Recently BitStil (reviewed here) added another update from World Crypto Market to its “News” page on the website. This time they are talking about such cryptocurrencies as: Monero and ZCash which well-known as coins providing transactions from one to another address with privacy capabilities

I’m sure there are some EN readers who own Monero or ZCash, but such information may be useful not only for them, but also for those who did not know anything about these coins yet …

Let’s read:

Monero (XMR) and ZCash (ZEC) Surge 8% After U.S. Targets Encryption.
 
Both Monero (XMR) and ZCash (ZEC) have surged approximately 8% in the past 24 hours despite stagnation in the Bitcoin price. This latest rally makes the two privacy-focused cryptocurrencies some of the best-performing digital assets of the past day.
 
It appears that this rally is related to news that the U.S. government is targeting encryption.
 
Analysts say that this ongoing move higher comes in response to a statement from the U.S. Department of Justice (DOJ) indicating that companies should install encryption backdoors.
 
In a statement released on October 11th, the DOJ said:
“We call on technology companies to work with governments to take the following steps, focused on reasonable, technically feasible solutions: Embed the safety of the public in system designs… Enable law enforcement access to content in a readable and usable format where an authorisation is lawfully issued… Engage in consultation with governments and other stakeholders to facilitate legal access.”
 
Where Monero and ZCash fit in is that they are technologies that are already deployed, meaning that a backdoor cannot be installed, at least not without people noticing.
 
Monero and ZCash do have privacy capabilities. And in a world where companies are meant to “embed the safety of the public in system designs,” which may harm privacy, decentralized cryptocurrencies that are provably anonymous gain value.
 
Join BitStil and bring your life quality to a whole new level!

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