Review on DAPS Coin by Danh Huỳnh Ngọc Công
The new player in privacy playground
DAPS token targets a good sector of cryptocurrency and this is very good. There are only a few privacy coins existing on the market right now so the competitions are with only the most popular ones with known advantages and disadvantages. DAPS team should develop their project based on these information. Until now, the investment on its may be risky and investors should be very careful
Pros
- - DAPS token has a special consensus algorithm. It is the combination of different block types: Proof-of-Work, Proof-of-Stake, and Proof-of-Audit. The initial blocks are mined and the next blocks are minted through the known Masternodes staking. This is said to be ecofriendly, cheap, fast but still decentralized to secure the network
- - See-Saw Balance Reward System is a system that helps DAPS control the emission rate in a way that the masternodes cannot maliciously take advantage of the network and keeps the deflationary manner of DAPS blockchain
- - The technologies behind DAPS token are RingCT, Bulletproofs, Stealth Addresses and Stealth Transactions. This helps to hide every information of the transactions from the public and only the senders and the receivers in those transactions can see its information. Also the origin of the coins will remain hidden
- - It is very active on social media networks. It's a sign of good marketing for a greater community
- - Blocktime and transaction fees are very low so DAPS is suitable for daily-life transaction
- - It is listed on a number of exchanges, including Bibox echange, which is very famous among cryptocurrency community
- - The project is open-sourced to help the community suggest possible improvements for the sustainable development of DAPS
Cons
- - At the time of writing, the token is new and there is not much information about it. It is very hard to analyze all the data it gives
- - There are a lot of competitors in the market. Some of them are very huge and has a very strong network and extraordinary concepts for privacy protection. These big names are Dash, Monero, Zcash and Pivx
- - PoS and PoA have never been a good solution for the decentralization issue. There are still some chances that the masternodes will be come greedy and take over the network
- - The supply is quite huge and it is hard for the token to reach very high price
