Security and privacy are among the most attractive features that have attracted people to cryptocurrency and made them extremely popular. These are two of the most sought-after and important components that allow users to protect their identity and keep transactions secret. This is an amazing option in today's corrupt world. These two elements formed the basis of cryptocurrency their identity at the time they first started. Satoshi Nakamoto is an unidentified person and his identity isn't publicly known to anyone outside of the world. He is yet to be recognized.

There's a problem in paradise right now. Privacy is under threat. Bitcoin transactions are able to be anonymous in certain ways, as the open ledger can provide an auditable history of payments for the financial system.

The thing is, on the one hand Bitcoin uses cryptography to hide identities and on the other side, owing to its implications , like visibility by anyone, causes it to raise alarm.

This is why we have taken steps to address this issue. The privacy coin's role can be seen in this context. Privacy coins are part of bitcoin-related cryptocurrencies, where they are used for bitcoin games also, they were introduced to protect privacy.

Why are these coins referred to as Privacy Coins?

Based on the title, these coins were created to provide an element of anonymity, in a decentralized manner. The best privacy coins is a little different. Bitcoin and other cryptocurrencies are not exactly the same as these coins. They all use the same technology of blockchain however, privacy coins are more effective in handling transaction information. This means that Bitcoin transactions are all documented on an Open Public Ledger, which shows that A address sent B an amount of BTC. Even though there is no personal information associated with wallet addresses, it is easy to link addresses to individuals despite the fact that wallet addresses do not contain any names.

Privacy coins permit you to cover up information about recipients and senders when you conduct transactions by through a variety of ways. This guarantees security. Privacy coins hide wallet activity.

The techniques employed by privacy coin are:

* Stealth addresses

* Ring signatures

* CoinJoin

* zk-SNARKS

* MimbleWimble

* Tor

Let's take a look at five of the most sought-after privacy coins currently on the market:

Monero (XMR Monero (XMR) - This coin has been the most used coin in recent years , and consequently the most popular. Monero coins are not traceable, and transactions are not easily traceable. Both the source and the destination are private. It uses the tactic of rings to disguise transactions in the ledger. This is possible using CryptoNight proof of Work technology.

Zcash (ZEC) Zcash (ZEC) - Marketing Director of Zcash stated that they've developed two types of transactions - one is based through the public ledger while the other maintains that the private address of the individual is secured. This allows for the trading of anonymously. Legal and private are not the same. This is the reason these coins were invented.

DASH (DASH). Xcoin was previously known as Darkcoin and then Dash. It's one of the most renowned cryptocurrency that is a privacy currency. It has undergone numerous name changes since 2014, Dash is a fork from Bitcoin and its privacy component is considered as an additional feature that is referred to as PrivateSend.

Verge (XVG) It is focused by protocols for communication such as I2p and Tor, Verge has 5 Proof-of-Work algorithm running on its blockchain that consists of Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s. It is a high-end security system that provides protection against 51% attacks.

PIVX (PIVX) - Simon Fischer, the founder of FusedHelios PIVX (a class in PIVX) is quoted saying that they're trying to make privacy a legal right to everyone and every one. This is not a policy that should be limited to only the rich or the corrupt. The company is therefore looking to create an on-chain solution. ZDEX is an option that uses the PIVX network to create an open market.

The government is becoming aware of the increasing problem of corruption. Indian governments have declared that privacy coins are to be given the top priority. As we see technological advances of projects such as TeleCoin and PIVX One can dream of a secure and private crypto environment in the near future.