Privacy coins, as the name suggests, are cryptocurrencies designed to provide privacy. By maintaining the anonymity of the user, they make it difficult to decipher a wallet’s address. Privacy coins are part of a hugely popular cryptocurrency niche such as Web3 tokens, DeFi tokens, and Metaverse tokens. Crypto expert Will Izuchukwu shares the 5 best privacy tokens under $0.2 to watch.
Dusk Network (DUSK) is at the top of the list of privacy coins
The Dusk Network launched in 2108. It describes itself as a blockchain for programmable and private securities. It is backed by a cutting-edge Private PoS leader extraction-based consensus system and Zero-Knowledge proof.
Some notable features of The Dusk Network are:
- Direct payment certainty: Transactions on Dusk Network are fast. It takes a few seconds to complete and has instant on-chain accuracy.
- Privacy: Full user privacy protects data privacy of decentralized applications and external parties. This is done by Dusk Network, which ensures that it complies with strict regulatory standards.
- General: It is possible for users to leverage Dusk Network’s Blockchain without permission from a trusted authority. The consensus is open to all users with the DUSK token.
Second line project Aeon (AEON)
AEON is open source and completely free without restrictions, according to the information on its website. Open-source, peer-to-peer digital currencies like AEON are slowly being integrated into everyday life. However, the most well-known digital currencies fall short in maintaining the anonymity of their users, making their transactions and balances public.
Some notable features of AEON include:
- Secure: Every transaction is distributed over a worldwide peer-to-peer consensus network. It is also protected by strong cryptography.
- Private: AEON uses a cryptographic system on its Blockchain to transmit money so that no user’s personal information is exposed.
- Untraceable: AEON uses Ring signatures to hide transactions. This makes it more difficult for Blockchain analysis to determine whether funds have been spent.
Third on the list of privacy coins is Ghost Price (GHOST)
Ghost hit the market in 2020. As a decentralized ecosystem, Ghost has a simple purpose: Privacy. A fundamental human right is the ability to transact in trust and anonymity. Ghost uses a Proof-of-Stake (PoS) consensus algorithm. It encourages users to stake their coins on a secure Blockchain and receive rewards. Users with enough tokens in their accounts to qualify for network bonuses receive “Ghost Veteran” status.
Ghost hides network-wide transactions on both the sender and receiver side. It also makes all transaction components private, using advanced encryption. Ghost protects all its users and ensures their financial freedom.
Keep Network (KEEP) fourth on the list
The developers brought the KEEP Network to life in 2017. The project rewards users by securely storing and encrypting personal information on a public blockchain. Accordingly, the KEEP token makes the network unauthorized. It also includes off-chain Enclosures and containers for private data.
The fact that data on public blockchains is public helps Keep to address the major issue hindering blockchain adoption. With Keep it’s now possible for developers to create fully decentralized apps. KEEP is the local working token for the network. The token has a cutoff pattern and dividends. It also provides the Sybil resilience needed for the Keep network to run freely.
Beam (BEAM) is the last in the list of privacy coins
BEAM is a decentralized private finance (DeFi) platform that combines the functionality of two different Blockchain protocols (LelantusMW and Mimblewimble). Users privacy is severely threatened by the discovery that transactions in public blockchain cryptocurrencies can be traced back to their senders. BEAM provides anonymity of transactions to overcome this problem. It is also developing new strategies to improve the security of address balances and user identities.
BEAM keeps user addresses confidential at all times. Accordingly, it never makes it available to any party. Users have full access and control of their privacy by choosing who sees what information and how it is managed. For the most up-to-date and accurate cryptocurrency news and analysis cryptocoin.comDon’t forget to follow
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