GizmoQuest Computing Lab

🔬✨ We're thrilled to announce the upcoming DeSci Kolkata: A 4-Day Ideathon on Decentralized Science happening from 5th-8th March 2024! 💡

Join us at the Blob Co-working Space for an immersive event where we dive deep into the potential of decentralized science. Let's unlock knowledge together and explore how we can independently shape the future of scientific discovery.

📆 Dates: March 5-8, 2024
📍 Location: 7th Floor, Yamuna Building, 86, Golaghata Rd, Dakshindari, Kolkata - 700048, West Bengal, India

No entry fee, just your time and ideas! 😉
RSVP now at +918777062387 or email us at [email protected].

For more information and online participation, visit our website: descindia.org.

To confirm your visit, you can check here:

https://www.eventbrite.com/e/desci-kolkata-a-4-day-ideathon-on-decentralized-science-tickets-800585702387

This event is organized by GizmoQuest Computing Lab and powered by https://DeSci.World, x.com/DeSciAsia, and https://NuNet.io.

Let's come together to empower science and innovation! 🌟

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

This confusion and chaos has been driven by the recent about the government apparently confused whether to do a or .

All those news articles that sprung up about the , initially were based upon this generic understanding that all are private in nature.

The term means and based on the idea of . It establishes a level of secrecy among transacting users.

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 .

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 .

is directly proportional to .

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 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 developers, as it very intelligently manages to handle both KYC and non-KYC users.

References:

Know Your Coins: Public vs. Private Cryptocurrencies https://www.nasdaq.com/articles/know-your-coins-public-vs-private-cryptocurrencies-2017-09-22

Explain Like I’m Not a Developer: Taproot Privacy
https://braiins.com/blog/explain-like-im-not-a-developer-taproot-privacy