Anonymous Crypto currencies

What is anonymous crypto?

BTC MONERO
Release date Jan 2009 April 2014
Concept Digital money Untraceable digital money
Transaction details Publicly viewable Concealed from public
Transaction example Alice sent 1 BTC to Bob ? sent ? XMR to ?

What is anonymous crypto?

What is their aim?

  • Privacy: no other party can look at the amount or balance of other individuals by evaluating the blockchain
  • Secure: the technology of irreversible cryptographic math
  • Untraceable: transactions cannot be tracked on the blockchain due to mixing and/or encryption
  • Decentralised
  • Fungible: Due to unknown (prior) transaction history

Monero & PIVX

Monero & PIVX

MONERO PIVX
Consensus algorithm POW POS
Technology RingCT Zerocoin
Hides Sender Address Yes Yes
Hides Recipient Address Yes Yes
Hides Amount Sent Yes No
Private by default Yes No
IP Address Hidden No No
Block time 2 minutes 1 minute
Private Transaction Compute Time 1 second 2 - 3 seconds
Exchanges Bittrex, Poloniex, Binancen Bitfinix & Kraken Bittrex & Binance

Monero Technology

Future of anonymous coins

People don't want

  • Their bank statements to be public
  • Be traced unwillingly for marketing purposes

Future of anonymous coins

Because of their privacy they are a common currency on "The Dark Web"

  • Japan banned anonymous crypto
  • Improved detection tools could identify transactions
  • Algorithms could be cracked in the future

Future of anonymous coins

Most governments claim that privacy is and should be a fundamental right

But at the same time they undermine this principle by

demanding full transparency of your financials