📱 To better serve our customers, we are pleased to announce the addition of a new Call Center number, 1518.
For additional information, please find on New Bitkub Call Center Number, 1518

What are privacy coins?

Modified on Sat, 18 Feb, 2023 at 5:30 PM

Bitcoins or cryptocurrency transactions are not anonymous because the blockchain shows the transaction information as it’s one of the most transparent payment methods. However, cryptocurrency coins have many levels of privacy. Privacy coins are opaque coins that people can trade anytime and anywhere while concealing sender and receiver information during a transaction. Moreover, they also hide the user’s wallet addresses, so people cannot link them to the owner’s identity. The outsiders cannot know the user’s wallet activity. For instance, Zcash has two types of coin - transparent and private. It is a fork of the Bitcoin protocol with the addition of a privacy layer via a cryptographic proof called zk-SNARKs (Zero Knowledge Succinct Non-Interactive Argument of Knowledge). Prover can prove the authenticity of a statement without revealing any specific information.

Interested to buy Bitcoin? Check the Market Now: https://www.bitkub.com/market/BTC



Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article