100 USDT
Introduction
Privacy is a crucial aspect of the crypto world. Contrary to popular belief, crypto transactions are pseudonymous, not anonymous. While wallet addresses are not linked to names, it’s possible to connect identities to these addresses. As a result, there is a growing demand for privacy in the crypto space.
Oasis Network (ROSE)
Oasis Network is a privacy-centric layer 1 blockchain built on the Cosmos SDK. Its goal is to protect user confidentiality and data privacy. Oasis achieves this by separating consensus and execution layers while maintaining an interface to connect both. This setup allows for secure privacy computations.
Token Details
- Ticker: ROSE
- Launch Date: November 2020
- Max Supply: 10 billion
- Circulating Supply: 5 billion
- Market Cap: $275 million
- Current Price: $0.054489
Key Features
– Preserves data privacy by tokenizing data and giving users control over their data.
– Private digital identity and scalable, private DeFi experience.
– Proof of Stake (PoS) consensus mechanism for security and transaction validation.
– Multiple ‘ParaTimes’ that provide specialized computation linked to the consensus layer.
Mina Protocol (MINA)
Mina Protocol is known for its ultra-lightweight blockchain, weighing only 22kb. It achieves this by creating a snapshot of the latest block and then repeating the process, ensuring the blockchain remains compact.
Token Details
- Ticker: MINA
- Inflation Rate: Gradually decreasing from 12% to 7%
Key Features
– Privacy using zk technology, more specifically zkSNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge).
– Interaction with websites in privacy without compromising user data.
– Private IDs and proof of net worth without revealing wallet address or balance.
Secret Network (SCRT)
Secret Network prioritizes privacy and operates within the Cosmos IBC network. It launched in 2020 and offers a range of privacy-focused apps.
Token Details
- Ticker: SCRT
- Supply: Infinite and inflationary
- Circulating Supply: 207.6 million
- Market Cap: $103 million
- Current Price: $0.499397
Key Features
– All smart contracts (called “Secret contracts”) have privacy as a default setting, encrypting input and output data.
– Privacy-preserving apps including Alter (private messaging), Shade Protocol (DeFi apps), SiennaSwap (cross-chain DeFi platform), and SecretSwap (front-running resistant DEX).
– Native SCRT token for governance and executing secret contracts.
FAQs
What is the difference between anonymous and pseudonymous?
Anonymous means not identified or known. Pseudonymous means using a different name or identity than one’s own. In crypto, transactions are pseudonymous, as wallet addresses are not directly linked to personal identities.
What are zkSNARKs?
Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zkSNARKs) are a type of cryptographic proof that allows one to prove a statement without revealing the underlying information.
What is a snarketplace?
A marketplace where block and SNARK producers can buy and sell SNARK proofs.
Conclusion
Privacy in crypto is becoming increasingly important. Oasis Network, Mina Protocol, and Secret Network are three top privacy coins that offer unique solutions to preserve user confidentiality and data privacy. These coins are available on exchanges like ByBit, making it easier for users to access privacy-focused crypto solutions.
