Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/company/the-blockchain-that-brings-privacy-to-the-masses/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

The Blockchain that Brings Privacy to the Masses
NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

The Blockchain that Brings Privacy to the Masses

NewsBTC
NewsBTC
3 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In 2009, Satoshi Nakamoto released Bitcoin unto the world, and with it, a technology with the potential to define the next century: blockchain.

As a default, blockchains secure transactions with a level of privacy exceeding that which is achievable through centralized payment networks. Consensus mechanisms such as Proof of Work (PoW) and Proof of Stake (PoS) provide methods for decentralized consensus, allowing cryptocurrency networks to settle transactions without a centralized authority.

However, experts amongst the cryptocurrency community are expressing concern over whether this level of privacy is enough given developments in modern anti-privacy technologies.

Blockchain: Private or Not?

Banks and centralized payment networks like Visa have no choice but to record personal transaction data – sender and receiver names, amounts, times, locations, and often the types of goods or services purchased – in order to facilitate the movement of money and protect users from fraud.

While blockchains are advantaged in this regard, the privacy they provide is not perfect. Sender and receiver wallet addresses, as well as transaction amounts, are stored permanently on blockchains for all to see. Bitcoin.org describes how this applies to the Bitcoin network:

“All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network. Bitcoin addresses are the only information used to define where bitcoins are allocated and where they are sent. These addresses are created privately by each user’s wallets. However, once addresses are used, they become tainted by the history of all transactions they are involved with. Anyone can see the balance and all transactions of any address.”

To combat this, many have turned to tumbling services that send transactions through a plethora of wallet addresses in an attempt to obfuscate transaction origins and destinations. However, both researchers and adversaries have had 12 years to crack high-volume blockchain transaction tracing. Today, blockchain analysis software makes it possible to rapidly trace tumbled transactions and associate wallet addresses with each other.

Further, most people enter the cryptocurrency market through centralized exchanges like Coinbase which require their members to pass KYC (Know Your Customer), a process used to verify the identities of individuals in accordance with regulations. This means that all transaction chains originating from centralized exchanges are traceable and easily tied to their members’ real identities.

Clearly, an upgrade is needed if our financial privacy, and to an extent, our freedoms, are to survive modern blockchain tracing techniques and encroaching regulations.

Improving Blockchain Privacy

Some cryptocurrency projects, aptly named “privacy coins”, have taken it upon themselves to solve the privacy gaps in previous-generation blockchain protocols.

Monero, Zcash, and PIVX are popular options, but concern over whether they have kept up with evolving privacy needs grows within the cryptocurrency community. Many security experts are instead turning to Navcoin, a future-oriented privacy project that supports public transactions through its NAV token and completely private transactions through its xNAV token.

xNAV uses Navcoin’s self-developed privacy protocol “blsCT” to protect transaction data from prying eyes. BlsCT does so by combining all transactions within a block into one, then distributing xNAV tokens to wallets without revealing their addresses or balances to the public. This effectively breaks the link between transaction inputs and outputs, making it impossible to identify which wallets participated in which transactions.

xNAV takes user privacy even further by solving a threat factor that most cryptocurrency users are not aware of: IP tracing.

When a transaction is sent through a cryptocurrency network, the sender’s IP is revealed to neighboring nodes. This means that transactions can be associated with IP addresses, making it possible to trace the physical origination of transactions.

xNAV solves this using another innovative technology, Dandelion++. With it, sender IP addresses are initially sent to a single node, which then connects to a different node and acts as the original sender. This chain continues a random number of times, obfuscating the original sender’s IP address, making it impossible to correlate transactions with IP addresses.

A High Utility Privacy Platform

While Navcoin’s privacy protocols are impressive, they aren’t the only reasons behind Navcoin’s recent attention.

Navcoin will soon begin offering privacy as a service, transitioning into a high utility privacy platform that can be used by other cryptocurrencies to attain total privacy. This will drastically increase the demand for Navcoin, as all network fees will be paid with it.

As part of its offerings, Navcoin’s platform will support Private Tokens and NFTs, allowing users to mint NFTs along with tokens pegged to the values of other assets, all with the same privacy-preserving aspects used by xNAV.

The implications of this are broad – including the potential for users to mint private versions of cryptocurrencies, and trade privately, removing KYC from the process of gaining exposure to mainstream cryptocurrencies like Bitcoin and Ethereum.

As revolutionary as it is, blockchain technology needs an upgrade if it’s going to keep up with the anti-privacy tactics of institutions and adversaries. Navcoin leads the way with xNAV, an innovative privacy coin that solves today’s privacy concerns.

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bubblemaps V2 Now Supports BNB Chain, Bringing Simple Data Visualisations to The Network

Web3 data visualization service Bubblemaps expands its offerings to BNB Chain, aiming to enhance token transparency and on-chain visibility for...

News BTC 2 weeks ago

Bitget Launches Live Streaming, Accelerating Real-Time Engagement for Crypto Content Creators

Victoria, Seychelles, May 19th, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has announced a live feature boosting...

News BTC 2 weeks ago

Eightcap Partners with CoinDesk Indices to Launch Regulated Crypto Derivatives Based on the CoinDesk 20 Index

London, United Kingdom, May 20th, 2025, Chainwire First-of-its-kind offering combines institutional-grade index access with global retail distribution through Eightcap Embedded....

News BTC 2 weeks ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

TokenFi Launches Real-World Asset Tokenization Platform Built for Compliance and Scale

NewsBTC 1 week ago

TOKEN2049 Dubai recap from a crypto VC

News BTC 2 weeks ago

Best Non Gamstop Casinos in 2025 – List of Casino Sites Not on Gamstop UK

NewsBTC 2 weeks ago

Premium Sponsors

Top Brands

Press Releases

  • A smart choice for XRP investors to passively earn money...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Let everyone earn $10,0080 a day – CRYPTOMININGFIRM...

    2 weeks ago
  • Start RIPPLECOIN Mining cloud mining package through...

    2 weeks ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.