FX.co ★ Eight anonymous cryptocurrencies: analysts' observations

According to experts, many cryptocurrencies have a higher level of confidentiality than others. Experts recommend paying attention to the most promising of them.

Monero

Many representatives of the crypto community consider monero (XMR/USD) to be the most protected cryptocurrency. It appeared as a result of another anonymous virtual currency fork - bytecoin. The monero development team constantly includes new features in the project, trying to get ahead of those who want to gain access to personal information. The project is completely focused on confidentiality.

Dash

This cryptocurrency (DASH/USD) loses anonymity to other digital assets, but has a number of features. For example, it has a built-in PrivateSend function, which allows to anonymously send tokens to recipients. The Dash virtual currency is a fork of bitcoin, which includes a number of unique technologies specific to the cryptocurrency No. 1.

Zcash

This cryptocurrency is based on the zk-SNARKs protocol. It is an algorithm that confirms the accuracy of the transmitted information and does not disclose its contents. As a result, all data on the Zcash transactions is in an encrypted form. The Zcash development team (ZEC/USD) does not hide the degree of confidentiality of its virtual currency.

Bytecoin

Bytecoin was created in 2012. Many consider it to be the first protected digital currency. It was previously reported that Monero was formed from it. In every transaction of this cryptocurrency, a unique one-time public key is used. As a result, it is impossible to trace the history of operations with Bytecoin tokens.

Hshare/Hcash

This digital asset is not considered to be completely confidential, but operates on the same principles as other anonymous cryptocurrencies. There are two types of wallets on the Hshare/Hcash platform: black and white. White wallets remain open, and the access to black is limited. To do this, the Hshare developers use a technology based on Zcash.

PIVX

The PIVX cryptocurrency is a branch of Dash and stands for Private Instant Verified Transaction. It is based on the Proof-of-Stake algorithm and is intended to everyday transactions. Unlike its predecessors, such as Zcash or Dash, this cryptocurrency is resistant to faults in the blockchain system, preserving full confidentiality of senders and recipients.

Zcoin

Zcoin is not too well-known in the cryptocurrency world. It uses the Zerocoin protocol to ensure payment confidentiality. The Zerocoin tokens do not have a history of operations. With the help of the so-called "zero-knowledge", coins are not linked to the sender. A recipient of Zerocoin knows that his account has received funds, but does not know a person who sent the payment.

ZenCash

Many believe that this project is something more than an anonymous cryptocurrency. ZenCash includes a platform for content, messaging, and a decentralized autonomous organization (DAO). It is considered to be a variation of the Zclassic cryptocurrency. In the future, the ZenCash developers intend to create a decentralized exchange, banking services, and peer-to-peer insurance. This will increase the anonymity of this project.