New bitcoin rival promises anonymity for online purchases

  • According to Robinson, there is demand for greater anonymity among users of crypto currencies as more and more realize that bitcoin can be traced.
  • “Bitcoin has been accepted by regulators and government because there is some level of accountability,” explained Robinson.
  • Zcash launched last Friday and is currently worth $498 dollars per coin, in comparison to $706 for one bitcoin.
  • Robinson also pointed out that Zcash has been created by a private company, which – while it does not have to rely on the open-source community to develop the currency as with bitcoin — could potentially be sued by governments or regulators in order to reveal information.
  • Zcash uses a technique called “zero-knowledge proofs” to ensure coin exchanges are valid but without revealing extra information to either user.

A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously.
Continue reading “New bitcoin rival promises anonymity for online purchases”

New bitcoin rival promises anonymity for online purchases

New #bitcoin rival promises anonymity for online purchases #Software #Currencies #Crime

  • According to Robinson, there is demand for greater anonymity among users of crypto currencies as more and more realize that bitcoin can be traced.
  • “Bitcoin has been accepted by regulators and government because there is some level of accountability,” explained Robinson.
  • Zcash launched last Friday and is currently worth $498 dollars per coin, in comparison to $706 for one bitcoin.
  • Robinson also pointed out that Zcash has been created by a private company, which – while it does not have to rely on the open-source community to develop the currency as with bitcoin — could potentially be sued by governments or regulators in order to reveal information.
  • Zcash uses a technique called “zero-knowledge proofs” to ensure coin exchanges are valid but without revealing extra information to either user.

A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously.
Continue reading “New bitcoin rival promises anonymity for online purchases”