Some of the top anonymous cryptocurrencies – Bytecoin, Deeponion, CloakCoin


The cryptocurrency market offers no anonymity any more, and that is not very surprising. The whole idea of Bitcoin, for example, is to allow transparency for people. However, anonymity seems not to be part of the deal these days.

There are certain cryptocurrencies, however, that are completely anonymous at this point.

Deeponion

Deeponion is a digital currency that focuses of privacy. Backed up by around 13,000 users, Deeponion has very special features that make the coin quite popular. According to Zycrypto, Deeponion is a hybrid coin, because it is built on and uses two different algorithms, namely PoS and PoW. Payments made with Deeponion are completely anonymous and cannot be traced. The anonymity feature is owing to TOR network and also some special stealth addresses. A stealth address essentially provides an additional layer of privacy by obliging the sender to establish a unique, one-time address for any given payment or any transaction.

In addition, the Deeponion community decided on the “fate” of the coin by a protocol called VoteCentral, where opinions are shared.

Bytecoin

While Bitcoin may be the very incarnation of decentralization, there is another coin that is even more decentralized in nature: Bytecoin.

Bytecoin is built on the so called technology CryptoNote. The technology is actually built on an open-source public ledger. However, the major difference between the regular ledger and the CryptoNote technology is that with the latest no one can see who is the sender and who is the receiver of the payment. The only thing visible is the amount of money transacted with in the process. So essentially, Bytecoin does not reveal the parties involved and their status.

CloakCoin

Another private coin is CloakCoin. According to Zycrypto, the CloakCoin provides the anonymity through “multi-level protection through the onion-routing system, and transactions’ cloaking using the Enigma mixing protocol, where Enigma Nodes shuffle transaction data with other random data to obfuscate the transactions”.

What is more, CloakCoin allows users to earn around 6% on an annual basis for keeping coins in your digital wallet. It is based on PoS and the transactions made with CloakCoin are fast (around 1 min per transaction).

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Some of the top anonymous cryptocurrencies - Bytecoin, Deeponion, CloakCoin

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