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Privacy tokens are in high demand: here are the top 3

 


The Russian invasion of Ukraine and subsequent sanctions are expected to lead to an increase in cybercrime. Most of these attacks affect the financial sector and critical infrastructure such as oil pipelines. As a result, demand for privacy coins is expected to increase as Bitcoin has shown its vulnerabilities. Here are the best privacy coins to buy.


Currency

Monero is the oldest and largest privacy token in the world. It uses advanced technologies to ensure all transactions are protected. Users can choose to publish their transactions on the public or private books.


Monero's XMR token has a total market cap of over $3 billion, making it the 41st largest coin in the world. Its price is down just 0.7% over the past seven days, which is a better performance than most coins like Bitcoin and Ethereum.


Still, Monero is at great risk in terms of its security. For one, users of a pool have grown their market share to around 45% in the last few months and there is a likelihood that they will exceed 50%. When this happens, it leads to a 51% chance of attacks, resulting in more vulnerabilities.


Zcash

Zcash is a leading privacy token that has surged in popularity over the past few months. Its token is known as ZEC and has a market cap of over $1.8 billion. While most coins have plummeted over the past seven days, Zcash is up over 13%. Investors believe it has a better chance of dethroning Monero in the industry.


Zcash works relatively simply. First, it allows private transactions, where a z-address transacts with a z-address. It also has a deshielding approach where a z-address interacts with a t-address. Its t-address and z-address interact in what is called a shielded transaction, while a public transaction occurs when t- and t-addresses communicate.


Dash

Dash is another popular privacy token that has become popular with investors. It is a modified proof-of-stake token valued at over $1 billion. Like Zcash, it has been on a strong bull run over the past few weeks as demand for privacy-focused cryptocurrencies has increased.


Dash encourages privacy by design. For example, it uses masternodes to verify transactions, making it faster than Monero. There is a likelihood that Dash price will continue to rise as demand for privacy tokens continues to grow.

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