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More private and anonymous cryptocurrencies

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Anonymous cryptocurrencies, as a new financial instrument, offer many advantages to users. In addition to having a online cryptocurrency converter, a significant cost reduction, due to the elimination of the middle part, anonymity is a guarantee of independence, which allows you to carry out 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 activity. This fact has enormous 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 mentioning that the leader of Bitcoin capitalization, in fact, is not as anonymous as the development team shows.

Cryptocurrencies with more privacy:

More private and anonymous cryptocurrencies

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.

1616576780 894 More private and anonymous cryptocurrenciesThe main direction of work was chosen to create the maximum level of anonymity. To achieve this goal, the CryptoNote protocol was developed.

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.

At the end of 2014, the decision was made to change the project’s brand, so the coin acquired a new name – Monero XMR. With this name, the project continues to promote the idea of ​​cryptocurrency anonymity to this day.

Dash

Initially, the currency was called XCoin, then it was renamed Darkcoin (dark currency), which best reflected the main idea of ​​its creators – having complete anonymity. However, the coin gained greater popularity under the name Dash.

1616576780 776 More private and anonymous cryptocurrenciesThe project started in 2014, and talented developer Evan Duffield was behind this decision. Having created more than 10 different options to improve Bitcoin’s anonymity and having received a refusal from his team to change the code, he decided to launch his own project.

It is important to note that in 2016 the cryptocurrency Dash gained popularity in many countries around 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 just 3 years later. It was in 2016 that Zuko Wilcox (CEO of Zcash) declared the project totally open to collaboration. Its creator is the development team of the Zerocoin Electric Coin Company (ZECC).

Using your own Zerocoin protocol allows maximum encryption of all transactions on the network. In addition, 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 complete protection of the personal data of its users, in which the individuality of each one is revealed.

Conclusion

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

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