Which Anonymous Cryptocurrency does not Disclose Balances Held or Transaction Records?
Crypto assets are characterized by transparent transactions, but there is also a risk that the contents of transactions can be seen by others. This is where crypto asset that have anonymity were born. By making the contents of transactions between individuals anonymous, transactions can be made without information leakage.
In the crypto asset industry, which has not yet been legalized, it may be used for anonymity currency money laundering. Anonymity currency will be more valuable than the legal system. We will introduce a few anonymity currencies in this article.
Zcash is a crypto asset that launched in 2016, and is known as a representative of highly anonymous crypto assets. Zcash is famous for its zero knowledge proof technology, and as a highly anonymous crypto asset because of this technology.
Zero-knowledge proof is a proof method that is necessary when you want to make the content of a transaction anonymous from the approving node when you want to make the content of the transaction anonymous. This is achieved through the string “hash” in transactions. This way it proves the existence of a hash without exposing the actual hash value. You can find out the original hash value by switching the hash value to another value and continuously asking questions such as the hash modification rule and the hash modified value. This is the mechanism of zero knowledge proof. However, this zero-knowledge proof takes time to process, and the disadvantage is that the wallet that manages cryptographic assets is burdened.
In addition to this zero-knowledge certification, technologies to maintain anonymity such as shield addresses and equi-hash have been introduced with technologies to protect privacy in place. Compared with other crypto assets, “address,” “history,” and “quantity” are all anonymized, resulting in a crypto asset with overwhelming anonymity. Zcash is under development and the number of users is increasing. It is a crypto asset that will be watched as it continues to grow, so you should check the news as you go.
Verge is famous as a highly anonymous crypto asset. Verge can make the “IP address,” “remittance details,” and “sender / receiver information” anonymous. The difference between Verge and other crypto assets that have anonymity is that the Wray protocol being incorporated. The Wray protocol can switch between anonymity transactions and non-anonymity transactions on a blockchain. Therefore, it is possible to deal with both transactions where you want to have anonymity and transactions where you want to have transparency. This technology is not found in other cryptographic assets.
Verge is supported by technologies called ToR and I2P. “ToR” is software for performing anonymous communication, and since the communication path itself is made anonymous, the IP address is completely unknown. However, the communication content is not anonymized, which is useful when you want to publish only the transmission content. “I2P” is a technology similar to ToR, but it is a technology to make the “IP address,” “Sender / receiver information,” and “Remittance details” all anonymous. As a result, it will be communication content where only the party who receives the payment can understand.
Verge has been evaluated by many investors for the existence of the Wraith protocol, and it is a crypto asset that is expected to be low, although it is still low.
The cryptographic asset Beam is still a young crypto asset, and it is a crypto asset with few users. It implements a technology called the “Mimblewimble Protocol,” which is a scalable anonymization technology. The Mimblewimble protocol is a technology that allows you to send money without an address. It does not use the existing address, but it makes wallets work by utilizing a valid character string for a fixed time.
In a normal crypto asset, the sender creates a transaction based on the destination address. However, with Beam, senders and recipients work together to create transactions. When the transaction is included in the block, only the secret formula remains on the blockchain. This makes it possible to finish the transaction on a transaction basis. There is no information left up to this point, so it is impossible to know which wallet has sent money to which wallet. This reduces the amount of information recorded in the block, thus reducing the block size. Therefore, the scalability is also very high.
The “Mimblewimble protocol” is a combination of improved scalability and high anonymity in this way. Other than that, it can be used on desktops and smartphones, so there is no doubt that it is an excellent crypto asset, such as possessing high usability and high versatility.
Through receiving funding from Recruit, one can say Beam has been hyped. Of the anonymous crypto assets, it is no exaggeration to say that it is attracting the most attention now.
QURAS is a crypto asset currently under development and among the blockchain platforms that use a number of smart contract technologies, it is the world’s first crypto asset that has realized anonymous transactions. Anonymous transactions are called secret contracts on the QURAS platform where they have built a highly anonymous system.
It’s no exaggeration to say that blockchain technology is highly transparent and the mechanism for everyone to monitor it is supporting crypto assets. However, on the other hand, there is a view that this blockchain technology causes privacy violation. To solve this problem, they developed the crypto asset called QURAS. QURAS mainly uses two anonymous techniques: Zero Knowledge Proof and Ring Proof. As mentioned earlier regarding “zero knowledge proof,” “ring proof” is used to solve the disadvantage of zero knowledge proof.
Generally, when you transfer encrypted assets, you sign the private key of your wallet and start the transfer process. However, the secret key tells you who sent the money. Ring signature randomly creates a group of several people at the time of the signature, generates a dummy one-time address, and then transfers money from that address. This one-time address is also disposable, so you won’t even know where the money was sent afterwards.
It can also handle storage file sharing functions. Although there are many storage file sharing services already available, QURAS is a distributed service. By making it a distributed storage file service, it is highly resistant to hackings. It is also expected to be active in the financial genre with crypto assets that have other excellent features.
There are many Internet rumors surrounding the crypto saying that it is an MLM, but the reliability of the asset is said to have very high encryption technology.