CRYPTO ACADEMY WEEK 16 HOMEWORK POST FOR LEVY CORE BY AMMYY

Hello everyone
@levycore lecture on privacy coins I learnt alot about privacy coins, history about it and what differentiate it from other coins.

ASSIGNMENT 1
Choose a privacy coin and perform a fundamental analysis of the coin In details

SOURCE

Today I will be working on dash coin
Dash is a cryptocurrency and also one of the most popular cryptocurrency in the block chain,it is also an open-source block chain.

Dash permit it's user to receive,send or transfer money through the internet in a Decentralized form.

Dash was found by EVAN DUFFIELD,it was realised on the 18TH OF JANUARY 2014 then it was known as X COIN,in February 2014 it was renamed as the DARK COIN and in March 2015,it went through another rebranding phase that was when the name DASH was given to it .
Dash was created in the United States.
Dash is a fork of litecoin(LTC),while LTC is a fork of Bitcoin (BTC).

Dash comprises of two - tier network which are:
1.DECENTRALIZED PROJECT GOVERNANCE
2.INCENTRALIZED NODES

DECENTRALIZED PROJECT GOVERNANCE:It have three functions which are:
1.Chainlocks:This function secure the block chain in a way it cannot be modified

2.Instant send:This allows payment to be settled instantly

3.private send:this function provides an option of privacy for transactions based on users choice

INCENTIVIZED NODES:This section include masternodes(A subset of the users of dash who validate and verify transaction),to become part of the masternodes group,there is a prerequisite of holding 1000 dash which is equal to $228,000 in fiat currency.

Evan duffield idea was to create a currency which was private to BTC after Bitcoin gained acceptance as a transaction currency in 2012 and litecoin as a fork of the parent crypto.
Kyle Hagan was a great supporting hand in dash but left the project in 2014.

Dash started trading at a price of $0.03 as at 3rd febuary 2014. There are also 10,031,849 dash in circulation on a maximum supply of 18,900,000 Dash.*

Dash started trading at the 1st day of January 2019 with trading price of $79.16 and closed for the year on December 31 with trading price of $41.20, shedding 47.9% of it's opening price for the year.

Dash also started on the 1st day of 2020 with a trading price of $41.19 and closed the year on December 31 with a trading price of $99.61 going 141.83% of it's opening price for the year and crossing losses suffered by investors in 2019.

Dash started again on the 1st day of 2021 with a trading price of $99.60 and is currently trading at $227 in June 2022,in a year time it may amount to 127.63%.
The calculating result states that dash will end the year with a trading price of $360.58.

Dash was also design to provide privacy for users and transaction details protection

ASSIGNMENT 2
Describe in steps how to create a wallet for the privacy coin of your choice.

FIRST OF ALL DOWNLOAD THE APP FROM PLAY STORE.

PRESS THE SKIP BUTTON OR SWIPE TO THE END.

CLICK ON CREATE NEW WALLET

INSERT A PIN YOU CAN REMEMBER THIS WILL BE YOUR LOG IN PIN.

FOLLOW THE SECURITY MEASURE INCASE YOU CAN'T REMEMBER YOUR PASSWORD.

CLICK ON SHOW RECOVERY PHASE

SOME SET OF WORDS WILL BE GIVEN TO YOU,I BLOCKED MINE FOR SECURITY REASONS,YOU WILL HAVE TO WRITE IT DOWN

CLICK ON "I WROTE IT DOWN"

REARRANGE IT ACCORDING TO THE WAY IT WAS GIVEN TO YOU

YOU WILL HAVE TO RE-ENTER THE PIN YOU USED BEFORE OR LOG IN WITH YOUR FINGERPRINT.

YOU ARE IN

ASSIGNMENT 3
Explain the disadvantage and advantage of Dash

ADVANTAGES
1.Dash is accessible any where and anytime as far as there is internet connection to Carry on with your trading or transaction.

2.Dash has it's unique feature of scalability.

3.Dash has it's team and community which plays a great role of how far the digital coin has come

4.Dash has a strong resistance against inflation.

DISADVANTAGE
1.Dash faces high competition from other competitors in the block chain

2.Dash has question mark on it's Decentralized status.

3.Dash privacy may have loopholes.

CONCLUSION
Dash is a good coin to invest in because according to the news there is a chance the cryptocurrency will trade at $323.56by the end of June.the bullish will then be maintained and can come out with a trading price of 588.68.

Thank you for going through my assignment.