The First “Crypto-Quake” Just Hit
Part of the allure of cryptocurrencies is the fact that they’re portrayed as completely anonymous.
No dealing with banks. No federal regulations. Just an independent third party verifying transactions.
The thing is that’s not 100% accurate.
Yes, cryptocurrencies are able to provide an alternative avenue for people who value their financial privacy.
But even bitcoin isn’t fully anonymous, since all transactions are stored on a public ledger.
Real Anonymity Means Real Utility
One currency is firmly inserting itself into the crypto-wars and leading the way in fully anonymous cryptocurrencies. The coin has several new privacy features that get it very close to full anonymity.
It’s platform is driven by stealth cryptography that masks the sending address, amount and receiving address for each transaction.
So it’s just as reliable as the blockchain that verifies other crypto transactions. But think of this “coins” ledger as an opaque blockchain.
Even if you found the receiving address of a transaction, you still wouldn’t be able to determine if the sending address was A, B or C. And this particular coin plans to take this one step further. An imminent upgrade — with a technology called the Kovri router — will allow the transactions and IP addresses of its users to be sealed as well.
Heck, even the coin’s launch was stealthy…
No initial coin offering was involved. It also had no pre-mining where developers could mine it before release. It is an open source project with seven designers, only two of whom are known.
That makes it especially attractive to the cryptocurrency community because it remains open source with no corporation behind it.
It sports a better algorithm than its competitors, too. While most cryptocurrencies are designed to be mined using computer graphics cards, this coin’s mining relies on a computer’s processor power.
Why is that important?
Because it makes this crypto-coin more accessible for consumers with ordinary computers.
Coming for the Crown
Bottom line: This “new kid on the block” has the ambition to replace bitcoin as the leading all-purpose cryptocurrency. And it has the tools to do it through better algorithms and more secure anonymity.
As it stands, we’re still doing some data analysis of the viability for soaring profits. As those numbers come we should have something actionable to work with.
But for now know this… This coin’s new approach to the cryptocurrency transactions means that it could very soon be the new “crypto king”!
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