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Crypto exchange OKEx will delist five privacy coins

Crypto exchange OKEx will delist five privacy coins as of the 10th of October. This is because they “violate” the FATF’s “travel rule”

September 16, 2019, | AtoZ Markets – Regulatory pressure on cryptocurrency exchanges to stop providing users with access to so-called privacy coins is growing.

OKEx to delist privacy coins in Korea due to increasing regulation

The South Korean branch of a global cryptocurrency exchange OKEx has announced it is planning to delist all five privacy coins which include monero (XMR), dash (DASH), zcash (ZEC), horizen (ZEN) and super bitcoin (SBTC).

According to the statement published on the Korean website of the crypto exchange, the privacy coins violate the laws of regulatory agencies and policies related to preventing money laundering and terrorism financing.

[Anonymity tokens] violate the laws of regulatory agencies and major institutions. The Financial Action Task Force (FATF) has recommended abiding by the Travel Rule, and we are taking steps to follow it.” said a spokesperson of OKEx Korea.

The FATF is an international organization that was established back in 1989 as the initiative of G7 in an attempt to develop and create policies and guidelines to combat global money laundering. Back in June 2019, the watchdog issued its final crypto guidelines in which it retained the “travel rule”.

This Travel Rule makes it compulsory for exchanges to obtain and share clients’ data with other platforms. The required information includes the originator’s name, account number, and location information, among others.

However, these five privacy-oriented coins are not compliant. By design, they shield the identity of the sender and recipient of a transaction.

As a result, OKEx South Korea will stop providing support for the coins as of the 10th of October. Nevertheless, customers have until December 10 to withdraw any of the five delisted coins from the platform.

According to an OKEx representative, this decision applies only to its Korea unit.  Nevertheless, these coins will remain listed on the global OKEx platform.

More crypto exchanges could follow

Regulatory agencies around the world and crypto exchanges are imposing new regulations.  Hence, their users would have to follow if they want to continue operating in the market.

In August, U.K.-based crypto exchange CEX.io also announced that it is delisting privacy coins zcash and dash taking into account “global regulatory and compliance developments.” Coinbase U.K. also recently discontinued support for zcash due to U.K.’s new banking partner ClearBank.

Notably, another South Korean cryptocurrency exchange Upbit has also announced the delisting of privacy coins on September 9. Probably, more crypto platforms that deal with privacy crypto will follow the suit.

Think we missed something? Let us know in the comments section below

Banking Giant Barclays ends Coinbase banking relationship

Barclays ends the Coinbase banking relationship that began in March 2018, losing its access to the FPS for fiat settlements.

The article was updated on 13 November, 2019 by Amicus.

14 August, 2019 | AtoZ Markets – U.K.-based banking giant Barclays has severed its banking ties with U.S.Based cryptocurrency exchange Coinbase. CoinDesk reported the news yesterday, August 13, citing anonymous industry sources.

The news apparently affected Coinbase’s users’ access to the United Kingdom’s Faster Payments Scheme (FPS). That allows them to deposit and transfer the British pound at the exchange instantly. As a result, fiat deposits or withdrawals from the exchange are taking days to process for Coinbase UK clients.

This current situation is, however, temporary as the report added that Coinbase has now found a new banking partner ClearBank, a newly established financial institution, which is expected to bring back the FPS access by the end of the third quarter.

Why Barclays ended Coinbase banking relationship?

However, the exact reason for Barclay severing the Coinbase banking relationship remains unknown. But, some unnamed sources have speculated the reasons for this:

“It is my understanding that Barclays’ risk appetite has contracted a little — I’m not sure exactly why or what’s been driving that, maybe there has been some activity they are not happy with. But it’s about Barclays’ comfort level with crypto as a whole.”

Another speculation pointed out that the Barclay got uncomfortable with Coinbase’s request to add more cryptocurrencies on its platform for trading. Currently, traders can trade some of the top-rated crypto assets on Coinbase exchange including:

  • Bitcoin
  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • USD Coin (USDC)
  • And a few others

It is worthy of note, however, that the San Francisco-headquartered exchange has earlier this week stopped offering support for privacy cryptocurrency Zcash (ZEC) for its U.K.-based clients. Also, this has to do with the new partner bank.

Last week, AtoZMarkets reported that US District Judge Vince Chhabria issued a verdict that the crypto exchange would be charged with negligence, fraud, and unfair competition regarding the process in which Bitcoin Cash was launched.

In all of these, Coinbase, having Brian Armstrong as its CEO, seems not to have suffered any setbacks in recent months. This August, it revealed that the crypto exchange had registered 8 million new users in 2018.

Think we missed something? Let us know in the comments section below.

How to earn free Stellar Lumens XLM?

Want to earn free Stellar Lumens in 2019?  If you are a fan this cryptocurrency, you will definitely like to learn how to get rewarded in XLM tokens by doing things you already do online.

This article was updated on the 11th of September 2019.

March 28, 2019 | AtoZ MarketsStellar Lumen (XLM) has joined the Coinbase Earn platform that incentivizes users to learn about the technology behind the cryptocurrency, by rewarding them with free Stellar Lumens XLM coins.

In a surprise move, US-based cryptocurrency exchange Coinbase has announced that it is going to give away more than $100 million worth of XLM tokens to users who take part in its Earn platform. So, what can you do to earn free Stellar Lumens tokens?

Here is how to earn free Stellar Lumens XLM

In order to receive the free Stellar Lumens, a user will have to sign up for a Coinbase account and need to watch five educational videos about the Stellar protocol. Those videos are short and can be watched in less than an hour.

The company’s focus is to educate users about the use of the XLM coin in banks, businesses, and their own use. In addition to that, users get to know how Stellar protects digital assets. After that, there will be few quizzes to solve, and once passed, the user will be awarded $10 Stellar Lumen.

earn free Stellar Lumens

Currently, the offer is only valid for the residents of the United States. However, Coinbase said that the offer would be available to international users soon. You may, however, be wondering; How much free Stellar Lumen can you earn? Read on!

How much free Stellar Lumen can you earn?

A total of $50 can be earned per user. By watching the five videos and completing the quizzes a user can earn $10 worth of XLM coins. Afterward, a user gets a choice to earn $40 more by inviting up to 4 friends. Each successful referral would make $10 worth of XLM.

Coinbase drive to promote the development of the Stellar Network

Stellar Lumen provides a platform for the developers to integrate the current financial system on Blockchain using the Stellar Protocol. It also aims “to tokenize existing assets and currencies such as US dollars and euros.” The Stellar Network is primarily built on the unified ledger concept of Bitcoin based on Stellar Consensus Protocol.

Hence, by promoting the learning initiative, the foundation aims to attract the developers to build tokens and assets on the Stellar Network.

free Stellar Lumen

“Coinbase’s mission is to create an open financial system for the world…Stellar’s goal of connecting banks, payment systems, and people more efficiently than today’s financial infrastructure is an example of how crypto can help achieve this vision.”, Coinbase added in a tweet.

ZCash, BAT and 0X on Coinbase Earn programme

Free Stellar Lumens is not the only option who look for making some profit. Coinbase Earn platform also has an option for Zcash, BAT and 0x. However, the Stellar Lumens offer is far most lavish. After all, users get some free cryptocurrency by understanding the basic concept behind these cryptocurrencies.

Please share your thoughts with us in the comment box below.

Will France ban anonymous cryptocurrencies?

March 8, 2019, | AtoZ Markets – Anonymous cryptocurrencies have been controversial in the crypto world since their inception. These digital assets have the ability to hide the user’s identity, which many libertarians call it their right! Banks and regulators also believe that anonymous cryptocurrencies are the currency of choice among cybercriminals. The latter believe that anonymous digital assets have the potential to be used for tax evasion, money laundering, or other illegal purposes. However, they have all failed to prove their theory till now.

Meanwhile, there is a new joiner for the crypto AML rally, France. Now, the question is will France ban anonymous cryptocurrencies?

While governments cannot completely shut anonymous cryptocurrencies down, they can issue bans on these digital assets, deeming them to be illegal.

Will France ban anonymous cryptocurrencies?

Eric Woerth, the head of the Finance Committee of France’s National Assembly, has proposed banning of anonymous cryptocurrencies in a recent report about crypto assets and blockchain technology shared by the French Assembly. According to him, the anonymous cryptocurrencies that allow users to hide their identity, such as Monero, PIVX, DeepOnion, Zcash, should be banned because of the risks they entail. His remark is that anonymous crypto users can use these digital assets without undergoing any verification process.

Eric Woerth’s anonymous cryptocurrency report stated that:

“It would also have been appropriate to propose a ban on the dissemination and trade in [cryptocurrencies built] to ensure complete anonymity by preventing any identification procedure by design. This is the case for a certain number of cryptocurrencies like Monero, PIVX, DeepOnion, Zcash etc., whose purpose is to bypass any possibility of identifying the holders. To date, regulation has not gone that far.”

Furthermore, Mr. Woerth claims that the use of this type of cryptocurrencies poses major financial issues such as fraud, tax evasion, money laundering, and energy consumption. Therefore, they should be banned. The French authorities announced in December that they did not plan to loosen crypto taxation. Some members of the French parliament also proposed in December to invest €500M in the blockchain.

Is this yet another uncalculated attack on cryptocurencies or do you think that France will ban anonymous cryptocurrencies? Share your feedback and comments with us.

Crypto Bug Could Have Filled in The Market With Fake Currencies

A Zcash engineer has spotted a seemingly small bug that he realized would create vulnerability in the cryptocurrency market and jeopardize billions of dollars in capital.

February 06, 2019 | AtoZ Markets – At Zerocoin Electric Coin Company, an engineer has identified an error in a pioneering cryptography paper for a host pf virtual coins, including Zcash’s. Zcash is a start-up that is known for the creation of Zcash – a privacy-owned cryptocurrency. The engineer, Ariel Gabizon, identified this bug on 1st March 2018. The flawed paper described the mathematical foundation of certain cryptocurrency breakthrough that developed the privacy features of digital currency projects including Zcash’s. If this had come to the knowledge of an attacker, he would have exploited the vulnerability to mint an infinite amount of Zcash and other cryptocurrencies that are built on this cryptographic technology. This would have caused a lot of problems which no one would have been able to trace and which ultimately, would have led to loss of huge funds.

Vulnerability Not Yet Exploited On Zcash

Nearly eight months after the discovery of this security hole, Zcash CEO, Bryce Wilcox said his team has patched it immediately it was discovered. He expressed his doubt concerning any exploitation of the vulnerability on the Zcash blockchain. According to him, very few people knew the cryptography well enough to have discovered and exploited it. Besides, there was no abnormally large transfer of Zcash cryptocurrency which might have raised suspicion. However, the Zcash team admitted to no complete certainty that the vulnerability was or has not been exploited. The team expressed its readiness to balance security concerns against the risk of leak. While Zcash and a few other top affected cryptocurrencies have been able to patch up their systems, not every project liable to this bug had been notified. Some projects therefore, appears to still be vulnerable to this bug.

Fixing Processes

When this bug was first discovered by Gabizon, Zcash leadership had two options. They could have raised an alarm immediately and sent panic to the entire industry and therefore opened several Crypto projects and theirs to obvious attacks, or they could have kept the knowledge of the bug between themselves, fixed it, sneaked it into a network upgrade and quietly alerted other affected parties. The former, which the team opted for, sounds obviously better. A core group of Zcash insiders were made to know of this. The bug was fixed and the so called Sapling Update was done on 28th October.

Just a couple of weeks after Zcash was sure that the bug was fixed on its network, it alerted security contacts at two other affected projects about this vulnerability. On 13th November, Komodo (creator of KMD tokens) and Horizen (creator of ZEN tokens) were alerted. All the three projects group alerted have since patched their codes and upgraded their systems. One of the team members at Horizen, Maurizio Binello, after completing their upgrade on 18th January, said:

We’d like to thank the Zcash team for disclosing their technical concerns and the coordination work… we see this as an important sign of maturity for the whole industry

While these projects appear safe from this bug, smaller projects currently remain vulnerable. One of them is Bitcoin Private, whose virtual coin is valued at $18 million.

Think we missed something? Please share with us in the comment box below.

Homeland Security Plans to Track Zcash and Monero Transactions

December 06, 2018 | AtoZ MarketsRecently, the US Department of Homeland Security (DHS), posted a new document titled “Small Business Innovation Research (SBIR) 19.1 Pre-Solicitation” which contains plans on the cryptocurrency tracking.

DHS plans 3 Phases of Crypto Tracking

DHS which manages a border control, terrorism, cyber-crime, and disaster management as the branch of the American government, intends to arrange a system to monitor anonymous cryptocurrencies Monero and Zcash. According to the U.S. federal agency officials, the proposals regarding new document are open to consultation until the 18th of December. The new DHS paper consists of 3 phases of the cryptocurrency research.The first stage of the DHS plan involves designing a blockchain analysis ecosystem to enable forensic analysis for homeland security law enforcement applications to monitor the usage of Zcash and Monero. The second phase covers prototyping and demonstrating of the blockchain forensic technologies already designed, in which a number of representative transactions would be analyzed. The third phase is related to the implementation of cryptocurrency. It involves tracking applications for governmental and commercial uses in anti-money laundering activity and during law enforcement operations.

Cryptocurrency transactions are not entirely private in reality

It is a broadly known fact, that cryptocurrency transactions are anonymous, in reality, all the contents of crypto wallets are open to public view. Cryptocurrency transactions are openly recorded and cannot be deleted, although the identity of the owner of a wallet need not be disclosed.

The first Bitcoin transactions tracking product named Crystal appeared in January 2018, was designed by San Francisco-based blockchain software company BitFury. Crystal allows law enforcement to detect suspicious behavior on the blockchain and determine wallet ownership, providing evidence that can be used in court.

Monero is an open-source decentralized cryptocurrency created in April 2014 which focuses on fungibility and privacy. It used an obfuscated public ledger, meaning anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination.

Zcash was developed and launched in 2016. It has strong privacy features, transact efficiently and safely, with low fees, while ensuring digital transactions remain private. Both cryptos were established due to the market demand for anonymity.

Another cryptocurrency, XRP offers users the option of hiding transaction amounts, creating stealth addresses, and obfuscating the path of a transaction. The experts note, that illegality is not the only reason that someone might have for wanting to hide their transactions. Avoiding the taxman could be a reason, as could believe in the principle that a person should be able to exchange their money without being followed. However, nowadays, when the blockchain-based businesses attract more big-money investors, anonymous coins begin to stand out as being in defiance of existing financial law. As a result the new U.S. cabinet department proposal calls for solutions that enable law enforcement investigations to perform forensic analysis on blockchain transactions. According certain media resources, in September a group of US government agencies led by the IRS has awarded several contracts worth millions of dollars to blockchain monitoring firms like Chainalysis as part of this effort.

Think we missed something? Let us know in the comments section below. 

“Sapling” Zcash Hard Fork to Take Place Today

Zcash Hard Fork will “pave the way for broad mobile, exchange and vendor adoption of Zcash shielded addresses.” It will introduce more efficiencies for Blockchain’s signature shielded transactions.

29 October 2018 – Markets expect the Zcash Blockchain to experience a hard fork on October 29, 2018. This event will upgrade the network in order to make shielded transactions less computationally heavy. This will make the cryptocurrency easier to use. 

Zcash Hard Fork will Facilitate shielded transactions

The Zcash Blockchain and the ZEC coin have been introduced back in 2016. The project aimed to concentrate on privacy by utilizing zero-knowledge proofs. Zcash emerged as the first big application of zk-SNARKs, which is a variation of zero-knowledge proofs that allow them to be used in Blockchains and reduce their size. This consequently reduces the computational strain on the network. 

The upcoming hard fork for Zcash is dubbed “Sapling.” It introduces more efficiencies for Blockchain’s signature shielded transactions. The project states that it will “pave the way for broad mobile, exchange and vendor adoption of Zcash shielded addresses.”

Shielded transactions require more computational power to transact, validate and record on a Blockchain. This makes them difficult to support for “light” crypto users. Mobile users and cryptocurrency exchange are among those in trouble. 

Sapling’s shielded transactions will create new Sapling z-addresses for users that are shorter. They will improve privacy for the entire Zcash network. Zcash representatives have been quoted as saying:

“Payments involving the new Sapling z-addresses can be constructed in as little as a few seconds and with only 40 megabytes of memory. Exchanges, mobile wallet providers, vendors, and other 3rd parties will now be able to support shielded addresses.”

Sapling Update Details

The Sapling update will divide the hardware that constructs Zcash zero-knowledge proofs from the hardware that signs for transactions. As per Zcash:

“Enterprises can perform an inexpensive signature step in a trusted environment while allowing another computer, not trusted with the spending key, to construct the proof.”

“Sapling” will also advance viewing keys, so that owners of shielded addresses can view incoming and outgoing transactions details without the need to expose their private spending key. This will imply that transactions can also be shared securely with trusted third parties, where authorities require compliance and audit checks.

In addition, the new Sapling z-addresses have a feature that “allows trillions” of addresses to receive payments simultaneously without any extra costs. Exchanges and merchants will now be able to create large numbers of “distinct and unlinkable” z-addresses for clients.

A part of the Sapling upgrade will need to be phased. The existing “Sprout” addresses will carry out to receive support, but eventually, they will retire. Some of the gradual migration might be required to ultimately improve Zcash to a more protected and usable network. 

Think we missed something? Let us know in the comments section below.

Coinbase Users Can Trade ZRX Today

October- 17, 2018 | AtoZMarkets

Coinbase’s newest token ZRX has gone live recently.

The U.S based cryptocurrency platform added yesterday support to ZRX, which is represents the Coinbase’s 0x Project.

The step comes after the company announced last week that it added ZRX to Coinbase Pro, which is known as “evolution of GDAX”- being Coinbase’s more feature-rich trading platform.

As per the reports, the company had expressed its interest over the last period to study adding a number of new cryptocurrencies, including 0x (ZRX), Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM) and Zcash (ZEC).

New Cryptos are Yet to Come

Market analysts expect the popular platform to add more cryptocurrencies down the road, aiming to be the New York Crypto Exchange.

With ZRX joining its assets’ rows (Ethereum, Bitcoin, Bitcoin Cash, Ethereum Classic), the exchange is currently supporting five cryptocurrencies.

Based on the transparency in its regulatory drive the platform has shown so far, expectations refer to that the company might be successful to avoid another “debacle” such as the volatile launch of Bitcoin Cash last December.

Coinbase mentioned before in a blog post, that it was being requested to make it possible for the customers to trade more assets on it.

As reported, the new token ZRX is expected to appear on the desktop systems, iOS, and Android versions of Coinbase for most users, while it will keep unavailable at launch time in New York and the UK due to unsettled regulation issues.

June Zcash Update Will Act as Foundation for Sapling Update

31 May, AtoZ MarketsThe team that is working on the development of the zcash cryptocurrency has released the new software that includes support elements of the network’s planned Sapling upgrade. It is set to take place later in the year.

Zcash Sapling

In fact, Sapling is not the first hard fork that is planned for zcash. The closest one, Overwinter, is set to be effective in the end of June. The update 1.1.1 sets the initial consensus rules as it prepares a Sapling-based testnet. 

Earlier in February 2017, Zcash team has firstly revealed the details about Sapling. According to them, Sapling is aimed at speeding up transactions on the network. However, the activation of “block height” has been missing. As per developers, this detail will be included in the upcoming update.

The team has written in a blog post:

“As a reminder, because the Sapling activation height is not yet specified for mainnet, version 1.1.1 will behave similarly as other pre-Sapling releases even after a future activation of Sapling on the network. Upgrading from 1.1.1 will be required in order to follow the Sapling network upgrade on mainnet.”

June Zcash Update Will Act as Foundation for Sapling Update

June’s Overwinter upgrade is aiming to set a basis for future hard forks. This process has solidified controversy for other Blockchain protocols to take place on zcash. The co-founder and CEO of Zerocoin Electric Coin Company, Zooko Wilcox, has stated:

“The purpose of this is to get practice doing network upgrades.”

Zerocoin Electric Coin Company is working on the development of the network.

Zcash is a privacy driven cryptocurrency launched on October 28, 2016. It uses Equihash algorithm, which is a lopsided memory hard POW (Proof of work) based cryptocurrency. Zcash payments are published on a public Blockchain, but the sender, recipient, and amount of transaction remain private. 

Also, Zcash was the first open, permissionless cryptocurrency that can fully protect the privacy of operations done by the users using zero-knowledge cryptography. It relies on high RAM requirements to hinder the generation of proofs and making ASIC development highly impossible. Like Bitcoin, Zcash has a total fixed supply of 21 million units.

Think we missed something? Let us know in the comments section below. 

Top 6 Cryptocurrencies 2018

We are approaching the end of the current year, and it is high time to analyze and plan for the next year. While the 2018 Ripple and Bitcoin Cash Price Prediction gives us high hopes, what really awaits us in the year of the Dog? Here, we discuss the Top 6 Cryptocurrencies 2018 and look at their 2017 performances.

5 December, AtoZForex Earlier this year, we have come up with the list of the top 10 cryptocurrencies 2017, based on the market analyses and overall market sentiment.

Top 6 Cryptocurrencies 2018

Thus, in this educational piece, we will go over the top 6 cryptocurrency picks for 2018. We will base our judgment on the coins’ performance during the year and the future plans of the teams behind the projects.

Here is our list of top 6 cryptocurrencies 2018. Dig in!

Bitcoin (BTC)

Bitcoin now is trading at $12,027.30, while its market capitalization stands at $201,116,445,373. In fact, this year Bitcoin has risen in value 1,000% year-to-date. Such a successful year made this cryptocurrency an attractive asset for the financial institutions and governmental organizations all over the world.

The Bitcoin miners are the key to Bitcoin security and miners are responsible for the creation of new Bitcoins. In fact, keeping your Bitcoin safe is the most important thing to do after buying Bitcoin. You should also follow other Bitcoin news.

Top 5 cryptocurrencies 2018

While many governments have also warned about this and other cryptocurrencies, it seems like nothing can stop Bitcoin. Besides, numerous industry insiders believe that Bitcoin is here to stay, with numbers of examples of Bitcoin adoption throughout the world.

See the list of 11 Promising Coins to Invest in December

 

Cryptocurrency frenzy, led by Bitcoin, has been the biggest trend of the current year so far. In addition, there is a big chance that the same would apply to the upcoming year of the Yellow Dog. Nevertheless, you might be quite cautious and perform a comprehensive analysis prior to investing in Bitcoin – this cryptocurrency (like any other) tends to be very volatile.

In order to stay on the safe side, see the countries where Bitcoin is legal and also countries where Bitcoin is illegal.

Ethereum (ETH)

Ethereum, the second biggest cryptocurrency in the world in terms of the market capitalization, now is changing hands at $464.68, while its market capitalization accounts for $44,678,905,662. 

Top 5 cryptocurrencies 2018

Even though Ethereum is quite far from reaching Bitcoin’s heights, this digital currency stands steadily and has all the potential to overcome the pioneer-cryptocurrency. While many investors seem to be bothered with the potential of regulations of initial coin offerings (ICOs), others see this issued as quite overblown and not really relevant to the Ether value.

The Ethereum co-founder, Vitalik Buterin, has recently become one of the 50 most influential people according to Bloomberg ranking. Earlier last month, he had shared some Ethereum future plans with the public, which, in fact, promise to contribute to the overall development of the cryptocurrency in the upcoming year.

Notably, Ethereum has surpassed Bitcoin in terms of the number of transactions.

Litecoin (LTC)

Litecoin appears to be one of the best alternatives to Bitcoin. It was created to manage some of the flaws in the original Bitcoin protocol. In fact, Litecoin is one of the very first altcoins in existence after Bitcoin. As of now, one Litecoin trades at $103.43, and its market cap figure is at $5,599,290,398.

Top 5 cryptocurrencies 2018

The cryptocurrency was introduced back in 2011, while it is almost identical to Bitcoin in terms of features. Even though this particular cryptocurrency is not as innovative as our previous coin, Ethereum, it is still has a lot of potential.

The value of this coin is derived from the user adoption. There is also a difference in leadership for the firms, as well. The creator of Litecoin, ex-Google employee, Charlie Lee is entirely transparent about what is he doing with the currency on social media, which is a great thing.

We strongly believe that Litecoin has the right for a place in this list of top 6 cryptocurrencies 2018 due to its high potential.

Zcash/Monero (ZEC/XMR)

Even though we have placed these two cryptocurrencies together here, yet there are very different technically. You can also study our Zcash vs Monero analysis for an in-depth look. Yet, there two promising cryptocurrencies are aiming to solve the same problem. This problem is anonymous transactions.

Zcash now trades at $324.77, while its market cap is totaling at $899,108,954.

Top 5 cryptocurrencies 2018

The value of Monero stands at $235.53, with its total market cap being $3,636,488,209.

Top 5 cryptocurrencies 2018

Bitcoin protocols are transparent – the public ledger logs every transaction and makes it publicly available. In addition, Bitcoin’s protocol allows for a certain degree of anonymity.Yet, anyone can see how the money is moving around. This is exactly what these two currencies are looking to modify – a safe and sound way to ensure the maximum anonymity.

However, the same aspect has been emerging as the key concern of many governments. Officials claim that due to the privacy features, many of criminals use Bitcoin. Modern global regulatory bodies are trying to find a way to solve this.

As a matter of fact, maybe Zcash and Monero will be able to enable criminal-free anonymous transaction in 2018. This makes a good argument for them to make it to our list of the top 6 2018 cryptocurrency picks.

IOTA (MIOTA)

IOTA has one of the biggest potentials to human life change, according to some industry observers. In fact, the cryptocurrency might become the fastest growing market in the next years. However, the most amazing thing is that the development in the linked fields is interconnecting.

This cryptocurrency is concentrated on Machine-to-Machine transactions. Its key purpose is to enable M2M payments via serving the machine economy. Sounds futuristic, isn’t it? It is – because it is really future. This cryptocurrency is quite different from other digital currencies since it does not even based on the blockchain system. IOTA uses the special new concept called the tangle.

Tangle is a special acyclic directed graph, which looks like a web different from a blockchain. Each of the IOTA’s transactions is confirmed by only two other nodes.

As of now, IOTA’s value stands at $2.99, with its market cap accounting for $8,317,744,372.

Top 5 cryptocurrencies 2018

Think we missed something in this list of Top 6 Cryptocurrencies 2018? Let us know in the comments section below.