Privacy

Originally, it was believed that privacy was an assured feature of legacy blockchains such as Bitcoin. People thought it was impossible to link their offline identity with activity on the blockchain.

The last 12 months have seen a surge of cryptocurrency usage that shadows the last crypto rush of 2017. Mainstream firms are finally starting to tap into the crypto market and trading is the highest ever witnessed, putting exchanges under stress as they struggle with the load.

Hackers broke into hundreds of security-cameras belonging to carmaker Tesla Inc., to gain access to the data collected by Verkada Inc., to prove the pervasiveness of video surveillance, and also expose the vulnerability existing in the walls of cybersecurity of these systems.

Privacy coins have been a quite controversial topic for long. While many users favour them as a way to preserve their privacy, cryptocurrency exchanges and regulators are against them. But do they really pose a threat?

Launched in September 2020, Blender Wallet by Blender.io, a recognized privacy team, represents a new-gen approach to anonymous Bitcoin (BTC) wallets. It merges an unparalleled level of decentralization and an intuitive user interface.

Privacy coins have been the lasting concern of the governments and financial authorities. Their enhanced anonymity features allow to use the coins for illegal purposes such as tax evasion, money-laundering, terrorism financing, drug trading, cryptojacking, etc.

The anonymity of cryptocurrency transactions has been a pain in the neck of most financial regulators. Countries are strengthening their regulation to track those wishing to use digital currencies for illegal purposes. However, the community players are constantly seeking ways to preserve their privacy.

XMR developers announced the release of a new update that would help to preserve and enhance the coin’s privacy feature. According to the Monero blog, the new node software will allow for improvement of transaction size and speed, while still preserving complete anonymity.

A lot of people don’t know the difference between cryptocurrencies, stablecoins, and privacy coins. On one hand, both stablecoins and privacy coins belong to cryptocurrency. However, these kinds of coins possess peculiarities cryptos like bitcoin don’t have.