Steemit Crypto Academy | Season 2: Privacy Coins | Homework task for @levycore
Hello All Steemians !!!
Today I'm going to make my Steemit Crypto Academy Homework task by professor @levycore that talking about Privacy Coins. Very interesting lessons. Actually I have very little knowledge about this, but I will try to discuss it to improve my writing skills. On this occasion I will try to discuss it following 4 points.
Choose a Privacy Coin and Perform a Fundamental Analysis of the Coin in Detail.
Privacy coin is a crypto coin that has a high level of function in maintaining and managing user privacy systems. This coin is classified as a coin that is liked by many people because of its strong security system. Where in the transaction process that occurs no one knows all the information and data other than the user and the recipient. And also the user's identity can be kept confidential so as to minimize the occurrence of hacks or other abuse.
Dash Coin
Dash Coin is a coin in the crypto market which includes in coin privacy. This is proven because this coin has a very private transaction system and has a high level of wallet security. All information and transaction data are safe and secure from any party other than the user and the recipient. This coin is at a higher level of security than the average privacy coin.
Dash Coin was launched by Evan Duffield. This coin had several times changed its name from Xcoin to Dark Coin and to Dash Coin. This coin uses Proof of Work and Masternode (PoSE) consensus and X11 Hashing Algorithm. Of course, with all the functions, features, characteristics, advantages, and powerful systems that this coin runs, it can make many investors and traders not afraid and confident to invest and trade.
Dash Coin Features
- PrivateSend
This feature helps users in closing and eliminating transaction information and data such as addresses, names, and amounts on public blockchains. Everything related to users and recipients will be anonymous and confidential. - InstantSend
This feature helps users in making fast and instant transactions. There are times when the user is in a critical situation so it can be assisted and facilitated with this because the transaction process will be executed in just a matter of seconds. - ChainLock
This feature helps users in dealing with hacks or abuse that may occur. This will withstand and eliminate attacks so the transaction process can run smoothly and chain additions can continue.
DASH Coin Analysis
Price
The current price of Dash Coin is $192.92. This is a very affordable price for investors and traders. All-Time high is $1,493.59. This is the highest level ever reached 3 years ago in 2017. This price is very far above compared to the current price so the possibility that the price of this coin will rise again is very large. And All-Time Low is $0.213899.Market Cap
Market Cap of Dash Coin currently stands at $1,965,089,656. And percent Market Cap Dominance 0.12%. This shows Dash Coin has a high Market Cap since the coin was launched so it is very suitable as an investment and digital assets.Trading Volume
Trading Volume of Dash Coin currently amounts to $763,422,063. This shows Dash Coin is continuously traded from various exchange platforms in the crypto market. This is a factor that makes the price of this coin go up and down.Rank
Dash Coin is currently ranked 57th on the crypto market list. This shows that Dash Coin is a very good and strong coin privacy. This coin is a potential coin for investors and traders for safe investment.Circulating Supply
Dash Coins that have been circulating in the crypto market and traded by traders amount to 10,163,425 / 18,920,000 of the maximum total coins. This indicates that this coin is owned and used as an asset by more than 50%.Chart
According to the chart, the price of Dash Coin over the past 4 months has gone up and down 3 times. This indicates that the price of this coin is volatile and is affected by other strong coins as well. Chart patterns that show Bullish and Bearish phases can be analyzed and traders can enter the buy and sell list at the right time.Social & Community
Dash Coin also has a popular social & community presence. This is evidenced by 40,996 Reddit subscribers, 394,025 Twitter followers, 4,027 Telegram users. Also, all information and data about Dash Coin can be discussed at discordapp.com, dash.org, and bitcointalk.org.Market
Dash Coin market is vast. Various exchange platforms that have a good reputation and high trust score can be used. Coin trading has been happening continuously on Binance, Huobi Global, Etoro, Bitfinex, HitBTC, etc. This shows good consistency in the crypto market.
Describe the Steps in Creating a Wallet for the Privacy Coin of your Choice
Wallet is one of the important parts that must be prepared by an investor and trader in storing coins as digital assets. On this occasion, I will create a Dash Coin wallet by visiting https://www.dash.org/.
- Click "Downloads" from the various options available.
- Click "Download for Windows" to run the application on pc.
- Choose a wallet from several available options. Here I select "Dash Core" and Download Installer.
- Open the application and click "Next".
- Install Dash Core by click "Install"
- Wait for the installation process to complete.
- Dash Core installation is complete and click "Finish"
- Data storage location is requested. Here I select the default data directory and click "OK"
- Wait for the wallet loading process.
- Setting the appearance of Dash Core. Here I chose a dark theme and a default font. Click "Save".
- A warning appears about no recent transactions because the wallet has not been synced. Click "Hide".
- Wallet is ready to use.
Explain the Reason you Chose the Privacy Coin
Dash Coin is a privacy coin in the cryptocurrency market with a high level of security. Many investors and traders like this coin because it is safe and suitable for digital assets. This is evidenced by the ranking of Dash Coin which is in the top 100 cryptos on the market list. Users of this coins and trading volume is very high more than 50% of the coins circulating from the maximum total of coins. Most importantly Dash Coin is the best coin privacy recommendation so far.
Dash Coin has good functionality and quality so it makes investors and traders comfortable in carrying out every transaction process. All information and data about Dash Coin is very easy to find and access anytime and anywhere. It is public and transparent thus building a high level of trust in this coin. Dash Coin is believed to be growing and able to make this coin continue to be in demand and a long-term investment for investors and traders.
Advantages
- Dash Coin can hide all information and data about transactions so it is very safe and the possibility of hacking is very small.
- Dash Coin can run a very fast transaction process in seconds so it is very helpful and easy for users.
- Dash Coin has high potential and is suitable as a long-term investment asset that can bring profit in the future.
Disadvantages
- Dash Coin allows criminals to perform illicit actions because they are anonymous.
- Dash Coin can be used as a place for fraud and abuse in the financial industry.
- Dash Coin is considered to have a decentralized system that is not good and has doubts.
Conclusion
Dash Coin is a privacy coin in the crypto market. This coin is very good because this coin has a very private transaction system and has a high level of wallet security. This coin uses Proof of Work and Masternode (PoSE) consensus and X11 Hashing Algorithm which makes it very fast and secure. The features of this coin are very useful and help users in carrying out each transaction process. This feature makes this coin has a good quality.
Dash Coin wallet is very easy to find and install. This wallet is very useful in storing koin. The wallet is connected to the exchange platform making the transaction process easier. All information and data about this coin is public so it can be accessed anytime and anywhere. All analysis about Dash Coin states that this coin has high potential in the crypto world and is believed to be suitable as a profitable digital coin investment.
Thank you for reading my blog, hope it will be useful for all of you.
CC :
@levycore
@steemcurator02