Japan, Japan, Sun, 03 Apr 2022 01:33:38 / Comserve Inc. / — The Web 2.0 iteration of the Internet is defined by huge corporations amassing vast amounts of user data, which is then used to give value to consumers while increasing revenues for corporate giants
The Web 2.0 iteration of the Internet is defined by huge corporations amassing vast amounts of user data, which is then used to give value to consumers while increasing revenues for corporate giants. Indeed, these companies, such as Facebook and Google, have dominated the Web 2.0 era, consequently managing to collect massive amounts of data from their users.
As a result, the risk of user data being exploited illegally has become more common under Web 2.0. With time, the incentive of giving more value to customers was ultimately trumped by corporate greed for profit, leading to user data being used in ways that customers hadn’t consented to.
Many people still believe that just using crypto ensures privacy, whereas in reality, it’s a little more complicated than that. As many altcoins aim to provide utility and real-world value, some have emerged with the sole target of guaranteeing their users maximum privacy and anonymity.
With over 17,000 altcoins currently circulating, there is a range of privacy coins out there that claim to be the best. So, let’s take a look at whether Monero (XMR), Zcash (ZEC), and newcomer Secure Crypto Token (SECR) can be crowned royalty of crypto privacy.
The age of Web 3.0 that we’re entering marks a significant development of the Internet, in which customers can control their data as well as get fairly compensated for its use. It’s the blockchain that’s Web 3.0’s major mechanism for driving privacy – Web 3.0 aspires to create a digital arena where users own their data transparently, where users can see who has access to their data as well as what kind of access they have.
Web 3.0 proponents argue that a digital wallet is more than just a crypto account; it’s an expression of our digital identities. However, the assets and transactions of a digital wallet are public, and anyone with your wallet address can search them.
According to Coinmarketcap, over the last month, the price of Monero (XMR) has been steadily on the rise, bringing its price at the time of writing to $195.65. Its market cap is presently estimated at around $3.5 billion, which is up by almost 2%.
Monero (XMR) is one of the most secure and private digital currencies on the market. It uses the CryptoNote encryption protocol and was released by Nicolas van Saberhagen’s clandestine development team in 2021.
Law enforcement agents from various countries have tried numerous times to figure out how it operates. They were unable to determine the number of transactions, let alone the personal details of its users. Monero’s (XMR) user protection method is based on advanced cryptographic technologies including Kovri, Ring CT, and Stealth.
The Monero (XMR) blockchain possesses far better protection than other altcoins, thus the specificities of its operations remain unknown. It doesn’t come as a surprise that malware developers prefer Monero (XMR) to other digital currencies for hidden mining.
Like Monero (XMR), ZCash (ZEC) has been experiencing bullish growth over the last month. Its price has increased by nearly 6% over the past 24 hours alone, which brings its market cap to around $2.5 billion. That puts its current price at $178.68, according to data by Coinmarketcap.
ZCash (ZEC) uses the ZK-SNARKs technology, which is also used by PIVX (PIVX). Transactions that are shielded can’t be traced back to the persons involved. Users can also disable the shielded transaction feature in ZCash (ZEC) for auditing, KYC, and while using exchanges and brokers. The fact that the transaction took place is recorded in the ledger, but the sending and receiving addresses, as well as the amount sent, are kept private.
This enables ZCash (ZEC) to provide its users with the right to privacy while also allowing them to benefit from the benefits of a decentralised, permissionless digital currency.
Secure Crypto Token (SECR)
Secure Crypto Token (SECR) has only just been launched, however, it’s already being rumoured to join the ranks alongside Monero (XMR) and ZCash (ZEC). Interestingly, Secure Crypto Token (SECR) will present the opportunity to create decentralised communication platforms, boasting superior privacy and security than mainstream apps WhatsApp and Facebook Messenger as well as the chance for users to earn passive income.
Secure Crypto Token’s (SECR) stability is ensured by denominating all messages and transactions in SECR, as the token’s value is determined only by the ecosystem’s services, size, transaction volume, and messaging volume.
The idea behind Secure Crypto Token (SECR) is that by contributing valuable content, users can earn tokens that can be used to get access to exclusive platform features. The platform may also provide users with access to a wider range of services.
The value of SECR is inextricably linked to the value of the underlying application. The platform will be able to charge premium services in SECR more correctly and promote strong network activity as a result of this uniformity.
When a SECR user conducts ‘incentive’ activities, they earn more SECR. These activities include sharing or reposting content, uploading content regularly, creating valuable content, achieving milestones, logging in regularly, providing feedback, responding to notifications within a predetermined time frame, and referring people to the platform.
While these are just normal activities on Web 2.0, Secure Crypto Token (SECR) illustrates the values of Web 3.0 by compensating its users for their time and interaction.
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