A lot of cryptocurrency users are always looking for more privacy or even anonymity when transacting online. The top cryptocurrencies do not provide this functionality, which is why privacy-oriented altcoins tend to do quite well. Below are a few interesting privacy altcoins which not even might be familiar with at this time. There is a lot more competition going on that one might think at first.
Albeit a lot of users initially assumed PirateChain would be another joke coin, the reality is seemingly very different. The project aims to position itself as a private and decentralized blockchain secured by Komodo dPoW. Every ARRR transaction is 100% private courtesy of its core protocol. That protocol cannot be compromised by other users active on the network, which makes PirateChain a very different project altogether.
Under the hood, it is worth noting PirateChain is based on ZCoin. The network should be safe from 51% attacks and double spends thanks to Komodo’s delayed proof-of-work. It is also one of the few privacy altcoins which do not provide users with an option to publicly send transactions. A very interesting alternative in the cryptocurrency world.
Not to be confused with Spectrocoin, SpectreCoin is a project which focuses on privacy and anonymity. Interestingly enough, this project does not require proof-of-work, as it is completely based on proof-of-stake. This allows for fast transaction confirmations, which always benefit the end user. Ultimately, the goal is to build a viable anonymous digital cash ecosystem, albeit there is plenty of work to be done.
To make it all tick, SpectreCoin offers ring signatures to keep transactions private, Tor support, and IP obfuscation. There are also stealth addresses and stealth staking support to take note of. It is a rather ambitious altcoin project, although it is evident the $15m market cap shows there is a genuine interest in what this project can bring to the table….