INTRODUCTION TO Privcy COIN
PRiVCY Coin is a peer-to-peer cryptocurrency and can be termed as a modified version of the technology on which bitcoin was built as it allows completely private transactions, faster con-firmation rates and achieve consensus through the combination of Proof of Stake and Proof of Work technology, rather than depend on PoW only.
PRiVCY Coin enables instant, near-zero cost transactions to anyone anywhere in the world. It is an open source global payment network that is fully decentralized without being depen-dent on any centralized authority such as banks or governments. Fueled by Computation and secured by Mathematics, PRiVCY Coin network empowers individuals to control their own finances themselves. Being operated through TOR network— a highly secure private network— our blockchain network ensures that your wallet IP remains hidden for any tran-sactional activity, and so does your geographical location.
Furthermore, in pursuit of providing the much-needed privacy and ensuring that all tran-sactions remain totally anonymous, we have developed the combination of ToR and Crypto-graphy, which will be unique and ensure your transactions will not be traced back to you. It will increase your anonymity not 2 times, but almost 4 times. We want to create something accessible not only by our community but by everyone, where you will not need to register any personal information to get anonymity you deserve.
It resolves the problem associated with bitcoin by featuring faster transaction confirmation times and improved storage efficiency. PRiVCY Coin is a project that is created by the com-bined efforts of hundreds of technicians, miners, investors from all across the world. Out of the love and passion for the fintech, the team has always been trying to resolve the issues associated with in the cryptocurrency space. This leads us to the creation of a new digital asset, a coin that offers advanced features and efficiency on top of blockchain fork. Built on Bitcoin’s Bit Core platform, PRiVCY Coin will surely be more advanced than Bitcoin and would eventually become today’s leading cryptocurrency. PRiVCY Coin would continue the Bitcoin’s mission by taking control of finance from Banks and governments and give it back to the original deserving i.e. ordinary people, but with full privacy and offering faster speed, without relying on pools or centralized entities.
It’s a common misconception that Bitcoin and other cryptocurrencies are fully anonymous and transactions are private and untraceable. In fact, many blockchains only disguise users’ identities while leaving behind a public record of all transactions that have occurred on the blockchain. The data in the ledger often includes how many tokens a user has received or sent in historical transactions, as well as the balance of any cryptocurrency that they have within their wallet. There is a concern that even with their identities disguised, users can still be identified based on their activity within a blockchain. While it’s true that you can transact with bitcoin without having to provide your Social Security number or bank account, there’s still data on the digital ledger that could potentially be linked back to you. For instance, the Internal Revenue Service recently won a court case against cryptocurrency exchange Coinbase requiring it to hand over information on more than 14,300 users who’d exchanged more than $20,000 worth of bitcoin between 2013 and 2015. While the move was made, so that the IRS could possibly go after capital-gain tax evaders, the bigger theme here is that these transactions aren’t as anonymous as they appear. With PRiVCY Coin, users can enjoy the advantages of using blockchain, while still being sure that their information is private and completely anonymous. The amount of coins you own, send and receive are not observable, traceable nor linkable by way of transaction history on the Blockchain.
How we offer Privacy?
PRiVCY Coin uses TOR to send untraceable transactions. PRiVCY Coin also employs stealth addresses that allows the sender to use a one-time user address for their transactions, and this keeps the transaction private. The recipient only needs a single address, but before they receive the value that is sent, that block is sent to unique addresses on the chain where they cannot be connected to the sender or recipient’s personal address. This ensures that only the sender and receiver can consistently know where payments originated and where they were sent.
7.2 FASTER TRANSACTION CONFIRMATION TIME
Unlike Bitcoin that takes hours and sometime even days for a transaction to be confirmed, PRiVCY Coin will use technology that ensures transactions are much faster, no matter what the transactional load and frequency is. PRiVCY uses technology that allows PRiVCY Coin to compete with nearly instantaneous transaction systems such as credit cards for point-of-sale situations, while not relying on a centralized authority. Through the use of a consensus between Miners and Stakers, the signals of a transaction are locked and only spendable in a specific instant transaction. Widespread vendor acceptance of PRiVCY Coin and DS could re-volutionize PRiVCY Coin by shortening the delay in confirmation of transactions from as long as an hour (with Bitcoin) to as little as a few seconds, and as a result, will make PRiVCY Coin ideal for usage of daily transactional activities such as shopping, dining or hoteling etc.
7.3 DECENTRALIZED GOVERNANCE
PRiVCY Coin offers decentralized governance through achieving consensus by allowing com-munity i.e. PRiVCY Coin holders to participate and work as dedicated nodes PRiVCY Coin blockchain network. The blockchain is capable of handling any amount of transactional volu-me, all the time, without having the chances of the network getting down or showing any sign of sluggishness. All nodes have equal power and control. The currency is not created, maintai-ned nor represented by any one person or company, i.e. a central authority, and thus unlike traditional financial institutions that allow centralized control, PRiVCY Coin provides complete decentralization which means there is no risk of a single point of failure.
7.4 ENHANCED SECURITY
Based on the combination of Proof of Work(PoW) and Proof of Stake (PoS) consensus model, PRiVCY Coin will achieve distributed consensus for every transaction, thus enhancing the security of your digital assets. PRiVCY Coin enables you to get profound information on all transactions ever made. The code cannot be cracked or altered with unauthorized changes. The system is decentralized and securely protected against influence from single users.
7.5 EASY TRANSACTIONS
You can transfer PRiVCY Coin to anyone—anywhere in the world as long as the recipient is connected to the internet. All you have to do is ask for a receiver Wallet Address or Public Key and then input the number of coins you want to send in our dedicated wallet. Once you have entered the required information and confirmed, transactions would get confirmed within seconds. Every coin is worth the same value and is thus mutually interchangeable. No coin risks potential blacklisting nor debasement due to deprecating transaction history.
7.6 ENORMOUS POTENTIAL
You can be a part of a project that has the true potential of becoming the world’s leading payment system. More demand for PRiVCY Coin ecosystem over the time will raise the value of the coin itself. Investment in PRiVCY Coin will get profit from the raising price of PRiVCY Coin on the market exchange. The value of PRiVCY COIN will increase from market demand.
7.7 USER FRIENDLY AND DEDICATED WALLET
All transaction with PRiVCY Coin can be easily done by using PRiVCY Coin wallet application available on our website with any major operating system i.e. Windows, Linux and Mac. We are also working on the best and most secured Webwallet in the world. Furthermore, in future, we are planning to expand our wallet to be supported by famous wallets including hardware wallets. The encrypted technology of these wallets would allow you to secure your PRiVCY Coin, so that you can view transactions and your account balance.
PRiVCY Coin is designed to be portable. With the current major currencies, it is difficult to carry around large amounts of money. Cash amounting to millions is risky to carry for several reasons, which is why cryptocurrency investors prefer it to other currencies. With PRiVCY Coin, you can easily carry around a million dollars’ worth of PRiVCY Coin in a few MegaBytes worth of data space.
7.9 UTILITY AND ACCEPTABILITY
Unlike traditional cryptocurrencies that are struggling with their acceptability and mainly rely on exchanges and market supply and demand hype for controlling their value, PRiVCY Coin aims to provide inherent utility by getting accepted as a medium of account at PRiVCY Coin associated merchants. We are currently in negotiations with many merchants
Website : https://privcy.io/
BitcoinTalk Forum ANN : https://bitcointalk.org/index.php?topic=4503790.0
GitHub : https://github.com/privcycoin/privcy
Wallets download : https://github.com/privcycoin/privcy/releases/
WebWallet : https://privcy.zone/
Explorer : http://explorer.privcy.io/
Discord : https://discord.gg/tSKACwm
Faucet : http://faucet.privcy.io/
Twitter : https://twitter.com/PRiVCY_COIN
Facebook : https://www.facebook.com/PRiVCYCOIN/
Reddit : https://www.reddit.com/r/PRiVCY/
Instagram : https://www.instagram.com/privcy_official/
Follow Our Official Telegram Channel : https://t.me/PRiVCY_announcements
Join our Official Telegram Group : https://t.me/PRiVCY_community