Analysis and Opinion

Deciphering Anonymous Cryptocurrencies: Are We Ready to Embrace Anonymity?

While we all have talked extensively about the ICO adverts and similar forms of cryptocurrencies, it is important to take a note of the anonymous virtual currencies, in order to understand the existing privacy concerns and diverse security-specific challenges. Firstly, it is important to understand that anonymity in cryptocurrency is a double-faced dagger that has immense benefits and even dramatic pitfalls. At first, it is important to understand that anonymous cryptocurrencies can easily block the mining information while being able to conceal the locational and scalability aspects. Apart from that, user privacy is enhanced with this concept added into the scheme of things.

Next, we move on to the security challenges where anonymity can make way for malware and other kinds of attacks. With malwares attacking systems and associated browsers, it becomes essential to take a note of Cryptojacking and the associated techniques to combat the same. What looks good is that have security services at the helm can seriously help companies stay away from these attacks. Mostly, anonymity doesn’t leave any mining trials; making makes it harder for the regulatory bodies to detect the same. With systems rendered vulnerable, it becomes easier for the cybercriminals to break into the devices and leverage secured information for making associated payments.

About the author

Ashutosh Srivastava

Ashutosh was associated with the print media for the past 19 years. Upon his graduation, he started working closely with Amar Ujala, a newspaper of repute in Allahabad. He was last associated with Dainik Jagran as their Chief Editor where he used to push forth some underrated news pieces for the welfare of the society. His association with OurPlatforms is validated by the fact that Ashutosh has keenly analyzed the crypto-market and the underrated concepts of blockchain technology. His exact job is to visit discussions and meetings; thereby extracting important information about the concerned ICO and associated technologies before coming up with an unbiased opinion.

You can contact him at +919415361503

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