According to recent data, the increase in this type of transaction increased since last February.
According to figures that Zcash manages, the number of transactions that this platform conducts has experienced a significant increase in last April. Zcash evaluations resulted in a considerable number of armored transactions that the company conducted in recent months. The adoption of these types of transactions may be an indicator of the dramatic change in the global financial sectors.
A user published the data through a public forum he dedicated to the platform of Zcash. The forum participant showed graphs that reflect the significant increase the platform has had during each month of this year, especially since last February.
The first graph indicates that, in February, the armored transactions reached 2,430. However, last March, these types of transactions obtained an increase of 112 %, managing to register some 5,172 transactions. In the following month of April, these operations continued increasing, achieving 68% more than in March. The graph reflected that the platform executed 8,712 armored transactions the last month.
The armored transactions conducted through the platform of Zcash offer users a higher level of privacy and security. That is one of its main benefits. The platform ensures the absolute confidentiality of those involved in the transaction, as well as the number of cryptocurrencies they transferred.
Furthermore, these high levels of privacy do not allow these transactions to be traceable, preventing hackers from obtaining information on the financial activities of the users.
Currently, some manageable applications allow crypto users to use Zcash’s network armored transaction method. A smartphone app is also available. This app helps the user to conduct these transactions, in addition to having a cryptocurrency wallet.
Privacy in Transactions Make the Authorities Nervous
The user who disclosed the data claimed that it was difficult to obtain the information. He said he had to use advanced computational techniques to find this information.
These types of transactions with high levels of security may be the main reason why some authorities consider the use of cryptocurrencies as dangerous. Unable to obtain detailed information on the transactions or on those who conduct them, the security agencies do not have enough tools to determine the use of these assets or their provenance. Legal authorities in some countries argue that they can use these types of alternatives to finance terrorism or corruption.
Some press reports indicate that another similar network is taking a greater presence among the rescues that some hackers ask on the Internet. According to these reports, the Monero cryptocurrency has a shielding system that makes it impossible to obtain information about the transactions or the user.
The European Police Office (Europol) noted, in a report, that using this cryptocurrency, in conjunction with the Tor browser, makes it impossible to trace the origin or destination of the transaction. For this reason, the European Police Office sees with concern the use of these technologies.
By María Rodríguez