Crime linked to cryptocurrency is taking on an increasingly high profile as law enforcement agencies scramble to deal with a new technology complicating how they operate. But not all coins are created equal.
While bitcoin steals most of the headlines, with wild price swings making and breaking fortunes by the hour, a hard core of extra-secure currencies are starting to worry police forces the world over even more. Two major law enforcement agencies briefing Business Insider named the same currencies when asked what developments in crypto technology worried them the most: monero, zcash and dash.
Monero (market cap $4.5 billion) is a cryptocurrency created in 2014 that uses a harder-to-trace blockchain than bitcoin, and is easier to switch with other units. Zcash (market cap $1.4 billion) was built in 2016 and is not completely private by default, but has features which can flip the currency to a “shielded” variant making it hard to trace.
Dash (market cap $4.9 billion), formerly known as darkcoin, was originally derived from litecoin but has significantly more privacy features. Jarek Jacubchek, a cybercrime analyst at Europol, the unified European police agency, told us: “We can see a quite obvious and distinct shift from bitcoin to cryptocurrencies that can provide a higher level of privacy.”
“So basically, you can achieve a higher level of privacy using these ‘altcoins’, and these altcoins are either using stealth as the basis, like monero. There are also coins like dash that do not have stealth addresses, they have transparent addresses, but they have a mixing process that is part of the protocol.” Read more from businessinsider.com…
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