Dash Privacy Coin Can’t Get Away From Its Darkcoin Past

Dash Privacy coin has started a circulating primer in a bid to alleviate the regulatory fears by explaining its privacy features but somehow the ghosts of its past regarding the Darkcoin history cannot go away. Let’s find out more in the latest cryptocurrency news today.

Dash was created first by Evan Duffield in the form of ‘’DarkCoin.’’ The idea behind the name was not that Dash could be used in illegal activities but rather that it could ‘’go dark’’ or not be fully transparent. This means that a piece of numbers and letters could not be personally identifiable in a sent information. Dash Core is the organization that is funded from the Dash Network in order to ensure that that the project has a viable future:

 “Since Dash is commonly labeled as “privacy centric” in the media, it is sometimes included in proposed “ban lists”. This is an incorrect treatment of Dash from both regulatory and legal stances.”

Some countries around the world have discussed the idea of banning privacy coins overall. For example in India, a group of bankers decided that the best approach is to blacklist cryptocurrencies altogether so the fears that Dash has are not unfounded. When a reporter spoke to the Dash CEO Ryan Taylor, he clarified that Dash is not a privacy coin but merely a ‘’user experience.’’ The privacy model is different from the one Zcash and Monero have. Monero’s transactions are obfuscated and Zcash offers both transparent and ‘’z’’ addresses which are shielded:

 “Privacy and anonymity features are not binary, but rather a spectrum. This spectrum includes complete shielding of transactions (in which addresses and amounts are completely obscured from third-party observers), optional shielding of transactions, and completely transparent transactions. For example, with ZCash, shielded addresses are not visible and transactions between shielded addresses do not reveal either address, the transaction amount or the contents of an encrypted memo field. In contrast, Dash transactions are all completely transparent and auditable, identical to Bitcoin (upon which Dash is based), including the amounts and addresses party to each transaction.”

Dash primarily argues that it is not as different from Bitcoin in order to be treated differently. The company announced the new information packed in a blog post as we read in the altcoin news today saying:

 “We are making this information available on our website in an effort to educate regulators, exchanges, money service providers, and lawmakers to make sure service providers can continue servicing our users.”