Zcash" will appear on the anonymous cryptocurrency market. But a little background.

In 2013, Professor Matthew Green and his graduate students developed the ZeroCash protocol, which will later become the basis of Zcash.

In 2014, the team had an idea to make ZeroCash,as a complement to Bitcoin, but as with Dash, Bitcoin developers and miners declined the offer. And after 2 years of work, the light saw the light of the new anonymous cryptocurrency Zcash, at the conference on the occasion of the new coin, the management and the team talked about its advantage, structure and potential. At the time of the release, the cost of Zcash reached an incredible $ 4,000 per coin, but later the rate stabilized around $ 40. Thanks to its bright start, the anonymous coin quickly conquered the cryptocurrency news outlets, thus making it to the top 10 cryptocurrencies with the largest capitalization. In 2017, JPMorgan enters into a partnership agreement with Zcash, amid this news, the rate soars by more than 80%. At the beginning of 2018, capitalization was already in the region of $ 2.5 billion, with the value of the asset being in the region of $ 600-700. But with the onset of a peak in Bitcoin, the market began a global pullback and hooked on all crypto assets. Zcash has lost in price and already in 2019 its cost was around $ 60, today the cost of Zcash is about $ 110 per 1 coin. Of the features of this cop, several main factors can be distinguished both for an investment asset and for a financial instrument.

  1. At the end of 2020, the remuneration for Zcash miners dropped to 6.25 coins, which in the long term may have a positive effect on its value.

  2. With its anonymity, transfers to Zcash have a low commission, almost zero, and a high transaction speed.

  3. Mathematicians, cryptographers and other scientists, not businessmen, worked on the project. Therefore, Zcash is a really useful tool for financial services.

  4. A modern database of services and wallets allows you to keep Zcash safe

We tried to sort out the market leaders among anonymous cryptocurrencies, but this list will continue and perhaps soon we will pay attention to other interesting projects.