Bitcoin Alternative ZCash Offers Anonymity And Law Enforcement Surveillance Protection. newsbtc Bitcoin has often been touted as an untraceable and anonymous digital currency, even though it is neither at its core. Strangely enough, mainstream media has forgotten all about the headlines they wrote until a few weeks ago, as an untraceable Bitcoin alternative has launched. ZCash looks to bring anonymity to the digital currency ecosystem, making it perfect for those who wish to use it on underground online marketplaces.
Also read: Europol Arrests Two Suspects during Bitcoin Ransom Group DD4BC Investigation ZCash Offers Things Bitcoin Never Has [To]
When explaining the difference of ZCash and Bitcoin regarding anonymity, novice users might get confused easily. For those people who have been reading up on Bitcoin through mainstream media articles, they will see it as an anonymous digital currency. However, ZCash is an anonymous alternative version of Bitcoin. The explanation for this is simple: Bitcoin never was, is, or will be, fully anonymous, unless the end user takes the necessary steps to make it so.
ZCash, on the other hand, makes no bones about what this alternative digital currency is trying to achieve. Even though the project has only seen a very early alpha release so far, the plan is to make transactions completely anonymous. Unlike the Bitcoin blockchain, where every transaction can be publicly traced in real-time, ZCash wants to make their project carry the same level of anonymity as cash.
Financial privacy is a double-edged sword, as both consumers and businesses do not want just everybody snooping their transactions. But at the same time, more privacy and anonymity opens up possibilities for money laundering, as is clearly visible in a cash-dominated world. ZCash aims to keep transaction details safe by giving users the chance to disclose as […]
