Decred (DCR) Adds ‘Middle-Ground’ Privacy Functions To Its Token
Privacy coins are getting very popular these days. Several projects are starting to implement new privacy features on their tokens and Decred was the latest company to do it, according to its blog post. Now, the DCR tokens created by the company are set to have privacy features.
The company affirmed that they want to be the middle ground for open and privacy coins, the mix between Bitcoin, which is fully open, and Monero, which is so private that regulators often want to ban it.
Jake Yocom-Piatt, one of the co-founders of the company, compared the degrees of privacy of several tokens. Monero and Zcash have high privacy, while tokens like Decred and Grin would not have so much of it, but they would not be complicated.
The implementation of the technology is said to be simple, creative and adaptive. The idea behind the decision is that a short code can be as effective as a large one and less prone to bugs.
All of the privacy features that will be used by the new token will be based on the CoinShuffle++ software, which is already used for coin mixing. The code is open source and tried and tested, so it was chosen because of its reliability.
At the time of this report, each DCR token cost $25 USD. The full market cap of the token is $252 million USD. In the last 24 hours, the price of the token is 0.55% up, largely unaffected by the announcement.