Anonymity has long been an issue as far as the digital currency space is concerned. Since Bitcoin does not offer privacy of transactions, a number of competitive cryptocurrencies have come up with functionality addressing this drawback.
One of them is LEOcoin, promoting itself as a “private form of digital cash”. According to its developers, the altcoin’s network offers full protection of users’ personal information such as name, home address and bank details.
The new privacy feature has been introduced in a series of screenshots to acquaint the community with the enhanced functionality of the wallet.
Dan Anderson, Chairman of the LEOcoin Foundation, is excited to comment on the upgrade. He explains that the private option is based on Ring of Trust Technology which carries out the transaction without revealing the original sending address. In essence, that means coins from the original wallet are destroyed once sent and then created once again before arriving with the recipient.
A range of small enterprises, which is LEOcoin’s target market segment, have already been attracted by the new feature.