The understanding and realization that Bitcoin was not actually anonymous spurred the development of privacy coins.
These cryptocurrencies often tout their capabilities relating to anonymity and privacy, but debates are rampant in the cryptocurrency community as to their actual utility, and if their purported features actually are legitimate.
Keysheet.io compiled a list of some of privacy coin recommendations and listed ways consumers could use them securely.
The Keysheet website lists out a variety of expert curated options for a multitude of cryptocurrencies and related crypto assets. Reviews for coins are aggregated into the ‘Keymeter’, a scoring system that roughly emulates the Rotten Tomatoes’ Tomatometer for film and television.
Monero Is At The Top, Cryptographers Should Love Zcash
Keysheet says Monero tops their list of privacy coins because it is easy to use and also features the best cryptographic guarantees.
Specifically, the Keysheet team points out how the creation of a stealth address with each Monero transaction is a strong cryptographic feature that makes the coin work well. They also note how easy it is for people to start using Monero since it is supported by a plethora of wallets and tools.
For those looking to “participate in the bleeding edge of cryptography,” Zcash is the way to go. Keysheet writes how the coin’s cryptographic elements, specifically Zk-SNARKS, are a unique and cool feature that should be of interest to those in the field.
“Be Wary Of Dash, Ditch Verge”
On the other hand, Dash is not recommended by Keysheet because the Private Send feature is “completely undermined by Dash’s network architecture.”
Keysheet also advocates people stay away from the coin because it has not yet achieved meaningful adoption.
According to Keysheet, cryptocurrency consumers and those interested in privacy coins should give Verge a wide berth. It says the biggest issue with the coin is “all transactions and addresses are publicly indexed on the blockchain.”
While the cryptocurrency has reportedly suffered from from numerous 51% attacks which were started by exploiting codebase bugs. Keysheet says “we don’t recommend using Verge for any purpose.”