Monero Is Now The Only 100% Anonymous Cryptocurrency

Monero Is Now The Only 100% Anonymous Cryptocurrency

A new blockchain analysis firm has released surprising news about Dash and ZCash. There is only one true anonymous cryptocurrency on the market at this time, and it is Monero.

BlockSci, a new blockchain analysis firm, has successfully traced transaction from beginning to end on both DASH and ZCash. This is bad news for these blockchain projects as their biggest focus and value add is anonymity. Now this is technically gone.

The good news is that they were not able to trace transactions on Monereo. Monereo’s level of anonymity and obfuscation is still impenetrable.

MONERO Is Still 100% Anonymous. 👍

From themerkle.com:

Criminals flocking to other cryptocurrencies may want to think twice about those as well. As BlockSci’s whitepaper explains, there are very few cryptocurrencies which have eluded their scrutiny. One of those currencies is Monero, as it provides a degree of anonymity and obfuscation the group has not been able to crack just yet. Monero is officially labeled an “unsupported blockchain due to it not following the one-input one-output paradigm.” That is an interesting point which shows how Monero may be the only cryptocurrency providing full privacy and anonymity right now.

Some people may wonder how Monero is any different from Dash or even ZCash in this regard. While it is true the latter two cryptocurrencies have focused on privacy and anonymity to a degree, their implementations are far from perfect. BlockSci describes how they successfully traced both ZCash and Dash transactions from beginning to end, regardless of features like PrivateSend. This is anything but good news for people who value these currencies for their privacy or anonymity features.

In reality Dash and ZCash user don’t have to worry much. It would be expensive to hire a blockchain analysis consultant to track transactions on these privacy centered blockchains. Just know it can happen.

We still think Dash and ZCash are great. Even if transactions can be traced, it’s still a blockchain asset protected by cryptography. No one can take your crypto assets without your private key.

About Monero:

Dash Hires Security Team To Analyze And Test The Dash Blockchain

Dash Hires Security Team To Analyze And Test The Dash Blockchain

Dash, the cryptocurrency known for focusing on payments and anonymity, has reached consensus within the Dash community to hire a cyber security team to inspect the Dash blockchain and seek out any possible vulnerabilities.

Dash has choosen to use Bugcrowd. “With a powerful platform and team of experts, Bugcrowd connects organizations to a global crowd of trusted security researchers.”

From Ryan Taylor, Dash Core CEO:

“As Dash gains more mainstream attention, identifying and fixing vulnerabilities is absolutely imperative. Bug bounty programs attract fresh eyes to review code which ensures white-hat hackers help identify any security flaws. Providing strong incentives to attract experienced programmers is one of the many tools we have at our disposal to ensure the Dash codebase is as robust as possible.”

“Our landmark release, Evolution, aims to completely redefine how a digital currency functions and will be available for Alpha testing in December. Providing that optimal user experience requires a massive change to the underlying technology. The more improvements Dash adds to the original Bitcoin code, which Dash is based on, means we will continue to invest heavily in ensuring our product meets the highest standard possible. Because digital currencies store wealth and facilitate the transfer of payments, it is critical that we take all measures possible to make absolutely sure that even minor software bugs are addressed.”

Source: cryptoninjas.net

Did you know that you can mine Dash with Genesis Mining?

Get 3% Off a Genesis Mining Contract

Use our coupon to receive 3% off:

eMogl0
Now Accepting Dash As Payment! & New Dash Shirts!

Now Accepting Dash As Payment! & New Dash Shirts!

We are now accepting Dash for payment of anything in our online store! Including Bitcoin and Dash shirts!

Our Address:

What is Dash?

How is Dash different than Bitcoin?

Dash is completely anonymous, Bitcoin is not. Due to the code, people can’t do reverse look ups on the Blockchain to track patterns and then track transactions on Dash.

To accomplish anonymity, Dash leverages a built in mixing service that hides the chain of the coin’s transactions.

In Dash, there are special nodes called masternodes that mix the coins.

For a transaction on Dash, the following happens:

  • The coins leave the sender’s wallet.
  • The coins then go to a masternode and get mixed up with coins available on the masternode.
  • The coins that go to the recipient are now different than the original coins sent from the sender.

Dash also has instant transactions. A small fee is paid to the masternode and the transaction completes within seconds, without the need for confirmations. Bitcoin is lacking in this regard. Bitcoin transactions are now taking hours as of 3/15/17.

Our new Dash shirts and hoodies:

More on Dash: dash.org

Want to use Dash alongside your other cryptocurrencies? Check out the Exodus wallet. They let you control your keys and store Bitcoin, Ethereum, Dash, Litecoin, & Dogecoin all in one convenient place.

Check out exodus.io

Check out our Steemit post about accepting Dash: Steemit.com