There are many different crypto currencies in the market. Essentially, there are thousands and this number continues to increase day by day.
Not all crypto currencies on the market function the same. There are tokens that are intended to act only as a currency or to provide power to decentralized networks.
Of course there are anonymous crypto currencies based on confidentiality.
Anonymous crypto currencies attracted great interest from the world of blockchain.
These currencies use a variety of encryption methods to keep transactions confidential and greatly protect individuals from a world of transparent blockchain.
Today, we will take a closer look at a few of these anonymous crypto currencies based on confidentiality.
Monero is a peer-to-peer crypto currency that has attracted investors and users since 2014. In 2013, the CryptoNote protocol on which Monero would be based was discovered by a person named Nicolas van Saberhagen.
The crypto currency and associated blockchain were then started by a Bitcointalk forum user named ”thankful_for_today”.
During the launch, Monero’s name was BitMonero. But the community decided to change the name after five days.
Despite its somewhat turbulent past, Monero recorded a huge increase in the market in 2016 and 2017. This increase occurred thanks to a large Darknet market called AlphaBay. AlphaBay, which operates in a similar way as Silk Road, accepted Monero as a payment method, allowing users to buy and sell illegal goods anonymously.
Crypto currencies like Bitcoin do not provide anonymity to users. Bitcoin records the electronic addresses associated with each transaction. Although your name and personal information have not been recorded, if a user establishes the connection between you and your electronic wallet address, you can see a detailed history of all your market transactions.
Monero eliminates this anonymization problem so that all transactions remain completely anonymous.
Zcash has recently become the third digital currency listed after Bitcoin and Ethereum on the Gemini platform, one of the popular crypto currency exchanges.
Zcash has also been one of the most famous crypto currencies on the market for a long time.
Zcash was released in 2016. Other key members of the Zcash team are founder and CEO Zooko Wilcox-O’Hearn, including cryptographer Matthew Green and Roger Ver. Ver, one of the first supporters of Bitcoin, started to support Bitcoin Cash after the hard fork at Bitcoin and became one of the first famous investors of Zcash.
Again, unlike Bitcoin, the transactions recorded in the Zcash blockchain are not public.
With Zcash, users can use an optional privacy feature. This feature not only hides the sender, but can also hide the recipient and the amount of money transferred.
Dash is the latest digital currency in our list of anonymous crypto currencies.
Dash was released for the first time in 2014, making it the oldest crypto currency on our list. Of course, setting off early had some advantages, and Dash made good use of them.
But what makes Dash different from other peer-to-peer currencies and anonymous digital currencies on the market?
One of the most important advantages of Dash is that it is extremely fast, except that it is anonymous. However, the average transaction fee is significantly lower at $ 0.04 per transaction.
Dash is also anonymous. When you use Dash, you do not need to share personal information such as your name and address.
Like Bitcoin and Ethereum, Dash is created through a network of miners. These miners use special hardware and software to solve computer algorithms that protect the Dash network.
Another important strength of the Dash network is its management structure.
When it comes to decentralized networks, management is not always easy. Dash prevents this problem by making sure that the decisions are taken by the network.
Currently, Dash is one of the largest crypto currencies on the market and continues to attract investors from virtually anywhere in the world.