Privacy Options Underutilized in Cryptocurrency Usage: Report
According to Coin Metrics, transactions of privacy-focused cryptocurrencies zcash (ZEC), monero (XMR), and grin only add up to 6% of bitcoin’s transactions. “For every transaction on one of these privacy assets, there are 16 done on Bitcoin and countless more on assets that offer even less privacy,” Coin Metrics detailed, in its September 1 report titled, “State of the Network: Issue 66.”.
Outside these coins, a privacy feature for bitcoin, Coinjoin, allows users to “mix” their coins together to obscure individual transaction records. “We can also note a renewed interest in Coinjoin with providers like Wasabi and Samourai’s Whirlpool which, despite representing a very small proportion of bitcoin’s transaction volume, are growing quickly,” said the Coin Metrics report.
