What's Are Privacy Coins

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Transcript

00:00What are privacy coins?

00:04Imagine sending money without anyone knowing how much, to whom, or even that you sent it.

00:10That's the power of privacy coins.

00:14While most cryptocurrencies like Bitcoin are pseudonymous,

00:17meaning transactions are public but not directly linked to real identities,

00:22privacy coins take it a step further by making transactions truly anonymous.

00:27Here are a few notable examples.

00:30Monero XMR utilizes ring signatures and stealth addresses to conceal sender and receiver identities,

00:39and ring confidential transactions to hide transaction amounts.

00:44Zcash offers optional privacy through shielded transactions using zero-knowledge proofs,

00:50allowing users to keep transaction details confidential.

00:54Dash provides a feature called Private Send, which mixes transactions to enhance privacy.

00:59These coins are popular among users who prioritize financial privacy, such as individuals in oppressive regimes,

01:08or those concerned about data security.

01:11However, it's important to note that privacy coins have also attracted regulatory scrutiny

01:17to their potential misuse in illicit activities.

01:20Some exchanges have delisted them to comply with local laws.

01:24Privacy coins offer enhanced anonymity in cryptocurrency transactions,

01:29but they come with both benefits and challenges.

01:31For more information on the web 3.

01:32For more information on the web 3.

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01:51Jeremy