Davi2118
New member
Security can be measured in a number of ways, but in the crypto space, it isn’t usually viewed from a lens of privacy. Most people have an assumption that Bitcoin and other cryptocurrencies have a high level of privacy, especially in comparison to traditional financial transactions. However, due to the nature of public ledgers on the blockchain, every single transaction is available to view. This has even helped law enforcement to track down illegal activities and exchanges which have been hacked.
From the standpoint of cryptography, Bitcoin is very secure and extremely hard for someone to hack. The record of transactions cannot be changed, and this is what makes Bitcoin incredibly secure. But, since these records can be viewed by everyone, Bitcoin is definitely not the most private cryptocurrency out there.
Because of these, other crypto assets have been created that intend to provide a greater level of privacy. They hide transactions so that they aren’t in public view, and this means payments become impossible for anyone to trace. It is true that these cryptocurrencies can be used for illegal dealings, but the vast majority of transactions will be for regular purposes, and people want this feature simply because they want their privacy to remain protected.
Let’s take a look at which cryptocurrencies are the most secure from a privacy standpoint and explore some of the drawbacks that come with them.
From the standpoint of cryptography, Bitcoin is very secure and extremely hard for someone to hack. The record of transactions cannot be changed, and this is what makes Bitcoin incredibly secure. But, since these records can be viewed by everyone, Bitcoin is definitely not the most private cryptocurrency out there.
Because of these, other crypto assets have been created that intend to provide a greater level of privacy. They hide transactions so that they aren’t in public view, and this means payments become impossible for anyone to trace. It is true that these cryptocurrencies can be used for illegal dealings, but the vast majority of transactions will be for regular purposes, and people want this feature simply because they want their privacy to remain protected.
Let’s take a look at which cryptocurrencies are the most secure from a privacy standpoint and explore some of the drawbacks that come with them.