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What is the most PRIVATE Coin?
Its likely, the most anonymous (private) cryptocurrency in the world is a coin you have never heard of, and well that should be a crime. Not for the reason that there is anything wrong with private coins.To get more news about WikiFX, you can visit wikifx official website.
Rather, private and secure is at the core of what makes cryptocurrency what it is. Yet, when it comes to truly private and anonymous transactions, these cryptocurrencies are often hiding in the shadows.
Do you remember when it felt illegal to hold Bitcoin？
Depending on where you live, it may still be. However, for most people in the world, cryptocurrencies have become widely accepted and their use is increasingly becoming more common.
It wasnt that long ago Bitcoin was a bad word and associated with dark and nefarious online transactions. Many years have since passed and fortunately, these opinions have largely changed. Today cryptocurrency transactions are socially acceptable and an increasingly common part of our daily lives.
Yet, Privacy coins still retain their dark and nefariousassociation.
Why are private coins still looked upon with great suspicion？
To answer this question, we first need to take a closer look at the origins and beliefs around the adoption and use of encryption and privacy-enhancing technologies.30 years before Satoshi Nakamoto and Bitcoin, there was the CypherPunk movement. Starting in the 1980s and during the early days of the internet, a small community of individuals came together to advocate the widespread use of strong cryptocurrency encryption and privacy-enhancing technologies for political and social change.
Yet, it wasn‘t until the early 1990s that these beliefs and ideas became more formalized when a small group of individuals came together under the name cypherpunks. It’s from here was born the infamous Cypherpunk Manifesto, as written by Eric Hughes in 1993.（Video: https://youtu.be/Fe6GJu2LMGU ）
“Privacy is necessary for an open society in the electronic age. … Privacy in an open society requires anonymous transaction systems. An anonymous system empowers individuals to reveal their identity when desired and only when desired. This is the essence of privacy. Privacy in an open society also requires cryptography… ”For the simple fact, the ledger on which all transactions are posted too is public. At least that is how Mr. Nakamoto had originally architected it.
A cryptocurrency by function is secure. That is, mathematical formulations are used to verify transactions. Yet, secure doesnt equal private and this is where many cryptocurrencies fall short.
Most cryptocurrency transactions are not considered private because details about the transaction are public, which can include the sending address, receiving address, and transaction amount. |
