Crypto Project Decred Adds Privacy Features to Its Coin

"Decred has implemented a variant of CoinShuffle++ in its wallet. Although it is possible to perform this process in an entirely peer-to-peer fashion, that overlooks constraints that come from routing over the public internet, so we have created both a server, csppserver, and integrated the client into dcrwallet. It is expected that roughly 12.5% of all decred in circulation will make use of privacy within a few months."

Jake Yocom-Piatt, co-founder and project lead at Decred, explained that his team has been working quietly to add these privacy features to the coin since 2017, and that they comprise only a few hundred lines of code, compared to thousands or tens of thousands for other privacy-focused projects.

"With these foundations in place, we are keen to build out privacy features that will enhance security for our users."

Decred is an open-source blockchain-based cryptocurrency that was created by several crypto-enthusiasts claiming that Bitcoin's decision-making was getting more and more centralized due to the existence of mining pools.

At press time, DCR is trading at around $22.5 and has a market capitalization of $252 million, according to Coin360.

As Cointelegraph reported on July 19, privacy-focused digital currency Zcash has forked into a new blockchain network dubbed Ycash, whose total supply amounts to 21 million coins.