Decred's developers add transaction privacy option

by in Cryptocurrency News

decred new feature

Decred's developers add transaction privacy option.

The Decred team, a cryptocurrency based on a hybrid proof-of-work and proof-of-stake consensus algorithm, announced the addition of a new feature designed to ensure the privacy of user transactions.

According to the co-founder of the project, Jacob Yokom-Piatt, his team managed to find a "middle ground" between the capabilities of Bitcoin and other anonymous coins and offer users the "desired level of privacy."

As a comparison, the project’s blog shows a table demonstrating the very “golden mean” that Decred developers found.

Trending: Blockstream reveals a new version of the lightning network

He called the implementation of transaction privacy functions in Decred “simple, creative, and responsive,” noting that it required only a few hundred lines of code.

Privacy at Decred provides the CoinShuffle p2p transaction mixing protocol, which uses “simple code and proven cryptography,” he added.

At the time of publication, the DCR coin with a capitalization of about $251 million is ranked 31st in the CoinMarketCap rating and is trading slightly above $24.

Trending: Pantera Capital Founder: BTC has chances of rising to $100K

Recall, the launch of the Decred project was originally announced at the end of 2015, but took place only in 2017 and not without delays. Company 0 took part in its creation, which since 2013 funded the development of bitcoin, and the growing centralization of “digital gold” prompted the idea of ​​creating a new cryptocurrency of developers, in their own words.