Originally, Dash had advertised with a focus on data protection.
Dash (DASH) has long been perceived as one of the best anonymity crypto-currencies in the industry, but this reading now seems to be history, as the Dash Core Group, the operator and developer behind the project, no longer wants to be classified as a „privacy asset“ or privacy crypto-currency.
This is what Dash Core Group CMO Fernando Gutierrez said in an interview with Cointelegraph when asked if Dash is a privacy crypto currency:
„No, Dash is a payment crypto currency that focuses Crypto Bull on practical usability, i.e. criteria such as speed, cost-efficiency, ease of use and user security through optional privacy protection.
Dash was originally founded in 2014 as a fork of Bitcoin, initially known as XCoin, before the name was changed to Darkcoin and finally Dash. The crypto currency advertised with a special focus on privacy. „Dash is a data protection-oriented crypto currency based on the work of Bitcoin founder Satoshi Nakamoto“, as it was called in the project design at the time.
In addition to Dash, two more „anonymity cryptos“ were added in 2014 and 2016, namely Monero (XMR) and Zcash (ZEC).
As can be seen from Gutierrez‘ words, Dash apparently no longer wants to specialise in data protection. Nevertheless, users of the crypto currency will still have the PrivateSend feature available to them, which provides increased privacy. „The technology that Dash uses for the PrivateSend feature is CoinJoin. This is a method for concealing transactions until they become so complex that they can hardly be analysed“, as the CMO explains in this context.
CoinJoin has established itself in the industry in 2013. It allows Bitcoin users to merge and mix their transactions, making them much more difficult to track. Dash has more or less adopted this approach, although the procedure is much easier to use due to a built-in feature.
In recent days, data protection crypto-currencies have increasingly come under the scrutiny of government agencies, as evidenced, for example, by the recent award of a contract by the US Internal Revenue Service, which offered a reward for cracking Monero. „The Dash Core Group does not take a position on the U.S. Treasury Department’s contract award,“ Gutierrez said in response to this news. In this regard, he added:
„This in no way affects or threatens Dash, because Dash is a public block chain. There is no need to crack Dash, because Dash creates privacy by probabilities, not encryption. This is actually no different from the Bitcoin block chain.“
The crypto analysis companies Chainalysis and Integra FEC were recently awarded the contract for the US Treasury Department’s $625,000 tender.