CryptoURANUS Economics: Anonymous: Defined in CryptoCurrency

CryptoCurrencies


Thursday, August 2, 2018

Anonymous: Defined in CryptoCurrency


Anonymous:
Defined in CryptoCurrency


Anonymous: Defined in CryptoCurrency, is a profile that interacts as an unknown person or group.

Anonymous is easily compare by definition with “pseudonymous” which means acting or done under a false name and-or profile.

This word "Anonymous" is often associated and noted for the "Group Anonymous" that currently recognized for International government being involved in global civil rights violations and the government watch-dogs who criminalize hackers be`it ethical, morale, or otherwise, regardless to international-law-enforcement involvement.


Bitcoin cryptocurrency, which was perceived by many as an anonymous currency, or payment method in its early years, is actually a pseudonymous and not at all an anonymous cryptocurrency.


This lack of anonymity severely hampers the fungibility, [-i.e.: fungibility , In economics, is the property of a good or a commodity whose individual units are essentially interchangeable, and each of its parts is indistinguishable from another part.], of a true currency system but currently, Bitcoin core devs are not paying any heed to this issue.

That is probably because they are too caught up with Bitcoin’s scalability issues.

As a result of that, more and more currencies are mushrooming everywhere and attempting to fix the privacy/anonymity/fungibility issues, but fall sort of the truer anonymous cryptocurrencies which are Monero (XMR), Zcash (ZEC), Dash (DOA), PIVX (PIVX), Zcoin (XZC), Komodo (KMD), NAV Coin (NAV).

Cryptocurrencies started with a decentralized ledger and anonymous transaction features that have changed the paradigm of the global economy as we know it from an idea.

While the world is still divided on the future of cryptocurrency in payments and transactions, cryptocurrencies have made a mark on the world.

But, not all cryptocurrencies provide the level of anonymity that we are looking for.

Some like bitcoin only offers partial anonymity that can be used to a good extent.

We are provided with private keys that are basically the keys to your bitcoin safe but we also have to put in a public key that appears on the blockchain.

In most cases, this public key is an email of the cryptocurrency account holder at the time it is transferred.


Many use anonymous emails and don’t get me wrong, they are effective to a large extent but certainly not anonymous enough for many people.


Cryptocurrency exchanges have also reduced the associated anonymity and people who store their coins in their wallets and servers give up most of their anonymity associated that was an original feature of cryptocurrencies.

Now why do you need anonymous cryptocurrency transactions? What is in it for crypto users to come back to the original focus of cryptocurrencies i.e anonymous transactions?

Why not just stick with just borderless, fast and secure transactions even without the anonymity part?
The reason is control.

Anonymous transactions were the cornerstone of cryptocurrencies for many people.

It allowed them to use their currency or earn it in a way that had no government oversight.
 

If we allow governments and big entities to intrude on this aspect of cryptocurrencies, we are in fact taking the energy out of the much needed change that is needed in free market economics.

We become limited free market cryptocurrencies.

This is why a few new approaches to cryptocurrencies are singling out anonymous transactions as the future of cryptocurrency development.

Yes, they definitely offer more privacy than bitcoin, Ethereum or other cryptocurrencies out there in the market.

With the new upcoming DeepSend feature by DeepOnion this will be one of the most secure and untraceable anonymous cryptocurrencies on the market.

Anonymous-Group is not so hacker safe, nor shall it ever again.

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