CrypticCoin (CRYP) is a decentralized and open-source cryptocurrency that aims to connect best practices regarding the privacy and anonymity for its users. CrypticCoin allows users to engage in direct transactions rapidly and a high level of privacy.
Cryptocurrencies are based on blockchains, in which payment transactions are stored “as is” in a decentralized ledger. Because the blockchain is public, the details such as a sender public address, recipient public address, and payment amount about each transaction as well as the history of all transactions can be viewed by anyone.
While public addresses are not explicitly tied to users’ real identities, there are ways how to learn more about users, their spending habits and relationships with each other using information stored in most blockchains. In most cases, wallets used for making transactions do not support anonymity features while connecting to blockchain nodes. A user’s location can be determined by IP address of the used device and privacy of the transaction is eliminated.
CrypticCoin allows users to engage in direct transactions rapidly and with a high level of privacy. The goal is to integrate the most proven privacy and anonymity technologies in CrypticCoin so that CrypticCoin can offer its users various mechanisms for ensuring transaction confidentiality.