Wraith Protocol Crypto Privacy Token WRAITH, supporting the WraithSecure Wallet, launches its test net Monday, September 20, to the great adoration of its fans of the Official $WRAITH Community Chat in Telegram. Utilizing built-in VPNs and mixing protocols, WraithSecure ensures that all outgoing transfers are anonymous. The protocol obscures online identities and addresses as well as transfer information.
One of the developers of the protocol explained the technology this way in a Telegram interview, “WraithSecure is at the forefront of the evolution of privacy conducting crypto transactions, creating a safe zone to keep the people’s personal information private from prying eyes. Contrary to other cryptocurrencies, the WraithSecure wallet and token will offer users an experience closer to what they would experience in the real world regarding privacy expectations. The wallet will interact with a range of privacy pools through a Chrome Extension integrated for assets, starting with BNB on the Binance Smart Chain. Take any supported token deposited in the WraithSecure wallet and make all transfers more anonymous when filtered through privacy pools. Funds are being sent to a smart contract specifically designed to mix them with other funds in the pool. Withdraw anytime wanted. The deposits and withdrawals made are secure and private, making it impossible to trace any actions. People viewing transfers made using the service will not be able to determine transaction history.” See the Video https:/youtube.com/WraithProtocol
Wraith Protocol Plans Include All Major Tokens in Time
Atlas, one of the company’s chief movers, stated in the interview, “Wraith will increase the number of tokens and blockchains supported by the WraithSecure Wallet over time. Developers are hard at work engineering the protocol to support a wide range of altcoins and stable coins on the Binance Smart Chain over the coming months. After that, WraithSecure will extend support to other Ethereum based networks such as Ethereum Main Net Then the Polygon Network (MATIC), the Tron Network (TRON), and the Neo Network (NEO/GAS), as well as bespoke & Ethereum based chains such as the OKExChain (OKB/OKT). Lastly, it will include BTC.”
Atlas added, “Wraith developers will continue to enhance the privacy and security of the product through encryption, decentralized networks, and secure messaging. Access controls such as 2FA will provide a ubiquitous one-stop solution for Defi and privacy and security-aware users for all financial needs. Wraith uses zk-SNARKs to overcome the privacy issue. Like Vitalik Buterin said on Twitter,” “ZK-SNARKs will be a significant revolution as they permeate the mainstream world over the next 10-20 years.” One of the WRAITH developers added a definition of what zk-SNARKs will do. “WraithSecure believes zk-SNARKs will play a vital role in a private and decentralized future. By using a zk-SNARK, one can prove they possess certain information without revealing it. Most Wraith users won’t even know they’re using zk-SNARKs. The WraithSecure Wallet, the first-ever Chrome extension of its kind, allows the user an untraceable identity utilizing zk-SNARK technology. “
The Importance of WraithSecure Privacy for Crypto Transactions Online
A spokesperson for Wraith Protocol said, “As blockchain and crypto technology evolves, it will include sending money to paying bills and shopping online for much of the world. And that’s become critically important as the Covid-19 pandemic changes the way people do business. Privacy coins have had a lot of bad things said about them in the news, that they are something nefarious and only to be used for illegal activity, but that’s not true at all. Doors on houses or passwords for bank accounts are precautions most people take, even if it is claimed claim there is nothing to hide. It is the same concept being applied to cryptocurrency here at Wraith Protocol”
The transfer of personal financial information through digital networks raises the critical question: How much personal data online is protected and private? A 2020 study published by a global audit firm KPMG stated, “87% of consumers say data privacy is a basic human right. Yet 68% say they don’t trust companies and governments observing their business and data.”
Disclaimer: The information on this page does not constitute investment advice, financial advice, trading advice, or any other form of advice, and it should not be regarded as such. All opinions expressed on this site are those of third parties. This site does not recommend any specific cryptocurrency be bought, sold, or held, or that any crypto investment be made. The Crypto market is high-risk and unproven. Before making any investment decisions, readers should do their own research and consult a professional financial advisor.
401 S Twin Creek Dr APT 9C, TX
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.