What You Need to Know About the DAPS Project – The Capital

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Total Drivers Total Drivers 3 years ago in Crypto 0

Privacy Is a Right Not a Privilege

Launched on September 30th, 2019, DAPS is a completely new system of turn-key, trustless, private digital assets and ecosystems. Designed for anyone who really takes their privacy seriously, this system is fully private and makes sure that users are completely in control and anonymous from the moment they start using the blockchain. This can make users feel more comfortable utilizing a blockchain system. After all, DAPS philosophy is that privacy is a right and not a privilege.

DAPS, or Decentralized Anonymous Payment System, is a method of ensuring privacy, anonymity and autonomy to a higher level than is currently available with systems in the market. This platform has been developed and established to provide users with the platform they would expect when it comes to performing any type of transaction online. Whether conducting transactions for cryptocurrency or anything else, people want a system that will protect their identity and make sure that they feel comfortable with the transaction and the way that it is processed.

Currently, Bitcoin and other cryptocurrency transactions do not provide for this type of security, except through DAPS. With traditional blockchain systems it is possible to get security and some protection, however, the level of security and protection that is offered is not what the general user of these services would prefer. That is where DAPS comes in and it is why this service is one that is already starting to improve throughout the market. Because users get the level of security that they would expect in order to carry out a transaction there are more people who are willing and interested in performing these types of transactions.

To DAPS, the current system of blockchain is forcing users to become more exposed to attack vectors. And those vectors are being used to exploit these individuals who are attempting to enter into the cryptocurrency realm. But that definitely shouldn’t be a trade-off that users have to make. Instead, DAPS believes that users should be able to enter into the cryptocurrency market without sacrificing their own security and privacy at the same time. But how do they make sure that those users are getting the level of security that they actually want? That’s what this platform is all about.

In order to provide the level of protection and security that users are looking for, DAPS utilizes several new technologies. These allow the system to provide exactly what users are looking for in the way of blockchain as well as personal protection. In general, their proof-of-audit or ‘Harpocrates Protocol’ include ring CT, bulletproofs, stealth addresses, stealth transactions and more. The result is a trustless, anonymous blockchain network. This means that users are granted the privacy that they need in order to feel more secure and maintain hidden transaction amounts and more.

For DAPS and for the users this can present its own array of problems because it makes collateralizing more complex. Determining whether or not the collateralized Masternode is correct and is safely stored requires additional content and research for the system. Masternodes, therefore, require a visible amount that does not fall within the Ring signature or the Bulletproof sectors. Due to Masternodes being fully trusted nodes on the network and responsible for transaction verification, in order to ensure that the masternode has indeed been collateralised and with the correct amount, the best way for this to happen is to forego some of the privacy and security in order to ensure that there are no “fake” or under-collateralised Masternodes on the network.

Within the DAPS chain there are a number of different services and features that are provided to ensure a wholly anonymous system and service. These include:

– RingCT

– Bulletproofs

– Stealth Addresses

– Dual-Key System

– Stealth Transactions

– And more

When we delve further into each of these categories we can see why they are each so strong within the system and why they are essential aspects. Each one provides users with even more protection and ensures the blockchain is able to function properly even with the increased level of anonymity and security being offered.

RingCT — This system, also known as Ring Confidential Transaction, means that real transactions are made within a set number of fake transactions. Based on the specific size of the Ring, there are specific numbers of fake transactions added in, which helps to hide the real transactions that are taking place. With the current systems available there are 11 in the Ring size, but DAPS is looking at ways to create an entirely new method, with a range that will provide between 12 and 15 different transactions to help cover the actual transactions more thoroughly.

Bulletproofs — This system is designed to provide confidential transactions that are done without the need for similar functioning that is done in standard transactions. In a standard transaction information is not fully encrypted, however Bulletproofs allow numbers to be confirmed within a set range, for example, without actually having to worry about verifying any additional data. For this reason, these are non-interactive, zero-knowledge proofs. They also do not require a trusted set-up. All of this makes them more efficient for a system that is geared toward privacy and secrecy as the two main components. This can be done through a variety of cryptocurrencies, not just through Bitcoin.

Stealth Addresses — With this process in the DAPS chain a public address would be required to send something to a specific individual. But, public addresses create a flaw in the system if secrecy is, in fact, the goal. This is why it’s crucial for the DAPS system to create stealth addresses. This means that a public address will instead be generated with / using a one-time public key. This public key will be held by the owner of the public address and there is no way for someone else to get the information without both of the keys. This comprises the dual-key system.

Dual-Key System — With the dual-key system stealth addresses can be created. These stealth addresses are required in order to protect the public address of the individual using the system. But a private view-spend key pair is the only thing that can determine the actual public address. Through this process the individual can still pay for services and achieve all of the different characteristics and functions that they would need through this blockchain system. This will allow the individual to create the level of investment that they want without likewise having to reveal their identity and personal information as with other blockchain systems.

Stealth Transactions — In executing stealth transactions public addresses are sent to the sender, but in a specific manner to ensure privacy for everyone involved. The public address is parsed to ensure that a public view key and public spend key are received. Then a check is run to ensure there is enough money in the wallet for the transaction. A one-time public key is generated for the individual receiving the transaction and the transaction output is ensured based on the one-time public key. Spendable UTXO is used as the transaction input and a Ring signature is generated to complete the process.

The hybrid blockchain system that is utilized with DAPS involves blocks that are created in different ways. The first 500 blocks are considered PoW blocks and are mined directly by DAPS. This ensures that there is an initial supply available to those who are utilizing the system. From there, the remainder of the blocks are a mix of PoS and PoA blocks. PoS blocks become minted based on staking nodes and are verified through the blockchain. PoS blocks are created each minute and are therefore more available and usable within the system.

PoA blocks are mined by those on the outside, which ensures that the audit system is working in the way that it is supposed to and the way that users need. These blocks are created each hour and each one must be able to re-audit 59 PoS blocks or more in order to ensure they are working properly. These miners are rewarded for their process and for the auditing that they are completing in creating the PoA blocks. The system then continues and ensures that everyone is following the rules outlined within the blockchain to ensure safety, security and privacy for those that are working within the system in any capacity.

The current methods of privacy are not actually as private as one might think. The reason behind this is that Bitcoin is not anonymous. The idea is to create a fully public and visible blockchain that keeps double-spends from occurring. However, this creates a trustless system that is far more public than what the general user of the system would prefer. It creates a public ledger that allows anyone to track the information that is happening. As a result, those who wish to do harm or to take advantage of this information are easily able to do so and the user is the one who suffers from it.

The theory holds that a completely anonymous chain will offer node owners the ability to run nodes maliciously. This is yet another problematic aspect, which is why a fully anonymous chain has not yet been established. Instead, a level of balance is required to ensure that all users are fully protected but still private in their transactions. There would be a security risk that allows for collusion and this would allow others to generate infinite numbers of coins completely in secret. Because the information would all be private this process would be private and there would be no way to catch the perpetrators.

Because this is not possible, there has to be a different method in place to allow users to feel comfortable and to make sure that there is detection available for attacks and off-chain collusion. Because of the exploitation methods available, it is generally discouraged to utilize any method of private blockchain. This has been epitomized in the Zerocoin minting and CryptoNote networks which have seen a dramatic number of weaknesses and exploitations to the problems with private blockchains.

The alternative is to create a trustless system where a third party is able to conduct routine overviews of the coin supply as well as monitoring nodes and emissions to ensure everything is carried out properly and there is no malicious activity. Masternode-based blockchains mean that there is privacy in general, however, those Masternodes are also given a level of power and must be provided a specified level of trust in order to maintain all of the different information and to monitor the service in the way that it is being performed. There must be a level of trust within this centralized system.

Because there is no definitive way to be entirely trustless without the node, the Masternode feature is the only way to truly ensure that there is a private blockchain that is protected but not 100% up to the honor system. Users must trust the Masternode to monitor and must be willing to allow this system to evaluate the system and the way that it works. These types of governance structures can be difficult for many and can create a system that is still open to some level of corruption, however that level is sufficiently mitigated related to other systems.

Through the use of DAPS it is possible for users of the blockchain system who are looking to engage in transactions related to cryptocurrency to retain their own privacy and security in the process. These individuals are then more likely to engage in cryptocurrency transactions because they know that their personal information is kept secure and that they do not need to worry about others getting a hold of their private information, which can be used in a variety of additional ways. This helps to create a level of security that is over and above what is available in other formats.

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