DAPS coin $Daps

DAPS (Decentralized Anonymous Payment System) is a revolutionary cryptocurrency blockchain-based project, focused on security, scalability and true anonymity. DAPS aims to become the new standard of privacy in altcoins. To enact this vision, the specs of DAPS were carefully crafted to create a unique coin protocol for the crypto world, with the ultimate goal of mass adoption.

 

  • Concept Assessment

    Bitcoin and a majority of other cryptocurrencies are not anonymous and have their own limitations concerning privacy features, which has led to a focus on privacy and anonymity oriented coins in the industry. Today, we can find hundreds of privacy coins that focus on secure and anonymous transactions, but a coin advertising itself as private does not necessarily mean that it actually is. While the best privacy coins rely on real innovations in cryptography, the worst ones just claim to be private but are functionally vaporware. When it comes to private cryptocurrencies, none of them is fully private either, as in theory, in a completely anonymous chain, no matter the protocol, node owners can collude off-chain to run their nodes maliciously and create and spend infinite tokens without the knowledge of the majority, as the transactions and balances are hidden from public view. This "Trust problem" has already been witnessed in constant exploitation of 'Zerocoin minting' and Cryptonote networks. This is where DAPS comes into the spotlight with its unique technology and privacy features. They are the first project to incorporate RingCT, Ring Signatures, Stealth Addresses and Bulletproofs on a hybrid staking chain. DAPS is fully private, has no known exploits or well-poisoning and their Proof of Audit (PoA) protocol is a first of its kind technology, which is solving the "Trust Problem" faced by other privacy coins.

  • Financial Competency

    DAPS Coin is governed by the "Harpocrates Protocol", setting itself apart from established projects with which it shares the market. The DAPS coin operates on a novel blockchain design which incorporates three main types of blocks: Proof of Work (PoW), Proof of Stake (PoS), and Proof of Audit (PoA). Prior to any PoS or PoA blocks and to create an initial supply of 60 billion DAPS for the airdrop, the DAPS team mined 500 PoW blocks privately without receiving any rewards. After block #500, the PoS/PoA blocks were submitted from users and accepted on the chain. The reward per block is 1050 DAPS of which 50 DAPS would be sent to the DAPS Development fund. The fee structure is as follows: -1050 emissions per PoS block -50 DAPS to the development fund -900 to be split between the staking node that minted the block and a Masternode -60/40 See-Saw system means 540/360 split as above -100 reserved for the PoA miner that audits the block The “See-Saw Balance Reward System” is a method by which the network is balanced and the reward system is fairly distributed between Masternodes and staking nodes. The collateral required for a Masternode is 1,000,000 DAPS coin and the minimum amount to start staking is 400,000 DAPS coin. DAPS coin started as an ERC20 token airdrop for PCN coin holders. 60 Billion tokens were airdropped with 10 Billion coins scheduled as rewards for POS, MN, and POA, ceiling the maximum supply at 70 Billion coins. The current Marketcap is $3.4 million USD with circulating supply at 60 billion coins. DAPS is currently traded at Stex, Bitmart, Txbit, SWFT blockchain and Stakecube exchanges with a daily trading volume of $76.3k USD. There are further plans to list on top exchanges with the Hotbit and DigiFinex listings soon. The most accurate DAPS trading data is on CoinGecko. https://www.coingecko.com/en/coins/daps-coin

  • Business/Marketing Proposition

    Any progress depends on the experience and skills of the founders of the core team. DAPS coin has some of the most experienced and talented individuals in it's core team. Adel De Meyer is the Co-founder and Head of operations, specialized in social media marketing, she is also an experienced speaker, trainer, and advisor. She has been recognized as a top 100 influencer in blockchain in 2018 and among top 100 digital marketers of 2019. Andrew Huntley is the Chief technical officer with 19 years of experience as an IT professional in the IT industry. The Media team and community support and International team work relentlessly and have an active presence in social media as well as providing 24/7 support on different platforms. They have had important partnerships with other organizations, one with SWAPS Network, who collaborated with them for the swapping process of the ERC20 token to mainnet coin. The other partnership is with SWFT Blockchain for their first mobile wallet. They also had a software development partnership with Arcadia group, who have previously worked with other privacy coins such as ZCOIN. The latest partnership announced recently is with SecuX for their first hardware wallet and global PoS integrated system.

  • Execution

    The goal of DAPS was to create a fully anonymous staking coin and payment system with a trustless governance structure, based upon latest technologies derived from Monero and PIVX. The team first forked the PIVX code, but now with further developments and improvements, the code no longer resembles PIVX. For example, they removed the Zercoin and libzero dependencies completely right at the start. They have some remnants of the PIVX code about 20% of the code and the rest 80% is purely DAPS code base. They are the first coin to successfully implement staking and Masternode hybrid (PoW – PoS – PoA) full privacy chain that fully incorporates RingCT and Bulletproofs. The block verification is done by MN/PoSv3/PoA. This creates a diverse reward system besides the high resistance against some well-known attacks like 51% and DDOS ones. A unique and important feature that solves the "Trust problem" is the Proof-of-Audit (PoA) consensus model (also known as Harpocrates), that maintains the validity of the network by checking the maximum supply of the chain, so that it is not altered by any means. The important features and properties of DAPS coin are: 1)Proof-of-Audit (a unique on-chain solution for Trust Problem in completely anonymous blockchains; block-injection resistance) 2)Proof-of-Stake V3 (minimum staking amount is 400k DAPS) 3)(Multi-) Masternodes 4)Bulletproofs 5)RingCT 6)Stealth transactions 7)Stealth addresses 8)No messaging (well-poisoning resistance) 9)Multisig wallets (Desktop, Mobile) 10) Dual-key system

Ajoobz Evaluation

Concept
13/15
Whitepaper
Competitiveness
Scalability
Roadmap
Core Team
11/15
Identification
Business Team
Marketing Team
Development Team
Consultant/Advisors
Partnerships
PR
Media
8/08
Website
Twitter
Telegram
Discord
Reddit
Instagram
Facebook
YouTube
Marketing Capabilities
15/22
Marketing Strategy
Media Connection
Financial Capabilities

15 /40
Private Placement
ICO/IEO
Existing Project

Conclusion

The DAPS team has maintained steady progress in development since its inception. Their testnets were audited by Red4Sec, a top cybersecurity company, and deemed successful with suggestions for minor improvements. Their work on solving “Trust issues” along with providing full anonymity is highly commendable. The way they regrouped after the PCN fiasco in 2018 and handled everything smoothly and progressed further is also noteworthy. With the level of development, they have made, DAPS has already surpassed other privacy coins through its unique technology and features. DAPS, from the word go, is a fully private and trustless blockchain with privacy on default.

Privacy and anonymity are not the final products of DAPS, as there are plans for future developments such as smart contracts, integration with payment processors and other real world use cases.