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@ -386,7 +386,7 @@ Zcash (ZEC) was ground-breaking in the implementation of a protocol known as Suc
Monero is often hailed as the privacy king of cryptocurrency. While it has commendable features with its RingCT protocol, the overarching theme is obscurity rather than traceless transactions.
"The fundamental problem of coin mixing methods though is that transaction data is not being hidden through encryption. RingCT is a system of disassociation where information is still visible in the blockchain. Mind that a vulnerability might be discovered at some point in the future which allows traceability since Monero’s blockchain provides a record of every transaction that has taken place."
This operates similar to a mixnet where it is difficult to discern the originating address from a transaction. One of Monero's developers publicly admits that "zk-SNARKs provides much stronger untraceability characteristics than Monero (but a much smaller privacyset and much higher systemic risks)." Intelligence agencies have placed their eyes on Monero for some time. The United States has even brought in a private firm called CipherTrace who claims to have built tools capable of tracing transactions. [^32](https://ciphertrace.com/ciphertrace-announces-worlds-first-monero-tracing-capabilities/) At the time of writing, these are unsubstantiated claims; there is no evidence to suggest that Monero has been deobfuscated.
This operates similar to a mixnet where it is difficult to discern the originating address from a transaction. One of Monero's developers publicly admits that "zk-SNARKs provides much stronger untraceability characteristics than Monero (but a much smaller privacyset and much higher systemic risks)." Intelligence agencies have placed their eyes on Monero for some time. The United States has even brought in a private firm called CipherTrace who claims to have built tools capable of tracing transactions.[^32] At the time of writing, these are unsubstantiated claims; there is no evidence to suggest that Monero has been deobfuscated.
Pirate Chain's ARRR addresses the fungibility problem of Zcash by removing the transparent address schema (t-tx) and forcing all transactions to use Sapling shielded transactions (z-tx). "By consistently utilizing zk-SNARKs technology, Pirate leaves no usable metadata of user’s transactions on its blockchain." This means that even if the blockchain was compromised down the line, the adversary would obtain little to no useful metadata. The transactions contain no visible amount to no visible address from no visible address. The underlying cryptography would have to be broken or the viewing/spending keys would have to be intercepted in order to peer into the transactions. For an adversary without key possession, the trace is baseless. "A little bit of math can accomplish what all the guns and barbed wire can’t: a little bit of math can keep a secret." - Edward Snowden