Bitcoin integrates transaction privacy solution

Coinbase CEO Brian Armstrong predicts that in 2020 the Bitcoin network will likely implement a solution thatwill make the transactions of the main cryptocurrency truly private.

Although Armstrong did not talk about any specifictechnological developments, he hinted that in the future, the Bitcoin blockchain should no longer succumb to the analysis of specialized software offered by blockchain analytics firms.

In one of his articles, Armstrong said:

“The dominant network [bitcoin] will integratea confidentiality solution that will replace the current transaction process - just like the https protocol is gradually replacing http when browsing the web. ”

Coinbase CEO @brian_armstrong's 2020 predictions

1. One billion users by 2030

2. A dominant network will integrate a privacy solution

3. Crypto startups will drive non-speculative use cases

4. Dexes will grow but on-ramps will remain centralizedhttps: //t.co/CqeAFhsgkV

- Messari (@MessariCrypto) January 7, 2020

Forecasts by Coinbase CEO Brian Armstrong for 2020:

"1. One billion [cryptocurrency] users by 2030;

2. The dominant network [bitcoin] will integrate a privacy solution;

3. Startups will develop “non-speculative” use cases for cryptocurrencies;

4. There will be more decentralized exchanges, but they will remain centralized [link]. ”

Cryptocurrency Bitcoin has become the first and very successful application of blockchain technology. Now Bitcoin occupies 68% of the market capitalization among all coins.

It should be noted that bitcoin transactionsensure confidentiality only in terms of personal data of users, while the transactions themselves and data on them can be tracked using the appropriate software. Such specialized software helps to track the movement of funds on the blockchain. Law enforcement agencies often resort to the use of such software or services of the respective companies in order to “calculate” the persons involved in certain illegal transactions.

Now many cryptocurrency exchanges and services inthey necessarily implement KYC and AML procedures, and therefore exchanging cryptocurrencies for fiat money (and vice versa) in many cases allows law enforcement agencies to find out information about the initiators of “illegal” bitcoin transactions.

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