Cryptocurrency news

Coinmetrics: "the majority of cryptocurrency users do not care about anonymity»

Coinmetrics: “the majority of cryptocurrency users do not care about anonymity»

The analytical portal Coin Metrics has released another State of Network report. The authors concluded that cryptocurrency users rarely worry about the anonymity of transactions.

According to information
Coinmetrics, the total volume of transactions of cryptocurrencies with the anonymity functions of Zcash, Monero and Grin per day is only 6% of the volume of transactions with bitcoin. And even when users make transactions with anonymous cryptocurrencies, it is very rare that they use the full capabilities of the tool. For example, In the zcash cryptocurrency, you can fully protect information about who is moving and how much money. But only 2% of ZEC transactions are fully protected and anonymous.

“The apathy of users to use anonymity functions remains the main problem. Despite major technological advances in the field of confidential cryptocurrencies, the introduction of new features and anonymous assets is very slow, ” coinmetrics analysts note.

According to researchers, the adoption of cryptocurrencies is increasing and it is necessary to remember again that they were created for anonymous payments. Otherwise, the idea of anonymous transactions will become a thing of the past. However, in many cases, anonymity functions for popular cryptocurrencies, such as CoinJoin for bitcoin, are also suitable.

Wasabi Wallet recently announced that it will replace CoinJoin’s transaction privacy technology with its own development called WabiSabi.