Blockchain

What Edward Snowden Thinks About Cryptocurrencies?

Mr. Edward Snowden had an interview with Peter Van Valkenburgh, the Director of Research at Coin Center where he shared his thoughts about Cryptocurrency market and Bitcoin.

During this interview he reported that he is worried about Bitcoin’s public ledger. For him it’s “devastatingly public”, indicating that being a public ledger in itself is a most significant flaw for Bitcoin. In 2013, he has used Bitcoin to make a purchase of server infrastructure.

When Snowden’s comment wasn’t positive about Bitcoin, his view differs for Zcash and Monero, the two cryptocurrencies continue to be his favorite. Snowden had expressed that Zcash for him is the most interesting currency right now. It is mainly due to the fact that its privacy properties are truly unique. He also was happy to see, that more and more projects are trying to follow the core principles of higher privacy for the end-users.

Zcash marks as the first open cryptocurrency with a capability to completely safeguard the privacy of deals. This is done with the application of the zero-knowledge protocol.

Zcash is an open-source and decentralized cryptocurrency that offers robust and reliable privacy protections. Protected transactions conceal the sender, recipient and the blockchain amount. Zcash showcases total payment confidentiality, while still keeping a decentralized network based on a public blockchain platform. Bitcoin transaction don’t hide the details while Zcash transactions automatically cover the recipient, sender and transaction value details.

Another cryptocurrency that Snowden is enthusiastic about is Monero, which is identified for being one of the leading privacy coins. It is a good option for those who look to have multiple layers of anonymity while making use of cryptocurrencies.

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What Edward Snowden Thinks About Cryptocurrencies?
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