What are the Most Popular Privacy Focused, Traceable Crypto Coins
Today, we will consider the privacy-focused non-traceable cryptocurrencies that cause controversy in the cryptocurrency world.While a certain segment does not trust the privacy feature of these coins; a large segment finds this system rational and reliable and feels closer to itself. So how do these controversial cryptocurrencies survive? And what are these crypto coins? Here are the answers to all these questions…
The first thing that comes to mind when it comes to money focused on privacy is Monero. The crypto money released in 2014 is the fork of Bytecoin.Monero with abbreviation XMR; a new world currency that stands out with its speed, privacy and security. Unlike other cryptocurrencies, Monero users are in a way their own bank; other people cannot see your balance and track your transactions. For this reason, you can safely process and spend money at Monero.
In Monero, public signatures, secret public transactions and secret addresses are used to hide the origin, amount and destination of all transactions. Public signatures are defined as digital signatures that belong to a group or ring, that is, all users with the key. Although everyone in the group has the authority to sign, the identity of the signer is not known. Monero offers all the things a completely decentralized cryptocurrency can promise to its users, without compromising the privacy element waived in other cryptocurrencies.
Starting with privacy concerns, Monero’s code has been completely developed from scratch. So far, dozens of developers have contributed to Monero, they continue to be found. Since wallet addresses cannot be viewed from public blockchain, no one can follow your transactions at Monero. The Kovri project, which provides “network invisibility”, reinforces this situation. It encrypts and routes transactions with Project I2P (Invisible Internet Project) nodes and prevents the network from monitoring you.Monero, whose basic building blocks are quite strong, stands out with its specific features and differs from its competitors. Due to all these features, Monero is defined as a safe currency in the market. The sender, the receiver and the quantity sent in Monero cannot be seen by third parties.
Verge, which was born in the same year as Monero and whose first name is DogeCoin Dark, is an open source cryptocurrency. Its name was changed to Verge in 2016. The cryptocurrency aims to implement a privacy-based transaction policy based on Monero.Verge allows you to take direct action while also considering your privacy. It is possible to make fast, secure and confidential crypto transactions with Verge, which aims to provide quality services to users by bringing users from all over the world with the possibilities of Blockchain technology. In addition, Verge provides flexible payments to businesses or individual users.Verge provides unsigned and secure transactions to cryptocurrency users. Being an open source software, Verge is managed in line with the decisions made in the community. The abbreviation of Verge, which is known not to be funded by any ICO, is XVG.
Verge uses its privacy-oriented networks such as TOR and I2P, allowing its users to perform confidential transactions. Accordingly, the IP addresses of the users are completely hidden so that transactions made using Verge cannot be traced.
Is There A Future For Privacy-Focused Crypto Money?
This is how the most popular privacy-focused coins are. Now let’s talk a little bit about the future of these coins and their positions.As we always say, it would not be right to make sharp comments for the cryptocurrency world. In fact, these interpretations cannot be made for any investment channel and stock market. There may be some conclusions and predictions only from observations. One of these predictions is the possibility of cryptocurrencies with privacy rooms to gain value.
Namely; Cryptocurrencies may have become an important investment instrument, but they are still not official. They have not become a money recognized by states, some countries have forbidden cryptocurrencies with a final decision. The most important reason for this is that they are considered unsafe and viewed as a virtual investment tool.Confidentiality-focused cryptocurrencies can protect people from being virtual while breaking their prejudices about security, eliminating their anxiety and making them easier to invest. Even those who are just starting to invest can earn money the easy way. Being reliable is the most important factor in this ecosystem. All money was created with a high level of security, and it may be in efforts to protect it, but privacy directly supports security.
We don’t know what happens over time. But the experts’ forecasts are that the money focused on privacy will increase and their demands for them will increase.