Sadly, there are several reasons why the blockchain community has fallen short in making privacy a tier-one priority, and that must be changed.
Using digital money such Bitcoin and doing any kind activity with it is considered to be absolutely anonymous. Perhaps, there are some seeds of doubt that will help explain the real level of cryptocurrency anonymity.
Firstly, all transactions are registered immediately in the blockchain public network and its users can see money transactions between accounts. It is a complex task to find a user, because all transactions are unnamed, having only special numbers. However, if somebody knows the numbers of one user it becomes easier to find out the others. In order to promote security, all operations have unique numbers. Secondly, the leak of information is possible during hacking attacks during the mining stage. Thirdly, the use of unverified exchanges might be one of the reasons for stolen information. To avoid this, all users should use proven companies, exchanges and platforms.
“Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource exec said.5553
This layer-two protocol says it is bringing cross-chain privacy to digital assets by enabling account balances and transaction amounts to be encrypted.4202
The blockchain network behind anonymity-preserving tools including a messaging app has announced that it is exploring plans to launch a private stablecoin.8672
A privacy coin project wants to offer "full-fledged total control" as regulatory uncertainty surrounding cryptocurrencies continues.3881
It may not have a meme dog or billionaire booster, but a privacy coin protocol is bullish about the value of anonymity.2347
Crypto and blockchain industries need to play by the rules to realize their full potential, Concordium CEO says.10408
The collective's power has been waning in recent years, showing more bark than bite.14481
A privacy-focused blockchain ecosystem brings together anonymous transactions with secure messaging and a low-latency onion router.14930
What do you get when you cross a cat, a Pokémon and an Iron Age warrior? A venture capital fund, of course!30698
With online privacy and the misuse of personal data in the spotlight, a peer-to-peer ecosystem says it champions “individual freedom and liberty online.”10502
The People’s Bank of China intends to enable anonymous digital yuan transactions of small amounts in order to protect “reasonable” anonymity needs.12656
A French project says it is creating a “paradigm shift” in the security of our personal information through the launch of cutting-edge decentralized identifiers.9354
An all-anon team is hoping to realize the long-awaited dream of a flexible DeFi options platform26099
Bitcoin remained the most popular cryptocurrency for the Tor Project’s donors in 2020, followed by altcoins like Ether, Monero and Zcash.6716