News Crypto and cryptocurrencies

Dash, Monero and ZCash: it's time for privacy coins

Dash coin - Dash, Monero and ZCash: it's time for privacy coins

One of the trends that are emerging on the market cryptocurrency and the growth of so-called privacy coins. What is it about? In practice, those virtual currencies that have always offered much higher levels of confidentiality than competing currencies.
A feature that has often penalized them in terms of reputation, but which is instead viewed with increasing interest by investors. With excellent results in terms of capitalization on the financial markets.

Dash is leading the group

The privacy coin that is becoming more noticeable in this period is Dash. Since the beginning of the year he has in fact scored a rise in the order of 80%, which looks set to continue in the coming months.
Due to this trend Dash currently stood at 20th place in the ranking of the most capitalized cryptocurrencies, with ample room for improvement according to analysts. A behavior that has also pushed eTorox to add it to his basket of virtual coins.

ZCash in great growth

Also ZCash it has made significant gains in the new year. If it is still quite late in the general classification, being in 26th place, ZEC has nevertheless registered a remarkable one + 30 % within the time frame taken into consideration.
Even more remarkable considering the fact that one was approved at the end of last year mining reform, whose rewards now go only to 80% to the miners, with 8% destined to finance the development plans, 7% to the Electric Coin Company and the remaining 5% to the Zcash Foundation.

Is Monero heading for anonymity?

The third fastest growing privacy coin is probably also the most discussed of the moment. It is indeed Monero, for which there have been rumors for some time of plans aimed at increasing the already considerable levels of privacy even more significantly.
A choice that if on the one hand is very appreciated by users and investors, with one 20% growth since the beginning of the year, on the other hand, it looks set to strengthen XMR's dubious reputation. A fame deriving in particular from the fact that for years now Monero and the cryptocurrency most used on the Dark Webor the part of the Internet where illegal transactions take place, in particular those concerning drugs and weapons.
His 14th place in the general classification could be further improved in the coming months, precisely in consideration of the privacy improvements expected.

Privacy coin: a counter-current opinion

As we mentioned, the subject of privacy is quite enough controversial. According to many cybersecurity experts, privacy coins are a real propellant for the illegal economy. A point of view that seems to embrace the theses of a part of traditional finance, which accuses BTC and Altcoin of being nothing more than a mere tool to clean up dirty capital and foraging operations outside the legislative enclosure.
A thesis which, however, is opposed by Jonathan levin, co-founder and CSO of Chainalysis. Which states that a total level of transparency is not the ideal choice for transactions involving the use of digital assets.
According to him, in fact, if complete anonymity opens the doors to illegal activities that, by definition, cannot be investigated, complete transparency means zero privacy. You must therefore be able to find a balance point in which there is neither complete anonymity, a real instigation to operate illicitly, nor complete transparency, which would turn into potential damage for the interested parties.

Buying Cryptocurrencies? Exchange Binance Binance

Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

Similar posts

Leave a comment

Your email address will not be published. Required fields are marked *

Back to top button