BSV Leader Craig Wright Claims His Privacy Coin Technology Can Make ZCash And Monero Traceable
Craig Wright Claims He Has The Technology To Make ZCash And Monero Traceable
Craig Wright, the Chief Scientist at nChain, said that he is working on a technology that would make transactions on Monero (XMR) and ZCash (ZEC) traceable. These two digital assets are known for their privacy features that do not allow third parties to track the funds being moved by users.
Craig Wright Could Trace Privacy Coins
Craig Wright is a controversial figure in the cryptocurrency space. He has been behind the Bitcoin SV (BSV) project that forked from Bitcoin Cash (BCH) back in November 2018. At the same time, he claims that he is Satoshi Nakamoto, the famous creator of Bitcoin.
In a recent tweet, Wright mentioned that he is working on a new technology that will make privacy-focused networks vulnerable to traceability software. He has also suggested that he will be giving the technology to law enforcement agencies to fight against criminal activities.
In another tweet, a user said that it might be difficult but not impossible. Craig explained that technology is slowly evolving and that they will be released in the future.
Privacy currencies are used by those individuals that usually search for more privacy than what Bitcoin (BTC) or other digital assets can provide. Bitcoin transactions are open to everyone on the market. Interested users can see how transactions are processed in real time and which is the length of these transactions. That’s something impossible to do with Monero, which protects users from being traced.