“Privacy is a right, not a privilege.”
DAPS Coin is getting ready to launch in a market of privacy coins that is ever growing. DAPS coin, or decentralised anonymous payment system, uses some of the best ideas from other projects like Monero and Dash and utilises them all into one blockchain using a proof-of-stake.
If you can see it from a technical standpoint, DAPS Coin is intriguing because of all the things it integrates. The firm’s CTO, Andrew Huntley has said that the project is a one of a kind, saying:
“We are direct competitors to those well-established [privacy coin] brands. What we’ve done is completely different from Monero. Where Zerocoin and Dash are staking coins – but their setups have to be a trusted setup. We don’t have that. Ours is a completely trustless scenario where we have implemented PoS in its entirety, but we’ve also managed to take the parts of Monero, which is the ring confidential transactions, which some people said was impossible to do on a staking chain.”
The CTO went on to explain that the current Masternode integrations have somewhat of a degree towards centralisation. He said that DAPS coin is able to implement a bulletproof protocol by working around certain technical problems presented by proof-of-stake.
“Namely, it enables nodes to verify the amount that a masternode holds but anonymizing the funds if they are removed from the masternode’s collateralization.”
The CEO of the private coin, Adel de Meyer has said that she believes the project ”appeal to large companies who would like to use crypto but need a higher degree of privacy.”
The project believes that by having a focused and dedicated team effort and a corporate structure overseeing progress, they will be able to achieve greater traction than some privacy coins have so far.
DAPS enter a very niche sector of the market where there is a lot of competition.
DAPS Coin is going to be at Consensus this year so make sure you check them out if you’re going.