Today so much Zcash (ZEC) as Dash (DASH), two of the best-known privacy currencies, have been associated with Chainalysis.
By the way, after the launch of Codefi today, which allows tracking transactions with the well-known KYT (Know Your Transaction), the community went crazy and realized that this tool can also track privacy-focused cryptocurrencies, such as Zcash and Dash .
The position Coin Electric Company (CEE), however, is very clear and explains how armored transactions will not be tracked by Chainalysis because, due to their anonymous nature, they cannot be tracked.
How Dash and Zcash work
Dash offers an optional solution, PrivateSend at no charge, that allows you to mix transactions and then blur them.
This is a feature that the user can choose to use or not, which is not configured by default.
A similar argument can be made with the Zcash (ZEC) blockchain that provides the ability to conduct normal, partially shielded, and fully shielded transactions, so that only those using fully shielded transactions would be safe from tracking systems.
In any case, the Zcash related data They are encouraging and play in favor of this blockchain which has recently seen a 70% increase in armored transactions, although criticism is not slow from users like Whale Panda and Riccardo Spagni Monero harshly criticized the Zcash blockchain for having paid for exchanges to include ZEC.
Is there a secure cryptocurrency?
Certainly, Monero (XMR) is one of the cryptocurrencies that guarantees a high level of privacy to carry out transactions protected from prying eyes.
Finally, to overcome privacy issues, it is also possible to always use a different address or use transaction blending systems like Wasabiwhich is so reliable that even Europol had to intervene to verify your work.