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How Spectrecoin Keeps Transactions Private: An Illustrated Guide

People value their privacy, especially when it comes to financial transactions. Others, such as tax authorities, law enforcement, authoritarian governments or simply hackers, want to know who’s transacting with whom and for what purpose, and often want to maintain some form of control over the process or influence it.

Whatever the rationale for or against privacy, the opposing forces at play create typical cycles of innovation: the need for anonymity creates new, innovative ways to protect privacy, which in turn results in innovative approaches to break the privacy, in turn leading to further privacy enhancing innovation … and so the cycle continues.

Bitcoin, the granddaddy of cryptocurrencies, was originally devised as a currency for peer-to-peer payments without having the…

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