There is a new breed of digital currencies making its way into the global digital economy. They are completely different from bitcoin and other altcoins that are based on it. These new digital currencies are known as identifiable digital currencies. Unlike bitcoin, identifiable digital currencies require the users to provide their identity and verify the same before executing any transaction.
Nobody cared about bitcoin in the early days. Bitcoin, when it was first introduced was categorized along with other digital game currencies back then. The main reason for bitcoin to gain popularity, or should we say notoriety was its widespread adoption among deep web users because of a certain degree of anonymity associated with it.
Bitcoin has come a long way since then. Bitcoin community is growing in a rapid pace and the digital currency is now widely used across the world. With increasing bitcoin usage, the very property that led to its popularity has now become a cause of concern. Bitcoin is pseudonymous in nature. Even though bitcoin transactions are transparent and can easily be tracked to wallets, identifying the person or an entity owning a particular wallet is not an easy task. It requires a lot of resources and time