Report Shows Bitcoin is Still First Choice on Darkweb

On May 7, 2020

A recently circulated research from Thinktank Rand Corporation’s recently circulated research searched out the purpose of the hideaway centric cryptocurrency Zcash among culprits. Probably according to the statement bitcoin is yet leading one.

Initially documented by Forbes, the Electric Coin Company, the company behind Zcash – delegated the research that broadcasted on May 6. Zcash “has only a minor presence on the dark web,” as per the report by the think tank, “indicating that Zcash is seen as a less attractive option to dark web users and is used less often compared to other cryptocurrencies, particularly Bitcoin and Monero.”

Exactly, Rand glimpsed over the three areas: money laundering, terrorism financing, and illicit goods trade, of which Zcash clearly added a minor position, described in relation to further widely employed cryptocurrencies in the context.

As per the statement “While there are certainly some indications or anecdotal evidence that Zcash may have been used or advertised for illicit purposes, there is no evidence of widespread illicit use of Zcash. Of course, the absence of evidence does not equate to evidence of absence, meaning that enduring vigilance against malicious use of this cryptocurrency is nonetheless important, “.

“We didn’t find any significant evidence that the cash was used for illicit activities, but also as we know, that doesn’t mean that cash isn’t at all used for illicit activity,” Rand Europe judge Erik Silfversten was mentioned as proclaiming by Forbes. “We have to look at technology as a neutral, that it could be used for a wide variety of applications, and then we have to look at the actual evidence.”

The outcomes sounds, circulated in late October by The Block Research, that governs bitcoin, Monero, and litecoin which are the broadly often employed cryptocurrencies by dark web marketplaces.