Could you help me please with privacy and security coins?
This chart compares various aspects of security and anonymity with regards to some cryptocurrencies:
- Private: Your finances are not visible to the public. A person looking at the coin's blockchain won't be able to see how much money you have.
- Untraceable: The coins can't be traced through blockchain analysis or blockchain monitoring.
- Secure: All transactions are encrypted and the wallet which holds your funds is encrypted.
- Fungible: All coins are equal and have the same value.
- Decentralized: All nodes (a node is a running instance of the coin's blockchain) of the network are equal. There is no superclass of nodes which have more influence or control over transactions or the system than other nodes.
That is all fine and good. Some of the cited cryptocurrencies (Dash) have false information, as Dash has implemented PrivateSend and a mixing feature, which allows to make coins "fungible". So as far as I'm concerned, the information from this article is questionable because who knows what else is outdated. Also the domain suggest, the author is more concerned about Monero than with any of the other coins.
Monero does not seem to be very secure and anonymous because only after introducing the mixin feature, it is now possible to fully transparently transfer coins. One of the more vocal critics is a researcher for Zcash, however, so these concerns are also questionable. (Reference: You Can Link Monero Transactions – But Which? And What's the Impact?
Zcash is often cited as the most private coin because it's been quoted by Edward Snowden as one of the most interesting technologies in crypto. But what does that mean?
Because Zcash is so private, the Zerocash protocol is so interesting. However it is not the same as the Zerocoin protocol! (Reference: Zerocoin Zerocoin is used by another privacy contender -- PIVX.
Verge uses a similar technology to keep its transactions private. However it's using the Wraith protocol.
So my confusion is really what is the most private and anonymous cryptocurrency right now? An updated table, from the very post, with the coins mentioned here would be ideal. Can anybody from the community help, please?
Dash, PIVX, Verge, Monero, Zcash