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Dark Web And Crypto-currencies

The dark web uses unique technologies to conceal user activity. This gave them the freedom to share and access information without fear of being controlled by tech giants or authorities. It also opened the door for creative minds to explore what was possible in this new environment. This is how the ‘Silk Road’ marketplace was created.

Silk Road was the first marketplace to use bitcoin as a currency. Thanks to its popularity, the concept of cryptocurrencies has grown from a fringe idea to the most valuable financial asset in the world.

How does the dark web work?

The dark web uses complex systems that anonymize the user’s actual IP address. It isn’t easy to know which websites a device has visited, thanks to signal encryption. To achieve this goal, specific software is required, which is fortunately free. Today’s most popular software is The Onion Router or Tor, which uses .onion addresses.

What are “.onion” sites?

The only way to access dark websites using Tor is through .onion domains. These domains carry the .onion designation and are completely secure. It is important to note that .onion domains are not DNS roots of the Internet. This system aims to make it more difficult for an intermediary to identify the supplier of the information and the person accessing it.

How to go on the dark web?

All you have to do is download Tor by going to its website and clicking the download button. Open the installation file and choose your preferred language.

Complete the installation, open Tor, and select connect or configure depending on your network conditions. If you’re on a local network or using a VPN, click configure. Otherwise, click connect and start browsing.

If you are using a VPN, connect to the VPN before opening Tor. A VPN is not required to use Tor but is recommended to add an extra layer of protection and security.

Why go to the dark web?

There are several reasons why people continue to use the dark web:

An anonymous browser

Anonymity can sometimes mean the difference between life and death. Countries with the limited press or high political censorship invite their people to use the dark web to surf freely. It can also help people who have been cyber-bullied or are worried about their online banking security. The use of the dark web in these cases rarely involves illegal activities.

A space for freedom of expression

Tor’s hidden services can be used to report abuse or allow public members to share sensitive information, such as knowledge of crimes, without risk of retaliation.

A haven for activists

Activists from countries such as Russia, Iran, and China have taken to the dark web to voice their opinions and share information about their government. Sites such as WikiLeaks obtain some of their data through the dark web.

Additionally, activists can organize, recruit, and plan events without the authorities they are fighting oversight. They can also securely share information with the media and other organizations, ensuring their protection. This is the most important on the dark web of all the uses. Many peaceful protests and calls for democracy have started on obscure websites.

Marketplace

Sellers and buyers can sell goods and services completely anonymously. This method ensures reduced risk for all parties and allows greater freedom for creative minds. The preferred trading system on dark marketplaces is the ESCROW system, with cryptocurrencies as the currency of choice.

Also Read: Top 7 Web Prototyping Tools

Why are cryptocurrencies used to buy on the dark web?

Sellers and buyers on the dark web agree that cryptocurrency offers them greater privacy than traditional payment forms.

But this does not mean that all cryptocurrencies are used. People can track most cryptocurrency transactions through the blockchain. This is why only a handful of cryptocurrencies are currently accepted as a form of payment when buying or selling on the dark web.

What cryptocurrencies are used to buy or sell?

In the early days of the crypto revolution, vendors accepted all cryptocurrencies. However, only two cryptocurrencies are widely used on the dark web, while another remains an old currency.

Bitcoin

People have been using bitcoin on the dark web since the beginning of the dark web. Thanks to the Silk Road, the public and significant financial companies have recognized the cryptocurrency.

Today, BTC is an “old currency.” Its prominence and traceability have made it a lesser asset than before. The value of bitcoin has also made it less attractive for commercial transactions.

Monero

The Monero protocol hides the IP address of devices that produce transactions. New transactions go through a node in Monero’s peer-to-peer network. The node is chosen by a repeated probabilistic method that determines when the transaction should be sent to a single node or broadcast to many nodes in a flooding process.

Monero is so secure that the US government has offered a $625,000 reward to entrepreneurs who could develop tools to track a Monero transaction.

Zcash

Zcash has implemented a cryptographic tool called Zero-Knowledge Proof and offers participants the ability to protect transactions. It also allows participants to transact without revealing their addresses to others. Proof of lack of knowledge also conceals the amount and time of the transaction.

Zcash has quickly become the cryptocurrency of choice for anyone who values ​​privacy and prefers merchants not to use their purchases to determine their preferences or prevent identity theft.

Are purchases on the dark web with cryptocurrencies anonymous and untraceable?

Yes. All transactions made on the dark web are 100% untraceable and anonymous if the correct cryptocurrency is used.

Conclusion

People think that the dark web is full of illegal activities and malevolence. The reality is that the dark web offers a level of safety and security found nowhere else. From activist groups to people looking to buy a new couch, the dark web is where it all happens.

Hopefully, over time, more people will realize the value of online privacy and recognize the incredible value of using the dark web for day-to-day activities rather than traditional sites like Google.

Also Read: COVID-19: What Impact On The Cryptocurrency Market?

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