With the coming of digital currency, there is need to also have the traders and the investors protected. Besides, that its digital nature renders it convenient since it is free from interference from third parties as well as state governments. However, how is the investor or trader transacting online using the different cryptocurrencies online? Did you know that Bitcoin has ‘’tainted bitcoins,’’ which refer to illegal bitcoins that may have been used for illegal purposes? Such coins could have been used for illegal have purposes such as ransom, human or drug trafficking and so on. The worst thing that happens under such circumstances is losing despite not being involved. Therefore, there is need to use currencies that guarantee protection.
Spectrecoin, otherwise known as XSPEC, is a cryptocurrency that aims at ensuring digital transactions are safe, secure and anonymous. It is highly developed with an energy-efficient proof-of-stake algorithm that ensures, fast, rapid and protected transactions across the globe. Its blockchain utilizes a Tor+OBFS4 which enables the user to bypass censorship, which is a basic need for every cryptocurrency trader and investor.
To begin with, Spectrecoin works by offering the user the safest tools for their financial transactions. Spectrecoin comes as a solution to the digital currencies problems whose solutions have been and are still being sought. Spectrecoin gives the user an anonymous identity during staking, trading, and mining. It does this by passing the identity through different servers whose technology is designed to make the user anonymous.
Secondly, Spectrecoin guarantees privacy by ensuring all activities are fully encrypted. Spectrecoin nodes are not referred to by their IP Addresses. Additionally, the use of Tor+OBFS4 is so advanced it protects and gives the user an ability to use Spectrecoin in any country. It is worth noting that Tor network can enables the user to trade in cryptocurrency in countries where it is censored, such as Hong Kong and China.
However, the technology behind Spectrecoin has its own challenges. Information found at here sheds light on both the cons and the pros of using Spectrecoin as a cryptocurrency. For example, the information here ascertains that many governments are watching out for the use of Tor.
Anybody can use it. But if Spectrecoin is really untraceable, most likely people who want to keep their privacy secret for various reasons would be the main users.
Other than spectrecoin, Walton chain, IOTA, NEO, and Request Network are some of the top cryptocurrencies set for success in 2018. These offer secure methods for transactions. IOTA, for example, has gone blockless Tangle that works through an action validation network that is not in any way subject to PoW/PoI/PoS.
In conclusion, privacy matters when transacting with Spectrecoin as the ultimate cryptocurrency. Unlike other cryptocurrency blockchains, spectrecoin is based on proof-of-stake. It is Tor+OBFS4 technology that makes it one of the safest private currencies to buy, sell or mine.
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