Privatixy Protocol (PXP), Monero (XMR), and ZCash (ZEC): The Future of Privacy Tokens Beyond the Bearish Market Run 2022
Privatixy tokens are vital types of cryptocurrencies in the coin market majorly concerned about data security and user privacy. Despite this beneficial use case and high adoption potential, their popularity in the cryptocurrency market hasn’t lived up to expectations. Popularity is part of the criteria to measure a coin’s success in the crypto market as it affects adoption potential and also reflects the market value in a way.
While privacy tokens haven’t been very popular, Monero (XMR) and Zcash (ZEC) have been putting up a good fight to avoid being swept off by the tides of other giant cryptocurrencies, especially in the bear market rally. Analysts have predicted that in the coming years, the demand and adoption of privacy tokens will soar, as new privacy-related projects will hit the market with several unique features.
Privatixy Protocol (PXP) is one of those privacy projects that’ll hit the market, with improved features, use cases, and uniqueness. Privatixy Protocol (PXP) will be part of tokens that revolutionize the privacy aspect of the crypto market, and we review how the token and forerunners like Montero (XMR) and Zcash (ZEC) will fare beyond the bearish market run.
Monero (XMR) launched in 2014 with the aim of enhancing private and anonymous transactions on blockchains. The platform leverages an advanced cryptography mechanism to conceal the identity of a sender or recipient of digital assets, and also the transaction details.
The payment platform allows swift and cost-effective transactions without censorship or third-party control. Monero (XMR) prioritizes data privacy and security with efficiency and ease of use coming second. The developers are constantly working to make the platform as decentralized as possible.
Monero (XMR) is completely fungible and leverages ring signatures to achieve its optimum obscurity. Use of stealth address, splitting transaction amount into chunks, using past transaction outputs as decoy, etc., are some mechanisms Monero (XMR) utilizes to remain one of the best privacy tokens.
Monero (XMR) ranks one of the top 30 cryptocurrencies in terms of market value, on the CoinMarketcap, with over $2 billion market cap. It reached an all time high of about $517.62 in 2021, and may be on course to achieve such a feat again after the bear market rally recedes.
Monero (XMR) currently sells at a market price of $100+, and indications that this price could double after the bear market are much. Thus, it is worth looking into as a potential purchase (not financial advice).
Zcash (ZEC) is a decentralized protocol that aims to uphold the privacy and anonymity of cryptocurrency transactions. The network leverages a special technology (zk-SNARK) to achieve this. Unlike conventional cryptocurrencies where it’s possible to trace transaction source and know the amount, Zcash (ZEC) and Monero (XMR) do not reveal any details about transactions.
However, Zcash (ZEC) gives the option of revealing data if there’s a need for auditing or compliance with a regulatory directive. Thus, transactions on the network can be transparent or shielded. The ecosystem is based on the BTC codebase, which is why the Zcash transaction mechanism follows the same pattern with that of Bitcoin (BTC).
Zcash (ZEC) boasts over $800 million in market value, making it one of top 60 cryptocurrencies by market capitalization. Six years ago, it reached an all-time high of about $5900+ but has suffered over 98.99% decline in price since then. There are no indications or optimism amongst enthusiasts about Zcash reaching its Ath anytime soon. However, experts believe it will make some upward movements beyond its $50+ current market price, after the bear rally. This could make it a good purchase in months to come.
Privatixy Protocol (PXP)
Privatixy Protocol (PXP) is an open-source and decentralized blockchain technology that aims to improve transaction transparency and allow users to govern their data flow, without compromising their privacy. It uses the same zero-knowledge-proof technology with Zcash (Zec) to ensure optimum privacy, security, scalability, and simplicity.
The privacy-preserving network aims to integrate web3 technologies in its ecosystem to allow multi-chain interoperability. PXP is the ecosystem’s native token. It can be acquired via purchase from decentralized exchanges, or through staking. The token will serve several utilities including staking, rewards, governance, and web3.
The Privatixy protocol (PXP) will allow and reward liquidity provision, integrate the use of smart contracts, and also enable the transfer of digital assets between users, on different blockchain platforms. These features give the Privatixy protocol a strong use case in Defi.
The PXP token which powers the Privatixy protocol will soon be available on presale at a low price. It’ll be best to purchase it at an early stage as the Defi privacy token boasts all it needs to achieve a favorable market run after launching.