Crypto started over a decade ago, but many investors who have never thought about buying it are now looking closely at their asset classes. Financial Press focuses primarily on the most popular coins, so it’s good to know that there are hundreds of alternative options in the crypto space. Many of these coins have advantages over names like Ethereum and Bitcoin, especially when it comes to privacy.
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Coins’ blockchain technology, like Bitcoin, is intended to be secure and anonymous, but some coins can keep transactions even more private. These inviable and private cryptocurrency coins are digital currencies designed to increase the anonymity and financial confidentiality of users.
This is done by hiding transaction details and using technologies such as ring signatures and stealth addresses to hide transaction amounts and transaction senders and recipients. This makes the transaction untrackable. See how some of these alternative coins achieve this level of security.
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Monero is a private digital currency that allows users to become their own bank. Monero’s security technology hides transactions and users, preventing individual users’ wallet balance and activity from being visible. This separates it from more mainstream coins with transparent blockchains like Ethereum and Bitcoin.
Monero creators say that coins are the only cryptocurrency that anonymizes all users by default. In addition to the identity of the sender and receiver, the amount of all transactions is hidden through three specific technologies: Ring Signature, RINGCT, and Stealth Address. All transactions are private and cannot be tracked.
Zen is Horizen’s native cryptocurrency, which uses Zendoo Technology to enable developers and businesses to create their own public or private blockchains. Zen is an Equihash-based cryptocurrency that offers Z-Addresses and Taddresses, offering two different types of addresses, Z-Addresses and T-Addresses.
Z-address is completely private and anonymous, known as a shielded transaction. T-Addresses are public and transparent and are used to create transactions like Bitcoin on the blockchain. Users can choose the type of address they prefer if they want to control their privacy.
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