Connect with us

Bitcoin News

Behold Crypto Enthusiasts, a New Privacy Token ‘DAPS Coin’ Looks to Impress Consensus Crowd



Behold Crypto Enthusiasts, a New Privacy Token 'DAPS Coin' Looks to Impress Consensus Crowd

Behold Crypto Enthusiasts, a New Privacy Token 'DAPS Coin' Looks to Impress Consensus Crowd

Crypto enthusiasts and junkies can now look forward to a new privacy coin that is set to revolutionize the digital payments landscape as we know it. This comes at a time when there has never been a more rapidly growing market for privacy coins and DAPS Coins integrates some of the best ideas and pros of other existing privacy coins such as Monero and Dash. These good pointers are then channeled into a single blockchain via proof-of-stake and then backed by an outstanding Bulletproof Protocol. All in all, this has drastically contributed to the unexpected plummeting of the overall costs of all Monero transactions done in the past one year.

From a neutral point of view, the DAPS Coin does a lot to catch the eye thanks to every single detail that it incorporates. If anything, according to the project’s CTO – one Mr. Andrew Huntley – the new coin is unique in its own right for several reasons. One of these is the fact that they are in direct competition with other well-established and known privacy brands such as Dash and Zerocoin. However, they differ from these mainstream coins chiefly because theirs is a purely trustless setup rather than a being a relying on a staking medium. In simpler words, this means that they have gone out of their way to implement the lauded PoS to its full entirety.

That being said, its worth noting that the current and present masternode Implementations are all based on some degree or extent of centralization. On the other side of the spectrum, DAPS coin aims at integrating the new bulletproof protocol by mostly working around a given set of problems that are highlighted and crop up when the concept of proof-of-stake is brought about in the picture. This implies that it allows nodes attached to verify independently that the amount that other masternodes have by simply anonymizing the collection of funds if they have to be removed from the main masternode’s collateralization.

Now, it is vital to understand that DAPS Coin joins a hotly contested battle for the elusive ‘King of Privacy Coins’ in the larger crypto market. But, either way, the odds are looking to be in their favor considering that Zerocoin recently suffered a severe technical flaw in the privacy-enhancing and zero-knowledge technology. The flaw made all other coins whose operating background relied on them vulnerable to mass production of fake tokens and coins. Now, DAPS coin hopes to capitalize strongly on such a timely opening for market dominance. In fact, in the light of these new developments, many people believe that such privacy coins will be the hottest cake in the oven when the next bull run picks up.

Lastly, although DAPS Coin has not yet formally joined the mainnet, their token has been trading on various exchanges for some time now. And it is expected that as soon as they officially launch the blockchain in mainstream mainnet, all current DAPS holders will be in a position to exchange their ERC-20 for the new DAPS Coin.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Recent Posts

Copyright © 2019 The Crypto Report