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Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.
Today’s episode explains what the dark web is, and what crypto can possibly have to do with it.
Dark web - that sounds dangerous and mysterious! What it really refers to is the part of the internet that search engines like Google don’t easily reach. That means getting a peek into them is much harder.
Oftentimes this could simply be because Google can’t see it all. One example are websites that need you to log in as a user to see the content, which is something Google can’t do with their computers that analyze a page. Lots of Facebook could be considered the dark web for example, despite it being just a social network.
But there are also dark web pages that want search engines to stay out. A famous example is the illegal drug marketplace Silk Road, where one was able to buy drugs in exchange for crypto currency.
So, what does crypto have to do with it? Well, in some peoples’ opinion, crypto is the payment method of choice for criminals, and by that logic the dark web must be powered by it. According to Coinbase though, less than a percent of crypto transactions have actually been found to be illegal though, which makes it much cleaner than good old fashioned cash.
And because crypto has a transaction trail that everyone can see, only dumb criminals should prefer it over cash, since the latter is mostly untraceable.
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