Hello everybody, Here is my re-post of the homework for dear professor @levycore. Hopefully, he will surely visit my post, and looking forward to his warm reviews.

Post

Hello, the Steemit family. Hopefully, all of you will be good and enjoying your health with the grace of Almighty Allah. After 15 successful weeks of Crypt Academy, this is the start of week number 16. This post is actually my homework post for dear professor @levycore. I have read the professor's post and I have understood all the points of the lecture very well. Today our topic of discussion is the Privacy Coin.

There are some questions that are asked by the professor as the assignment for this week and I will discuss them one by one in the following segments.

Introduction

Whenever we hear the word Privacy, the first and the most repeating thing in our minds is the word security or something which is done secretly without the involvement of the nearby people. Privacy means to do something under the sole control of the worker and the public around this worker is not awarded about the accomplishment of the work. The same is the case in the world of cryptocurrencies. There are such coins developed in the crypto world that are known and often called the Privacy Coins. As we all know that the first cryptocurrency was Bitcoin which was developed in the year 2009. The system of Bitcoin is decentralized means that the users that are working in this system have their own hold on the funds and the transactions made by their assets. All the transactions made on the decentralized system are transparent and are seen to everyone using the respective decentralized system. There is a great problem with privacy in this case. To overcome this problem the privacy coins are developed later on that proved to be very useful in all the aspects of the cryptos.

Source

Privacy Coins are digital assets that more secure and private than other cryptocurrencies. The security system of the Privacy Coins is very complex and the transaction that is made in the Privacy Coins are not transparent are not visible to all the users of the system. Only the sender and the receiver of the coins are awarded for the transfer of the coins and no third person is involved in this system. Some of the most common examples of the Privacy Coins are as follow;

• ZCash
• Dash
• Monero (XMR)
• Grin
• Verge
• Beam

(01)

Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

As the brief introduction of the Privacy Coins is explained in the above segment. Now, I am going to discuss an example of the Privacy Coin. The coin which I am going to discuss in this post is the DASH coin which is actually a privacy coin.

Origin

What is Dash?

Dash is such an open-source platform which is Altcoin in nature. This Altcoin was forked by the Bitcoin protocol means that it is a part of Bitcoin but it is not actually Bitcoin. DASH coin can be used in the payment and as it is a privacy coin so it can be transacted at any time in any place.

Background and Origin:

The DASH coin is a privacy coin. It was founded and developed in 2014. This coin was named three times after its development. Firstly it was named the Xcoin in the year in which it was founded and developed. After a short span of time, this name was changed and the new name which was set for this coin was the Dark Coin in the same year and actually in the same month just after a few days of its creation. Dash Coin is known as the name DASH in the crypto world and it is a privacy coin that is ranked above in the Privacy Coin menu of the Coinmarketcap. DASH coin can be mined by using different miners. It uses the Proof of Work as the consensus algorithm for its proper working.

Market Analysis and Trends:

If we look at the market rank of the DASH coin we will see that it holds 30th position out of 100 which is really a good position for the Altcoins. The market of the DASH coin improved positively in recent days and new features improved its position in the market. This coin allows us to make such transaction that is untraceable like all the privacy coins but its complete payment method is a little different from other privacy coins.

Coinmarketcap's Overview:

Above is the screenshot obtained from https://coinmarketcap.com. The data obtained from this screenshot is as follows in the form of a table.

Name of Coin/Asset	DASH coin
Market Capitalization	$1,897,053,885
Fully Diluted Market Capitalization	$3,528,618,865
Current Volume(24hours)	$484,180,869
Circulating Supply	10,167,650.21
Maximum Supply	18,900,000
Total Supply	10,167,650
Current Market Rank	53
Current Price	187.44$
All-Time High	1642.22$
All-Time Low	0.21$

So, this is some basic information about the Dash coin according to the overview of its market on the coinmarketcap.

Exchanges that allow Dash coin exchange:

According to the official website of DASH, there are more than 265 exchanges and brokers that allow the exchange of this coin. The transaction time of the Dash platform is about 1 second(as per information provided at https://www.dash.org/. Some of the most common exchanges ara as follow:

• Binance
• Huobi Global
• Poloniex
• Stex
• Bitbay
• Bittrex

So, this are some fundamental information about the DASH coin.

(02)

Describe the steps in creating a wallet for the Privacy Coin of your choice.

Now, we will discuss the method to create a DASH wallet. One can easily create it by following these simple steps:

• First of all, open the browser which you used and search the Dash Coin in the Search Bar of the browser like Google Chrome.

• Now click on this address to visit the official website of the Dash platform:https://www.dash.org/.

• The homepage of the Dash official website opens and you have to go a little below. You will see a Download. Here we have to select the application according to our device like Windows, iOS, Andriod, etc. Here, I have selected the Desktop for Windows option being a Windows user.

• Now, click the Download for Windows option.

• Now select the download option according to your system operator. I have selected the Windows (64-bit). Next click on the Download Installer option.

• The Installer of the dash core started downloading as shown in the above screenshot.

• Now, open your computer and open the application installer.

• Now, click on the Next button to start the installing of the application.

• Now, click on the Next option which is appeared in the appeared.

• Now, click on the Install option.

• The installation of the application starts automatically as mentioned in the above screenshot.

• After some time, the installation of the application will complete, and now click on the Next option in the appeared menu bar.

• After that, click on the Finish option as mentioned in the screenshot above.

• After the installation of the application. Now, the place for the saving of files is asked and we have to select the desired location in our computer. Now, click on the OK option located at the bottom of the menu as mentioned in the above screenshot.

• After some loading... the Dash wallet will appear in the above menu and click on the Hide option to access your Dash wallet.

• The Dash coin wallet has been created and you can see the overview of your wallet on the front page. As I have no Dash coins so total coins are 0 Dash.

• Now, after syncing up your wallet will work properly and you have to back up your wallet in some safe place on your computer. For this purpose, click on the File option in the top menu and then select the Back up wallet option from this menu. As shown in the screenshot below.

• Here, click on the Wallet Backup option.

Now, choose the location of your own choice and click the Save option that appeared at the bottom of the menu. Your wallet will be back up in the location of your choice.

So, these are steps to create the Dash Coin wallet and to back up the wallet on your computer.

(03)

Explain the reason you chose the Privacy Coin.

As we have discussed the basic information, history, market trends, wallet, and the method of creating the wallet of the Dash coin in the above sections. Now, I am going to discuss the reasons for the selection of this privacy coin. As there are a number of other privacy coins in the crypto market but I have chosen the Dash coin due to some reasons. One of the most important and the main reasons for selecting this privacy coin is that the Dash is a well-developing and well-managed network in the cryptocurrency world.

Another reason for the selection of this coin is that the Dash coin is not limited to only the high authorities. It is also available for the lower and the normal person and to the public. Dash is the recently added cryptocurrency in the market of cryptocurrency and developing well in recent times. It falls somewhere between 20-100 in the rank of the crypto assets on the basis of the market capitalization and this thing is really great achievement for the Dash network.

These are some reasons that impressed me and due to these features, I selected this coin among the other privacy coins in the crypto market.

Advantages of DASH

• DASH is a privacy coin and like the other privacy coins, it is also untraceable and secure.
• The transactions that are made on the DASH coin are faster than the other cryptocurrencies like Bitcoin, Ethereum, etc.
  -In the dash coins, the transactions made are visible to all but their complete information is not visible to the third parties.
• DASH being a cryptocurrency can be sent anywhere in the world at any time.
• DASH is a trusted and self-sustainable platform.

Disadvantages of DASH

• The transactions made on the Dash coin are actually mixed up with each other by using the master nodes and the rearrangement of these mixed transactions has also been developed which is really a bad thing related to security.
• The Dash coin developers are utilizing their budget for the improvement of their market ranks and this thing is not the actual success.
• Some people are using this privacy for their illegal and black transfers of money. This thing must be discouraged.

So, these are some advantages and disadvantages of the DASH privacy coin.

Conclusions

Privacy is the basic need of developing and growing ideas. Privacy coins are digital assets that are more secure and reliable than other cryptocurrencies. The transactions made on the privacy coins are not visible for everyone and are secure. DASH is a well-grooming privacy coin of the DASH platform and it is counted in the top privacy coins of the cryptocurrency world. The future of the DASH coin is seemed to be very great and bright.

So, that's all about this week's homework post. Hopefully, all of you will like this post.

Special mention and thanks to dear professor @levycore for such an amazing lecture and looking forward to his reviews on this post.

Thanks to all of you.

Credits: @steemlover63