Crypto Academy ||Season-2||Week-8|| Homework Post for @levycore | Privacy Coin

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Once again I am happy to take part in this homework because every time I get to learn something new. In this lecture the professor talks about Privacy Coin. At the end of this lecture there are some questions that are good. I hope this post will help you understand Coin Privacy better.

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What is the "Coin Privacy"?

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Those who are involved in the crypto market know that there is still a first cryptocurrency that is made on the blockchain network. All kinds of transactions are executed on the same blockchain. All transaction information such as seller's address, receive The address of the doer, the time of the transaction and the amount transferred are all transparent. Anyone can get information about it.
The emergence of the Bitcoin paved the way for the emergence of other cryptocurrencies, many of which were introduced into the crypto market, but almost all of these cryptocurrencies have transparent transactions.
Privacy coin is coin in which transactions are executed anonymously, which means that no one can get information about these transactions. Its blockchain gives its users the option to hide the details of their transactions. No one can access information about it. All kinds of information in the privacy Coin, such as the amount of transactions, Information about sender and receiver addresses and all such information are kept confidential.

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Choose Privacy Coin and Perform Fundamental Analysis of a Coin in detail?

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According to the requirements of this homework, I have selected DASH Privacy for them. Now we know what it is and how it works and what is its market value.

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What is DASH privacy Coin?

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As we all know, Alt was created as a setback for Bitcoin. Coin DASH was created by Evan Duffield in 2014, keeping in mind some other weaknesses of Bitcoin. Its main purpose is to speed up transactions and maintain confidentiality.
As we all know that lite coins suffer with the help of Bitcoin just like DASH someone made them with the help of lite coin it is used as an alternative to Bitcoin. There are more benefits than that because it allows us to execute transactions faster. In it we can keep all our transaction information complex. Transaction information is our private information. No one can know about it.

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How DASH Coin is Different from Other Coins?

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The DASH Coin is considered different from almost all other queens. Below are some of the things that make it stand out from other queens.
In other Coins like Bitcoin all transactions are publicly executed while in DASH all diseases are private. No one can get information about any particular transaction because this information is hidden.
Bitcoin blockchain has very low transaction execution speeds, while DASH Blockchain transaction execution speeds are very high.
The Bitcoin network has the speed to block, while the DASH network has the speed to block. The speed of a DASH block is four times faster than a Bitcoin.

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Market Analysis

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The current price of the DASH where I'm doing this homework is $186.25. And at the moment its Rank in the market is 53.

Its market cap is $1893668427. The volume of DASH Coin is $564090650. Its circulating supply is $10166045.68. All this information is taken from the Coinmarketcap website as you can see in the screenshot.

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Liquidity of DASH

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Liquidity in a crypto market is very important. If we want to invest in a particular asset, we must first know the liquidity of that asset. Liquidity refers to the listing of an asset on as many exchanges as possible. This means that we can convert it into other assets by going to as many exchanges as possible. If we talk about DASH, its liquidity is very high because it is listed on some of the most popular exchanges in the world, such as Binance, Coinbase, Bittrex and Poloniex.

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Concensus Algorithm of DASH

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All Coins in blockchain technology use the Concensus Algorithm. To create a new block in the blockchain, a network of specific asset solves various mathematical problems using different Concensus algorithms. It uses proof of work if we talk about them, but it also uses proof and work algorithms like Bitcoin. If we talk about DASH privacy coin, these algorithms maintain network security. If a transaction is being executed incorrectly, they detect it and degrade it.
But as we read earlier, transactions in DASH Coin are executed faster, so let's find out why. This is because DASH Coin uses the Hashing Algorithm X11 in addition to proof of work. This algorithm not only speeds up its speed but also increases its ability to execute more transactions at a time and also increases its efficiency.

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Reason Why I Chose DASH Coin?

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I have chosen them because they have so many features. In this Coin, transactions are executed very quickly. The scalability of this network is very high. It executes a large number of transactions at the same time. This is because it uses two types of algorithms. The use of the hashing algorithm makes it different from other queens. All transactions in it are privately executed. All the information about fasting prayers is kept high. No servant can get information about any transactions. For all these reasons, I have selected this Coin.

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Advantages and disadvantages of DASH Coin

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Advantages

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• Its transaction fee is very low
• Transactions are very fast executable
• The security of this token is very high.
• It has all the information of translation hidden in the constitution. No one can get information about your transaction.
• If you want to change something in this network, you can do so through voting power.

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Disadvantages

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• It can also be misused because transactions are privately executed.
• Its system is centralized, not decentralized.
• It is not in great demand so many users cannot utilize it.
• In this network there is the concept of rich being rich and richer and poor being poorer.

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Procedure of Creating the DASH Wallet

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• First we open the google playstore on mobile and type DASH wallet the search it.
• After searching the result shown on screen then click on the first application.
• As you see the application is fully appeared. We need to install this application for the purpose of creating DASH wallet. Then Click in Install Button.

• Open the application after installation.
• Click on "Get Started" Button.
• Next screen appears. Then Click on "Create New Wallet".

• Next enter the 4 digit password in Textbox for verification.

• Next click the "Secure now" Button. * It brings you to recovery phase.
  Then Click on "Show recovery phase" button.

• As we can see in screenshot the keys are listed at the top screenshot. I hide them for privacy purpose.
• Then click on "I wrote it"check box.

• Then click on "Continue". Then verify keys by tapping the world in correct order.

After clicking the keys in right order, our DASH wallet is created Successfuly.

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Conclusion

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In this lecture we learned about DASH Privacy coin. We understand that how it is different from other crypto coin. And what are the things that made DASH more unique than other crypto coins. We learn about that if we want to make investment in particular asset that we need to know about liquidity, market rank, circulating supply and Volume as well. DASH is good coin because it faster than other and it keep your information secure regarding transactions.

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Written By:

@azamrai

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Thanks to Professor:
@levycore