Best anonymous cryptocurrency

However, if your main concern is privacy, then this downside should not be an issue. Zcash ZEC Zcash is another untraceable cryptocurrency that uses a unique approach to enhance privacy. This protocol allows users to prove that the information they are transmitting to another party is correct without having to display the actual information.

This is one of the barriers that have hindered the mass adoption of this cryptocurrency. Nonetheless, research and active development are underway to enhance the feasibility of this system. It is a folk of the DASH blockchain. All shielded transactions are near-instant — and the data, including the details of the sender and the receiver, are invisible. PIVX is hailed as the first proof-of-stake crypto to implement the Zercoin protocol that ensures your coin balance is hidden, and this makes it stand out in terms of privacy and anonymity compared to other POS coins.

The source and receiver addresses are hidden, and this ensures their privacy is protected. Once a transaction is complete, its history is well concealed, and no one can trace funds back to their address. It utilizes zero knowledge of proof along with the novel Delayed Proof of Work dPoW protocol to provide users with an extra layer of security as well as full anonymity. The zero-knowledge proof ensures that all transactions within the Komodo platform, as well as the identities of the source and the receiver, are fully private and cannot be accessed by anyone.

Also, this protocol keeps the amount in every transaction private, and only parties involved in it have access. The dPoW adds another layer of data security since it has the ability to recycle the Bitcoin hash rate, thus rendering it unchangeable. Komodo has signed all its blocks on the blockchain network. This makes it nearly impossible for anyone, including investigative agencies and hackers, to hack or alter anything. To tamper with a single historic transaction on the Komodo system, one has to modify the blockchain network, and this is practically impossible.

StealthEX XST Privacy coins protect the data of users while making transactions, but there is another important layer — exchanges. Most custodial exchanges require disclosing wallet addresses, and personal information of the user, and storing the data and funds on the platform. To ensure privacy, you can turn to StealthEX — a non-custodial, private cryptocurrency exchange supporting all the assets mentioned above. The platform does not require KYC and registration to swap the assets and currently supports over cryptocurrencies for swaps and fiat purchases.

It might not be popular, but it has found itself on our list because of the level of anonymity that comes with it. This software is renowned for its ability to encrypt a message in several layers. This cryptocurrency has forked out from Zcash and implemented a better zero-knowledge-proof algorithm for enhanced privacy.

Additionally, it uses 12P to add an extra layer of security and ensure total anonymity of all users and their funds. ZCoin ZCoin is anonymous crypto based on the zerocoin protocol. This coin also ensures cryptocurrency anonymity through other features such as the implementation of the Merkle Tree Proof MTP algorithm that addresses the security centralization issue that major players in the crypto sphere such as Bitcoin are grappling with.

It is made possible by Egalitarian Computing, which prevents miners from getting a competitive edge over the rest of the community. If this setup is corrupted, some quotas believe that some trusted individuals may be able to mint as many coins as they wish without much effort.

Work is in progress to remove this setup in the near future. It stands out as one of the few coins whose privacy feature is default. This coin uses MimbleWimble to protect transaction data. This is a protocol that allows the network to remove transaction data without compromising the stability or security of its blockchain. Despite the fact that it is not as popular as other coins that enhance cryptocurrency anonymity like Monero and Zcash, NAVcoin has stood the test of time and is slowly gaining traction.

The reason why it features on our list is that it takes a unique and simple approach to anonymity, although we cannot ignore the fact that it faces several centralization issues. By inherited I mean they have forked out of Zcash and implemented a better proof of algorithm for security reasons on it.

Also, Komodo is not only for private transactions because they are much more focused on decentralized exchanges, cross chain atomic swaps etc. Hence, it is quite a decent project to look into. Buy Komodo Here 5. Zcoin Zcoin is another unique anonymous cryptocurrency that has implemented the most popular cryptographic approach of anonymous transactions and i. Zerocoin Protocol. I think their intro video is also worth watching as it explains a lot about their project.

This trusted set-up is like trusting a certain group of people to set the initial parameters for the launch of cryptocurrency. The problem, however, is being taken care of by the development team by removing this trusted setup in the near future.

When that happens, Zcoin will be one of the serious coins to count on for privacy. It is precisely because even though their approach to anonymity is unique and simple but still has huge centralized issues. Instead, they use complicated obfuscation techniques with a sub- blockchain in parallel to the main blockchain to become private.

The obfuscation is achieved by NavTech servers which yet not distributed enough. But the NAV team has not given up and is trying to implement NavTech servers in the full node itself which will give this coin the required distribution and decentralization.

As of today, the requirement is 3. But they look to distinguish themselves by focusing on usability for people all over the world by specifically implementing multiple different types of wallets, making sure they are up and running all the time through the use of secure nodes, creating a base layer of shielded transactions to assist in anonymity through those secure nodes.

Verge Verge has adopted a different approach as compared to others to become private and anonymous. Instead, they use Tor and I2P network to achieve their goals. They also have some other unique features such as atomic swaps or fast transactions and some of them are listed in the below infographic.

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