With a Privacy Coin or digital currency based on privacy, you can do completely anonymous transactions; Something that is not possible in Bitcoin and many other digital currencies. In this article, we will first explain the privacy-oriented digital currencies and then introduce you to the 4 most popular Quinn market.
What is Prius Quinn?
Contrary to popular belief, transactions in Bitcoin, Ethereum and many other digital currencies are not unknown. Although we do not need to provide personal information to conduct transactions in Bitcoin, the blockchain and bitcoin network are completely transparent and a specific transaction or address can be tracked from source to destination.
It is also easy to see how much bitcoin or Ethereum is available, so if the transaction goes through a centralized system (such as an exchange office) and has a personal information system, one can see how much bitcoin a person has and To which addresses did he transact?
So at best we can say that Bitcoin is “semi-anonymous”. Achieving an acceptable level of anonymity in this network is a bit complicated and it can be said that complete anonymity is impossible.
Using Bitcoin Explorer Websites (Explorer) such as Blockchair.com You can track a bitcoin address and all related transactions.
Privacy-driven or “evasive” digital currencies with cryptographic techniques have eliminated the ability to view transaction history and address inventory. Of course, it should be noted that the privacy features of these currencies can vary. In some private coins, such as Monroe transactions, transactions are hidden by default, but in others, such as Horizons, individuals can choose whether or not to have a secret transaction.
Familiarity with 4 digital currencies based on privacy
Let’s take a look at some popular privacy-centric or persistent digital currencies that have several privacy-related features at heart. These digital currencies claim to offer advanced security features or options that help keep users’ identities and activities secret. The following coins are sorted by market value.
1. Monroe (XRM)
Monroe was the largest and most popular privacy-oriented digital currency at the time of writing. The main reason for this popularity is the ability of this digital currency to help anonymously identify users. Monroe transactions are very difficult to track because they use circular signatures and secret addresses. These methods help to hide the identity of the sender and receiver. In addition, secret ring transactions (RingCTs) help you to keep the amount of transactions secret and create more privacy for you.
In the article “What is Monroe?” Read more about this digital currency.
“If Bitcoin is like HTTP for money, it’s HTTPS,” he said. This definition highlights its enhanced security and privacy features. Zikesh uses the Zero-knowledge proof encryption tool and offers participants options to protect their transactions. Zikesh allows participants to complete their transactions without the need to disclose the sender and recipient address. Proof of zero knowledge also obscures the amount of transactions.
To find out more about Ziksh, you can refer to the article “What is Ziksh?” See.
3. Horizon (ZEN)
Horizon provides privately protected Z addresses with public T addresses and works similar to Bitcoin. However, when sending money from Z address to T address, the amount received will be displayed. Horizon benefits from an extensive node network that helps keep users anonymous.
Beam is a security-focused digital currency whose main feature is complete control over your privacy. All transactions are private by default and no other private addresses and information are stored on the blockchain. This digital currency claims excellent scalability due to its dense china block size. Handling, support for online and offline transactions, Atomic Swap, and hardware wallet integration are other features of this digital currency.