The privacy updates in the Dash and Zcash news are here again. According to one crypto forensics firm, all Zcash (ZEC) transactions will be traced and data related to Dash (DASH) will be further examined.
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It appears like the crypto forensics field is buzzing lately, proving that most cryptocurrencies are not fully private as previously imagined. The transactional behaviour of any user can be mapped and worked backward to provide personal identities of the owners of suspicious crypto wallets and/or transactions.
Furthermore, the crypto forensics firm in question here is Chainalysis – recently it emerged as the top contender in the field of forensics. The achievement was made based on the solutions targeted at governments, crypto institutions, and private agencies for insights into crypto transactions and developing new anti-money laundering mechanisms.
Now, Chainalysis is moving ahead to track Dash and Zcash transactions. These are two of the largest privacy protocols which made use of various security features. For instance, Zcash uses the innovative zk-Snarks framework in its protocol to mask the transactions and protect identities.
Announcement: Chainalysis now supports Dash and Zcash! You can read up on the details in our latest blog. https://t.co/PYFKUw3C7Q pic.twitter.com/tNqUO8P5JB
— Chainalysis (@chainalysis) June 8, 2020
Founded in 2014, the crypto forensics firm Chainalysis is based in New York. On June 8 this year, it annoucned that it is foraying into investigations and compliance support for Dash and Zcash.
In terms of price movements, the Zcash and Dash news show that both of the coins are stable right now. However, they are under scrutiny as Chainalysis is blogging about them, specifically how users do not implement the privacy features available on both Dash and Zcash.
For Dash, Chainalysis noted that the protocol sends all requested transactions into a bigger “pool” and makes it difficult to connect input addresses with the output. However, this occurs only when users select the “PrivateSend” feature which is technically similar to any other coin using CoinJoin – with all “normal” Dash transactions being unmixed by default.
“(This) is larger than the share of Bitcoin transactions that use CoinJoin or mixing techniques, but is still a relatively small and declining percentage of Dash transactions,” Chainalysis added.
The firm also pointed out that Zcash is “stronger” due to its zk-SNARK encryption.
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