How much privacy are we gaining in our transactions by using cryptocurrency coins such as Bitcoin, or Zcash. That is the question people have been asking in light of Former NSA employee Edward Snowden's revelation.
The National Security Agency wistleblower shed light on a program called "Monkeyrocket". Apparently, this service was supposed to add more anonymous factors to the use of bitcoin protocol. But, in fact is more of a trojan horse. Giving the NSA a great deal of information about the user, location, transactions, private keys, etc. How about that for privacy?
Zcash is a decentralized, cryptocurrency that provides users with privacy, utilizing something called zero-knowledge proofs cryptography called zk-SNARKs. It is superior to bitcoin in this aspect, concerning private transactions, while it is based off of bitcoins open source code. It is questionable wether users of Zcash have had their privacy breached by the NSA through monkeyrocket, I highly doubt that it has not been vulnerable from this type of trojan horse style information snooping.
Terrorist activity, and money laundering aspects of crypto , seem to be the key to the NSA justifying the surveylance. It is not surprising that this "monkeyrocket" program exists, with more and more people entering the cryptospace. Even today, the NSA could be spying on users of crypto. It will be up to us, the crypto community , to stay vigilant on keeping our rights from being violated by the government.
Any comments, suggestions, and donations are appreciated.
Thank you. Greg P.
[email protected]
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