8 Crypto Privacy Projects
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These crypto projects are designed to keep your transactions private.
I wanted to write out a list of current cryptocurrency privacy projects. I did not go too far in-depth on any one project but gave a breif overview of what they hope to accomplish. There is a lot of issues surroiunding privacy and blockchains. From what type of algorithm is used, to building private dapps on chain. Which algorithm is immune to 51% attacks or not, and so on. I hope this gives you enough information to become curious about cryptocurrency and privacy. Also, for each project I provided a link to either a wiki page or the project website.
Monero
One of the first blockchain projects to feature privacy as a core feature. Designed to overcome the privacy weaknesses of Bitcoin. With a Bitcoin transaction the amount sent and both the sender and received addresses are reavealed on the blockchain. So Bitcoin transactions can be traced. Something that is not possible with Monero. So Monero has been labelled as a privacy coin.
Another feature of Monero is the mining process. The Monero team has decided to create a mining algorithm that is inefficient on mining rigs such as ASIC miner that cost hundreds or maybe a few thousand dollars. This keeps the mining of Monero tokens in the hands of smaller miners who either cannot afford the larger rigs or do not have the space. You can mine Monero on your laptop with just a CPU.
Beam
The Beam protocol is another crypto currency that is mined better with a CPU or general laptop than a specialized ASIC rig. The Beam team has created a mining algorithm that works best on a CPU. You can download and mine Beam on your computer.
Beam creates private transactions utilizing the Mimblewimble protocol. Mimblewimble protocol also helps make Beam scalable. It is also deflationary which means the number of Beam tokens is set and does not grow.
Zcash
There are two types of transactions on the Zcash blockchain. Those being shielded and transparent. A transparent transaction the addresses involved and amounts transacted are revealed. The shileded transactions are not revealed.
