Most #cryptocurrency exchange owners and #newschannels in #India seem to be pretty much clueless about what the exact definition of a private cryptocurrency is.

Thread continued👇
This confusion and chaos has been driven by the recent #hysteria about the government apparently confused whether to do a #cryptoban or #regulatecrypto.
All those news articles that sprung up about the #fakeban, initially were based upon this generic understanding that all #cryptocurrencies are private in nature.
The term #crypto means #encrypted and based on the idea of #cryptography. It establishes a level of secrecy among transacting users.
#Nasdaq has differentiated between private and public cryptocurrencies 4 years back.

However, the explanation for each of them seems to be difficult to understand for all.
Simply said, private cryptocurrency is defined as a cryptocurrency which is very privacy friendly and very difficult to trace in terms of transaction information. An example for a private crypto coin is Monero.

Lookup #privatekeys.
On the other hand, public cryptocurrency is defined as a cryptocurrency which is very public and transparent, making it traceable in terms of transaction information. An example for a public crypto coin is Bitcoin.

Lookup #publickeys.
#Privacy is directly proportional to #Anonymity.

Therefore, judging by the degree of anonymity, private coins rank much higher on that regard than public coins.
On November 2021 (last week), Bitcoin implemented an update called #Taproot that greatly revolutionizes transparency in terms of the transaction aspect.
Be it a private or public coin, this update should be embraced by all kinds of #Blockchain developers, as it very intelligently manages to handle both KYC and non-KYC users.

Know Your Coins: Public vs. Private Cryptocurrencies…

Explain Like I’m Not a Developer: Taproot Privacy…

#CryptoInvestment #Cryptos #CryptoTwitter

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More from @iAvimanyu

11 May 20
#Reviews on the use of #war metaphors for health workers amidst #coronaviruses & #CoViD19, explain why using #hashtags such as #CoronaSaviours and #CoronaWarriors can fuel the coexistent #infodemic, graver than the #pandemic itself!

@UN @deespeak @fayedsouza @iHrithik

"Of course, we all want to contain the virus, posthaste, and to treat as many as patients as we possibly can. But to do so under the banner of war implies the necessity of a heedless approach that leaves both doctors and patients open to an indefensible level of risk."
Read 16 tweets

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