Most transactions that take place on the deepweb utilize some form of cryptocurrency. Bitcoin and Ethereum have dominated the market for the longest time, but with the growing realization that neither form of digital currency is completely anonymous, many users have been seeking alternatives. One such alternative is Monero; a currency that both AlphaBay and Oasis just announced can be used on their marketplaces.
Unlike Bitcoin forks, Monero is based on the CryptoNote protocol and has significant algorithmic differences in regard to blockchain obfuscation. By the very nature of the CryptoNote protocol, transactions cannot be traced through the blockchain in a way that reveals who sent or received coins – a feature that both Bitcoin and related forks inherently lack. (Note that being able to trace Bitcoin transactions through the blockchain is not a design flaw. It’s a feature, instead.)
With Monero, there is no tracing the transactions. Although the cryptocurrency has had a growing market value of up to $20m since it launched in 2014, the small user-base hasn’t received the kind of response one might expect from a