Cryptocurrency

Coinmetrics: “most cryptocurrency users don’t care about anonymity”

The analytical portal Coin Metrics has released another State of Network report. The authors concluded that users of cryptocurrencies rarely worry about the anonymity of transactions.

According to Coinmetrics, the total volume of transactions for cryptocurrencies with the anonymity functions Zcash, Monero and Grin per day is only 6% of the volume of transactions with bitcoin. And even when users make transactions with anonymous cryptocurrencies, very rarely they use the full capabilities of the tool. For example, in the Zcash cryptocurrency, you can completely protect information about who is transferring what amount. But only 2% of transactions with ZEC are completely secure and anonymous.

“The apathy of users towards the use of anonymity functions remains a major problem. Despite the great technological advances in the field of confidential cryptocurrencies, the introduction of new features and anonymous assets is very slow, ”said analysts at Coinmetrics.

According to the researchers, the adoption of cryptocurrencies is increasing and it is necessary to remember again that they were created for anonymous payments. Otherwise, the idea of ​​anonymous transactions will become a thing of the past. However, in many cases, anonymity functions for popular cryptocurrencies, for example, CoinJoin for Bitcoin, are also suitable.

Wasabi Wallet recently announced that it would replace CoinJoin’s transaction privacy technology with a proprietary development called WabiSabi.

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Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
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