Is cryptocurrency encouraging dark web usage?

Good question.

To get an answer to this, let’s first understand what the dark web is.

Dark web is a section of the internet that is encrypted and is not normally visible to regular internet users. In other words, it is the internet's hidden world. Sounds shady, doesn't it? It sort of is.

The dark web is notorious for being a platform for illegal drug trade, the exchange of stolen data, and so on. But that is only one side of the coin. The dark web also serves as a platform for political dissidents, or people who disagree with the majority viewpoint and need a safe place to express themselves without jeopardizing their careers or lives.

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The most significant disadvantage and benefit of the dark web is anonymity. No one's true identity is revealed. Anonymity allows people with revolutionary ideas and thoughts to spread them, be bold, and say things that are disruptive but true. On the other hand, it encourages illegal activities because they are never caught.

Now, going back to the connection between dark web and cryptocurrency. In the world of dark web, cryptocurrency is the currency. All legal and illegal transactions take place there using Bitcoin, Litecoin, Monero, Ethereum, and other cryptocurrencies. Bitcoin used to have a monopoly on the dark web, but that is no longer the case. As a result, cryptocurrency facilitates transactions on the dark web.

However, illegal trading also happens with fiat currency in the real world. Does that mean money promotes illegal practices in the world? Should money be banned? No.

Strong regulations and their enforcement should be used to put a stop to illegal practices.

The same is true of the dark web. Cryptocurrencies are mined using blockchain technology, which is one of the most secure and safe technologies ever created by humans. Its applications are limitless. The fact that it is being used in the dark web for drug trade or trafficking, on the other hand, is neither good for the world nor for the future of cryptocurrency. As a result, policy regulations must be used to control illegal activities rather than instilling irrational fear in the general public about cryptocurrencies.

Dark web has many nuances that are beyond the scope of this article, as are the debates surrounding it. However, the next time someone claims that cryptocurrency is promoting the dark web, you'll have an answer.