What is a private cryptocurrency?
Nov 30, 02:11

The crypto world has been jittery about a bill that will be discussed in the winter session of Parliament, which might ban private cryptocurrencies. Private coins can hide identities of sender and receiver, and can even hide transaction amount and the wallet address. Some of the popular private coins are Monero, Zcash, DASH and Horizon. The government has no control over transactions using private cryptocurrencies, and fears that the secrecy these coins allow could encourage money laundering or other illegal transactions. In contrast, public coins such as Bitcoin, Litecoin, Ethereum and Ripple are built on public blockchains that are more transparent.

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