Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
Here are the five untraceable cryptocurrencies you should be keeping an eye on:
Bitcoin is the first and most well-known cryptocurrency, and it is also the most popular. Bitcoin is decentralized, meaning it is not subject to government or financial institution control. Bitcoin is created through a process called mining. Miners are rewarded with bitcoin for verifying and validating transactions on the network.
Monero is a private, untraceable cryptocurrency. Monero is based on the CryptoNote protocol, which provides an added level of security and anonymity. Transactions on the Monero network are anonymous and untraceable.
ZCash is a privacy-focused cryptocurrency. ZCash is based on the zk-SNARKs protocol, which provides an added level of security and anonymity. Transactions on the ZCash network are private and untraceable.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is based on the blockchain technology.