The crypto market has been on a downward trajectory since the tail end of 2021. In early May 2022, it culminated in a dip that impacted traditional markets just as hard. The recent bust removed some speculation from the market. But the shakeup is different than in the past. There are still many more active users utilizing the Bitcoin network than we have seen in past cycles. Many more holders and true believers made it through to the other side. However, as this increases over time, one of the concerns some have over Bitcoin (BTC) may impact its adoption. There is an economic incentive, not just utility, that privacy coins can offer as a solution.
At different points in the first half of 2022, both in crypto market rallies and huge dumps, privacy coins such as Monero (XMR), Dash (DASH) and Zcash (ZEC) have fared relatively well against other altcoins. Does this mean there is an underlying demand for interest in crypto privacy?
For the sake of this discussion, let us presume that Bitcoin made it. Bitcoin is now the dominant currency globally. But due to the pseudo-anonymous nature of the Bitcoin blockchain, anyone can see all of the transactions for each wallet. And for each coffee purchased, the spending habits of the buyer, the location where the spending took place and all the other dystopian trappings of a 1984-inspired nightmare are a reality. This nightmare is what has spurred on the creation of the likes of Monero, Zcash, Dash, Decred (DCR), Secret (SCRT) and Horizen (ZEN), just to name a few. Some of these have similar qualities to Bitcoin. Zcash is modeled very similarly to Bitcoin with a 21 million hard cap supply and operates by proof-of-work.
Could it be out of the question that one or two of these blockchain
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