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This action has, in their eyes, created a centralized trend and reliance on a central authority. acronym: D – DecentralizationĪll of the Dark coins believe very strongly that the switch from proof of stake to proof of work involved too much corporate interests for infrastructure demands.
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These rules are adopted by most of the dark currencies, and are represented by the D.A.R.K. They believe these ideals will safeguard the newly established crypto community from ever becoming more centralized and controlled by elites or small segments of the community. BitcoinDarkīitcoinDark represents a set of four ideals that they claim are what makes the currency the bastion for decentralized enthusiasts across the world. Recent protocol updates to platforms such as Ethereum and Bitcoin have made this group think that cryptocurrencies are beginning to be steered in a more centralized and controlled manner, something they disapprove of. This group saw cryptocurrencies as the perfect opportunity to allow for an openly auditable and anonymous, private way to transact and exchange value on the internet.ĭark coins were established by this group because they believe that centralized entities have begun to wrap their hands around the crypto movement. These loyalists believe that information and data are the stores of value for the future of the internet. As we saw in the financial crash of 2008, our data and money cannot be trusted by a group of a few people that control millions of dollars.
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We have seen corporate giants such as Google and Facebook make hundreds of millions of dollars off of the data that its users contribute everyday, without being held accountable or even having the option of keeping any of it private. They cited that cryptography was essential for online privacy, and that it would allow users to be able to selectively choose who to share data and information with, and what type of info as well.įast forward to 2018, and these technologies are now entering the mainstream via cryptocurrency and blockchain technology. They believed privacy was having the ability selectively disclose information as it was needed for verification, and that security was keeping sensitive information completely safe and protected from scrutiny by any online presence. They were particularly concerned with cryptography and the difference between privacy and security. In 1993, a group of privacy enthusiasts argued that people’s security and privacy on the internet was at jeopardy due to the ever growing growth of trackers on the internet. Companies can use the internet to gather unprecedented amounts of information about users without their consent or knowledge of this event even occurring. These loyalists point to a critical piece of writing from the early 90’s that identified a need for a new form of internet that ensured privacy and security in an age of ever increasing mass communication of data. These Dark coins represent the ideals of a faction of enthusiasts that are very loyal to the original decentralized manifesto and its associated ideals. BitcoinDark and EthereumDark have both sprung onto the scene and released some controversial information in their manifestos. What Are “DARK” Coins and How Do They Work?Ī phenomenon of Dark coins have recently entered the cryptocurrency space and begun to adopt the names of some of the top cryptocurrencies.