Apollo strives to be an unregulatable and untraceable cryptocurrency, giving users maximum privacy and anonymity. The Olympus Protocol will combine various features to accomplish just that. These features include IP Masking, Private (and Public) Transaction Options, Integrated Decentralized Exchange and Coin Shuffling.
The decentralized exchange integrated into Apollo will allow anyone to buy, sell and trade with absolute secrecy, because the exchange is 100% decentralized and not run by any entity. No IDs are ever needed because there are no know-your-customer (KYC) requirements within a decentralized exchange. Your IP address will also be masked, and you can send private transactions directly from the exchange.
With Olympus Protocol, you will have the option to conceal the wallet address of both sender and receiver. You can also mask your IP address, which prevents third parties from tracking your physical location.
These features make senders and receivers safer since cyber criminals are known to use sophisticated methods to trace investors’ real-world location in order to harm and extort digital funds. Moreover, extra layers of security ensure that there isn’t any single failure point. A proxy server or web browser could be compromised. The point is, it’s key to have backup protection to give users multiple lines of defense.
Another security feature of Apollo is coin shuffling. This empowers you to “shuffle” (randomize) Apollo coins as well as other cryptocurrencies held in an account. These can be randomly shuffled between user accounts which means you can anonymize your balance nearly instantly.
The Apollo team believes that multiple tools are needed to protect your financial privacy in an increasingly regulated crypto market. Government agencies are increasingly expanding their reach to become cross border enforcers of local laws, even if such multi-jurisdictional enforcement represents an overreach of authority.
Moreover, U.S. agencies such as Securities and Exchange Commission (SEC), Internal Revenue Service (IRS) and FBI are beginning to pay blockchain analytics firms to identify and track investors. And this practice will likely continue because bureaucrats are struggling to understand and monitor crypto activities which means they must use hire crypto experts to trace token holders.
It’s a dangerous world. Privacy and anonymity help to protect investors.