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New LEOcoin Wallet Deployment Activates Privacy Features 

Avatar Yashu Gola 3 years ago

LEOcoin is all set to make history in the world of cryptocurrency with its latest wallet deployment.

The decentralized peer-to-peer network, which proposes to offer cryptocurrency users faster and more secure transactions, recently activated a couple of privacy features, as it deployed a completely new and improved protocol — PoSv3 — in the latest wallet upgrade.

So effectively, LEOcoin wallet’s latest version offers users with two substantial features: private chat and anonymous transactions.

The crypto world has witnessed the limitations of even the top cryptocurrencies like Bitcoin when it comes to ensuring anonymity for users. While there are attempts towards achieving the goal with the advent of new and improved altcoins, only a few have substantial proofs of achieving the said goal.

LEOcoin, on the other hand, has proudly introduced a feature that ensures private transactions within a closed network loop. Mihir Magudia, the Executive Director at the LEOcoin Foundation, stated:

“We are doing things with LEOcoin that no coin in the world has ever done before. We are breaking new grounds with our privacy enhancements.”

The statement evidently applies on the LEOcoin chat feature as well. P2P Instant Messaging system utilizing state-of-the-art encryption technology protects communication between the two different wallet addresses from snooping. Even LEOcoin won’t be able to crash between users’ chats.

How to Activate Privacy Features

The new LEOcoin protocol upgrade has come with a minor tweak to the previous client. As confirmed by Magudia himself, the holders of LEOcoin coins will be required to migrate their tokens to a new wallet version before the 21st of July. He stated:

“This process is very simple: If you hold your coins on your computer, or on your mobile phone, you must upgrade them. You must go to the LEOcoin website and download a new wallet.”

“If you are already a member,” added Magudia, “and you hold all of your coins on the member-to-member platform, then it’s very easy for you. All you need to do is tick ok in your back office, and your coins will be upgraded.”

Old coins can also be migrated here:

LEOcoin looks ready for mass adoption. It is built with a focus on the community values and the decentralization spirit.

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN...

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