Topic: What are privacy coins in a decentralized industry? (Read 128 times)

Actually as needed, you will use privacy coins or not. because what I know is that someone sometimes has the priority of high-level anonymity. privacy coins are not very popular or few use because they tend to be only needed by a handful of people. very different from BTC, ETH etc. that we know today are very commercial. someday privacy coins do indeed have potential for the future, the main reason for the scope of crypto was created to maintain privacy and decentralization. but for privacy coins themselves use blockcahin technology with the structure of keeping a person's privacy so that they cannot track it. for the investment portfolio problem I only recommend that you choose with a very active team, because as I know all privacy coins are not much different.

There is difference between privacy coins and decentralized coins, BTC is a decentralized coin and people are using it till date, the only problem with privacy coin is because of its usefulness for illegal entities, moreover this is the reason it was built in the first place, to give full privacy

Privacy coins have the purpose of personal confidentiality transactions, that means to cover or protect information to the public and I think this is part of the security aspect. The first time I knew privacy coins were monero and to this day I still use them. I honestly appreciate the privacy coins, because they are the freedom of each individual in the transaction can be realized, safe and for personal.

I know the public don't care much about privacy coins still I prefer to mix them with other coins in my portfolio because the future is really unpredictable, privacy coins did have potential but people don't care

I generally think that of all the coins which you call private, the only Monero can guarantee minimal decentralization and privacy. I believe that no one will need other coins when everyone understands by what methods it is possible to track wallet owners who will use other coins. but as far as I know, even Monero does not guarantee 100 percent anonymity

The use of privacy coins in the decentralized system should be more likely. Under normal circumstances, there may be people who use them to avoid knowing how much money they have. Also, bitcoin is also available on the dark web, which does not mean it is only useful there. Crypto offers you all kinds of selections, but how you evaluate it depends on you.

Short answer is No. In the early days of bitcoin, the cryptocurrency space was dominated by liberatians who were obsessed with privacy. But the general public is not really interested - look at how much information is shared for free on Facebook!

Developers are wasting their time trying to create more and more privacy coins - the market for those is already crowded (Monero, Zcash and so on) and the target audience is extremely small.

from the name alone we can tell privacy coin is a coin specialized in keeping its user's privacy. there are people who love to do something anonymously or afraid someone is tracking him.

it is not a controversial topic in the cryptocurrency industry because for cryptocurrency enthusiasts, this does not mean much(this can be considered as an innovation in blockchain technology). but for government, this is a whole different story.

They are not really. People mainly dont care about them. But who are those people?  People that bought Bitcoin or other cryptocurrencies just t get rich fast.  People that develop economy for cryptocurrencies or people that use cryptocurrencies are fully aware what are dangers of using transparent ledger cryptocurrencies. It is simple as that. Noting controversial at all.

You sounds like a person from government, a person that really do not understand why privacy coins were created. Why everyone should see for what are you paying? You don´t have your private photos for example? Photos that you are not sharing with others? This is a principle why privacy coins exist.
And about the illegal transactions, american dollar is still the most used currency for illegal activities.

I don't think privacy coin and decentralized coins are completely two different coins. Cryptocurrency is all about both. It so happens that there are certain coins that are focused more on privacy instead of other features as there are also coins that are solidly decentralized as compared to others. But I think most coins have both amount of privacy and decentralized aspects.

To be sincere, almost all the privacy coin we have in the market now are the best in there own way but i like Zcash, Monero and Dash due to there previous performance and how they hold the government threats.
With that been said, i believe privacy coin hold the future to maintain people liberty and i believe privacy coin are just a compensation protocol to make decentralization better but we still can't be sure about the future of privacy coin because of the hatred towards it.

You're missing up thing because been privacy and decentralized of a coin totally belong to different characteristics but if you're talking about privacy coin not to be popular use for daily activities I will slightly agree with you because of the government stance about privacy coin.
Mind you, decentralized coin are the most popular daily used coin i.e we talking about coin like BTC, ETH etc.

If I may choose one privacy coin, I would choose Grin because it uses totally diffrent technology - MimbleWimble and it has similiar community like Bitcoin.
Grin is the first and probably the last altcoin supported by Bitcointalkforum. 

to privacy is to dangerous for underground transaction, i dont think privacy and decentralized coin are popular for daily use,
its only compitable for people that doing illegal transaction on deepweb ( darknet )

I myself do not know the use of the privacy coin, do you know about the use of the privacy coin? Because every product that is produced has a certain value and has a special use or basic use.

Im thinking about if the main role of the privacy coin should be on the decentralized industry and i don't agree if you are saying that will just become a lifeline someday. It has become a lifeline for those who are looking for the high privacy features that will secure their personal transaction and makes it untraceable by anyone.

It's not even the future but that's the reality that already happened.
Privacy coin will not play on the centralized industry which everything must have passed the regulator judgement.

Privacy coins will be useful for those who needed them, they will always be around though, now that regulations is what we need i think not much love will be shown towards privacy coins

Privacy coins are a pretty controversial topic in the cryptocurrency industry. They hide data about their users, and as a result, many powerful entities in the media and government are distrustful of them. However, purveyors of freedom laud these coins, both for their advancements in technology, and for their pursuit of financial freedom from a state or central body. But what are privacy coins in a decentralized industry and why are they important? Let’s take a look at the best privacy coins that you need to know about.

Monero (XMR)
The first on the list of privacy coins is Monero. Monero is likely the most well known example of a privacy coin. Launched in April 2014, Monero (XMR) means money is Esperanto. Monero was originally a fork of Bytecoin, which is a private and untraceable cryptocurrency. Monero privacy coin uses CryptoNote technology, Ring Signatures, Ring Confidential Transactions and Stealth addresses to maintain the privacy of its users. Monero privacy is well celebrated in the industry.

CryptoNote is a form of open-source protocol that allows for increased privacy in crypto asset transactions. While most crypto assets use unchanging signatures as a way to verify transactions, CryptoNote uses Ring Signatures. Ring Signatures bring together a group of signers to form a ring, verifying the transaction and keeping the actual signer anonymous. Stealth addresses hide the receiver of the transaction. There’s no doubt that Monero is one of the best privacy coins out there.

https://www.youtube.com/watch?v=qrUq0v5VgdU

Dash (DASH)
Dash (DASH), formerly known as Darkcoin, was founded in January 2014 out of a fork of Bitcoin. The aim was to offer faster and more private transactions, compared to what Bitcoin was able to deliver. Dash uses a two-tier architecture which powers its blockchain. The first tier is comprised of miners who secure the ecosystem and write transactions to the network. The second is made up of masternodes, who work on instant and private transaction sending, and decentralized governance.

The main features of Dash are:
Instant Send: Immediate transactions.
Private Send: Coin mixing based on the CoinJoin implementation.
Decentralized Governance by Blockchain (DGBB) - A mechanism that allows for the management of funding in the future, and self-governance of the Dash community.

https://twitter.com/kanuuker/status/1199074445706571783

ZCash (ZEC)
ZCash (ZEC) is the first widespread implementation of Zerocash, the cryptocurrency protocol that preceded it. ZCash’s protocol is based on zK-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument). Funds in ZCash can be transparent (public) or shielded (private). The transparency is the same as in Bitcoin, with the same privacy features. Shielded values include a paying key, which is part of the payment address and destination where notes can be sent. This is then connected to a private key, that uses spend notes that are sent to the address - known as the spending key. Basically, a sender can use encrypted output notes to send funds on the blockchain. The receiver then uses the viewing key to scan the network for notes that are addressed to them, and can then decrypt those notes.

https://www.youtube.com/watch?v=4qrZRdQDCLk

So, what are privacy coins in a decentralized industry, and which are the best privacy coins on the market? Unlike coins like Bitcoin, privacy coins are pretty discreet. You can trade Dash, and ZCash on trading sites like eToro, and on most major exchanges.

Privacy Coins: Are they the future?
This list of privacy coins is hardly exhaustive, but they’re all vital to the space. As we move into a future that’s increasingly authoritarian, will privacy coins become more popular? As our freedom is threatened, it’s possible that more people will look to privacy coins as a way to maintain their liberty. So, what are privacy coins in a decentralized industry? They just might be a lifeline someday.

https://itsblockchain.com/what-are-privacy-coins-in-a-decentralized-industry/