Dash originally advertised with a focus on data protection.
Dash ( DASH ) has long been perceived as one of the best anonymity-specialized cryptocurrencies in the industry, but this reading now seems to be history, because the Dash Core Group, the operator and developer behind the project, no longer wants to be a “privacy asset” or Privacy cryptocurrency are classified.
Dash Core Group CMO Fernando Gutierrez said in an interview with Cointelegraph when asked whether Dash is a data protection cryptocurrency:
“No, Dash is a payment cryptocurrency that focuses on its practical usability, i.e. on criteria such as speed, cost efficiency, user-friendliness and user security through optional data protection.”
Dash was originally founded in 2014 as a fork of Bitcoin, the project initially being known as XCoin, before the name was changed to Darkcoin and finally to Dash. The cryptocurrency advertised with its special focus on data protection . “Dash is a data protection-oriented cryptocurrency based on the work of Bitcoin founder Satoshi Nakamoto,” as it was called in the project draft at the time .
In addition to Dash, Monero (XMR) and Zcash (ZEC) were added in 2014 and 2016, two more “anonymity cryptos”
As can be seen from Gutierrez’s words, Dash apparently no longer wants to specialize in data protection. Nevertheless, the PrivateSend function is still available to users of the cryptocurrency, which ensures increased data protection. “The technology Dash uses for the PrivateSend function is CoinJoin. This is a method of obfuscating transactions until they become so complex that they can hardly be analyzed ”, as the CMO explains in this context.
CoinJoin established itself in the industry in 2013. With this process, Bitcoin users can summarize and mix their transactions so that they are much more difficult to understand. Dash has more or less adopted this approach, with a built-in feature making the process much easier to use.
In the past few days, data protection cryptocurrencies have been increasingly targeted by government agencies, as can be seen, for example, in the recent contract award by the American tax office, which offered a reward for cracking Monero. “The Dash Core Group does not take a position on the award of contracts by the US tax office,” said Gutierrez when asked about this message. To this end, he adds:
“This does not affect or threaten Dash in any way, because Dash is a public blockchain. Dash doesn’t need to be cracked, because Dash creates privacy through probabilities, not encryption. This is actually no different from the Bitcoin blockchain. ”
The crypto analysis firms Chainalysis and Integra FEC recently received the bid for the US tax authorities’ tender for 625,000 US dollars .