Rise of Anonymous Cryptocurrencies: Brief Introduction

Abstract

Bitcoin cannot provide enough anonymity for its users and, thus, people started to worry about a possible traceability in their cryptocurrency transactions. More and more people get into the crypto-ecosphere while privacy concerns are paramount. In this paper, five well-known cryptocurrencies that claim they provide anonymity are analyzed to see how, if at all, they achieve anonymity. We then examine the considered cryptocurrencies: Dash, Monero, Verge, PIVX, and Zcash.