Privacy Coin | What Is A Privacy Coin | Privacy Coins Explained

🔥Privacy Coin | What Is A Privacy Coin | Privacy Coins Explained

👉👉 What Are Privacy Coins? Privacy Coins Are A Class Of Cryptocurrencies That Power Private And Anonymous Blockchain Transactions By Obscuring Their Origin And Destination. Some Of The Techniques Used In These Anonymous Cryptocurrencies Include Hiding A User’s Real Wallet Balance And Address, And Mixing Multiple Transactions With Each Other To Elude Chain Analysis.

In The Spirit Of Transparency, Bitcoin And Other Non-Privacy Blockchains Allow Anyone To View Public Addresses And Transactions In Their Network, Which Makes It Relatively Simple To Track Someone's Deposits And Withdrawals.

However, Privacy Coins Handle Two Different Aspects; Anonymity And Untraceability. Anonymity Hides The Identity Behind A Transaction, While Untraceability Makes It Virtually Impossible For Third-Parties To Follow The Trail Of Transactions Using Services Such As Blockchain Analysis.

Strategies Used By Privacy Coins

To Effectively Preserve Anonymity And Untraceability, Privacy Coins Employ A Variety Of Different Strategies To Become The Most Private Cryptocurrency, The Most Popular Of Which Include Stealth Addresses, Ring Signatures, Coinjoin And Zk-Snar ks.

Stealth Addresses Require A Sender To Generate A New Address For Every Transaction Sent In Order To Avoid Being Linked To A Receiver. Monero (Xmr), One Of The Top Privacy Coins, Uses A Version Of Stealth Address Called The Dual-Key Stealth Address Protocol (Dksap). Coinjoin Is Known As A Coin Mixer That Merges Transactions From Various Individuals Into A Single Transaction And Then Disburses Them To Their Respective Users Using New Addresses.

Zk-Snarks (Zero-Knowledge Succinct Non-Interactive Argument Of Knowledge) Allow Cryptocurrency Holders To Prove A Transaction's Validity Without Divulging Critical Identifying Information Such As The Parties Involved And The Account Balances.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

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⏰Timestamps⏰ 00:00 Intro 00:28 What are Privacy coin 02:04 Outro ... https://www.youtube.com/watch?v=UC9mnFO3mOA