After delving into the world of cryptocurrencies one can see that good majority of digital asset proponents are big fans of privacy and anonymity. Just recently a spreadsheet document was published that lists the top privacy-centric coins and the various differences between them. The paper called “Privacy Coin Matrix,” allows enthusiasts to see a comprehensive list of cryptocurrency networks that focus on promoting financial privacy.
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Introducing the Privacy Coin Matrix
A Google Docs’ spreadsheet has been recently published on the wide variety of cryptocurrencies that aim to bolster financial anonymity. The paper is very comprehensive and includes various details about each coins’ attributes strewn across a very long spreadsheet. Coins that are present in the ‘Matrix’ spreadsheet include Bitcoin Core (BTC), Monero (XMR), Zcash (ZEC), Dash, Verge (XVG), PIVX, Bitcoin Private (BTCP), and more. There are a total of twenty cryptocurrencies listed, alongside some relatively unknown coins like Zoin (ZOI), and Colossus Coin (COLX). There are a bunch of privacy-centric coins missing from the list as well such as anon tokens like Boolberry (BBR), and Bitcoin Dark (BTCD).
There are fourteen separate sections that distinguish each coin such as the asset’s summary, features, resources, trading, supply and distribution, wallets, and privacy benefits. With each section summarizing the protocols’ features it can give a reader an in-depth look at how much privacy these networks actually give to users. For instance, in the ‘privacy’ section, readers will likely get the most information concerning anonymity methods. Both Bitcoin Core (BTC) and Ethereum (ETH) mentioned in the list fail miserably when it comes to nearly everything privacy related.
Some Coins Offer Very Little Privacy, Scaling is Dependent on Unfinished Second Layer Solutions, and Others Have No Wallet Support
The lists details that other coins such as Monero, Zash, Particl, Bitcoin Private, Zencash, Zclassic, and Sumocoin obfuscate a recipient, and a senders’ transactions with certain features. Anonymity protocols these coins use are methods like ring signatures, stealth addresses, and zsnarks (zerocoin). According to the Matrix spreadsheet many of the other coins mentioned like Dash, and Colossus show no cryptographic privacy, and they depend on techniques like Coinjoin. Further, the list also details whether or not the coins have an auditable supply and a trusted setup.
The coins’ ability to scale is also a section worth reading as it shows which cryptocurrencies have begun to scale through forks, and others waiting on technologies like Lightning to come to fruition. Other technologies mentioned in the scaling section include masternode protocols, bulletproofs, and other second layer options. Lastly, some of the coins mentioned have wallet implementations across most clients created within the industry, while other coins have very little wallet support making utility very difficult for coins like Phore, Zoin, Colossus, Spectrecoin, and Sumokoin.
Matrix List Cuts Through the Anon-Coin Hype
Besides this list, there are more anonymity focused cryptocurrencies in existence that claim to provide significant privacy for users utilizing these networks. However, the Matrix spreadsheet cuts through all the anon-coin hype, headlines, and shilling taking place across the web by separating features, attributes, and facts, into a list of things cryptocurrency proponents care about.
What do you think about the Privacy Coin Matrix spreadsheet? Are there privacy coins that you didn’t see mention in the Matrix list? Let us know your thoughts on this subject in the comments below.
Images via the Matrix, The Wachowski Brothers, and the Matrix spreadsheet.
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Source : Bitcoin