TEAMTALKS #3: | The Privacy Coin Prodigy
IN TEAM TALKS I MEET WITH THE TEAMS BEHIND THE PROJECTS — THIS TIME I MET WITH THE TEAM FROM DAPS
INTRODUCTION
Participating:
Captain Daper 9000 — Coordinator for Daps
Flashy Gordy — Journalist
Interview form:
Q&A on Discord
INTERVIEW
Why do we need another privacy coin / Daps?
Other privacy coins are not fully private, due to wanting to avoid becoming a trusted network, like Zcash. Zcash’s Zerocash protocol does not also protect nodes and other aspects covered in other protocols such as Monero’s RingCT.
How private will Daps be?
DAPS plans to protect nodes, transactions, balances, and all metadata. So it will be a fully private coin, while still having a supply check and other explorer features available due to the optional transparent address usage.
What privacy mechanisms are used and why?
DAPS will utilize the RingCT and Zero-Knowledge proof schools to introduce full obfuscation to transactions, balances and all metadata involved. Combined with Tor/OBFS4 these protocols can be used to completely isolate blockchain users from analytics. These protocols can already be used in full privacy blockchains, but these implementations have a trusted setup. DAPS will have a trustless private network.
Why is private the default option on the network?
If privacy is not the default option on original running, then the user is exposed for that original usage. An example of half-implemented stealth repercussions is shown in Verge. Verge, while obscuring nodes, did not make this feature mandatory. Nodes for Verge are still exposed in the same way they were prior to the implementation, due to it not being a mandatory usage. Privacy by choice is not a secure method to ensure privacy for the whole network. How can you hide when half of you is in the light?
Can u elaborate further on the ‘Trust Issue’ solution?
Trust is a distributed networking term, separate from the typical usage of the word “trust” in investment or inheritances. “Trustless” is the concept that you, as an end user of a network, do not need to “trust” any operator of the network to confirm or verify your usage as legitimate or illegitimate. A trusted network has a central authority or authorities which determine the fate of the entire network. An example of a Trusted network in real life is Visa payments. You, as an end user, have no way to verify if your fiat dollars have actually transferred to the person you’ve sent them to outside of the banking or financial institution itself confirming said transaction. How do you check if your fiat is transferred properly on the SWIFT network? What is the equivalent to the block explorer for this system?
On the other hand, Bitcoin is a trustless network. Trustless is the idea that you can utilize this network without having to trust that the central authority or authorities are being honest in their actions. You, as an end user, can personally check to see where your coins are, where they’ve gone, and the user who got them. The block explorer is a public third party system where you can view the network anytime, making it so you do not rely on node operators or any other authority to relay this data to you.
In privacy coins, Trust is hard to maintain while also approaching full obfuscation. How do you verify the supply of a fully private chain? In the case of masternodes, a fully private masternode-enabled chain can be exploited by nodes colluding off-chain to enact changes. In current implementations of zero-knowledge proofs this issue appears as well, as there is no way to ensure node operators and minters are acting in an honest manner. The only way to ensure these fully private networks are not exploited is to introduce a third party check on these network’s supply and other factors. This is where Proof-Of-Audit comes into play. With proof of audit, masternodes and staking securing the DAPS network, it will be resistant to most hacks on private networks and solve the trust issue of full zero-knowledge or RingCT implementation.
It seems like there is no max supply — is this correct, and if yes, why did u choose this?
DAPS has an emissions caps of 10 billion DAPS. The initial DAPS supply will be equal to the Peepcoin supply minus the amount of Peepcoin that have not swapped. If 10 billion Peepcoins swap, the DAPS supply cap will be 20 billion. If 50 billion peepcoins swap, the DAPS supply cap will be 60 billion.
How big is the team?
- what are team plans?
- are u expanding?
Our team has over 100 members as of writing. we are implementing a full NDA process which may lower this size. Our team comes from nearly every area of earth. We are always looking for more contributors or team members! We are currently focusing on the development and support teams, prioritizing swap and zero-knowledge proof experts as well as getting more professional support members to help community members 24/7.
What is the future for Daps?
- near future?
- Daps in 10 years?
Peepcoin will be listed on CryptoBridge and TradeSatoshi soon, and Cryptopia has been paid and is now going through the verification process. We have a couple ideas in mind to expand our outreach significantly and community before we move onto larger venues. Partnering with other projects will be part of our work as we go forward too. We are also seeking services to work with us in the far future.
In terms of long term goals we want DAPS to be the coin that pushes crypto into the mainstream with mass adoption initiatives. These future plans include a full ecosystem which enables users to trade skills or offer bountry work, or even ask for funding in a gofundme/kickstarter style platform using DAPS as the main currency. Long-long term we want DAPS and our project to work with governments and lobby unfriendly governments to open their systems to blockchain as a whole and prevent crackdowns on end crypto users.
How do u see the future for privacy coins, now that governing bodies seem to have started regulating/banning privacy projects?
We believe that many privacy coins are a target for governments, and will continue to be unless projects and development takes a cooperative stance towards such authorities. In order to foster trust with these entities our project will go the extra mile to have our team be audible and ready to comply with any information requests these authorities may make.
We believe that separating the use case of the coin itself from the development team is what will protect the end user from being targeted by such authorities. Attempting to balance the need to protect privacy vs the need to ensure that our project is ran by legitimate actors and able to be fully compliant will be an important aspect in the long term.
How do u see the privacy coins sector & the other privacy coins — past, present & future?
Other privacy coins may have their flaws, but we regard privacy coins as the natural evolution of blockchain. While the idea of fully exposed ledgers is noble, the practical usage of these systems allows them to be tracked. This tracking exposes many users of blockchain just for trying to take part in this revolutionary system.
Current privacy coins in circa 2018 are alot of smoke and mirrors. Many use already tested methods in known exploitable configurations (enabling zerocoin minting) or implement known features and claim to be first movers in such measures. We give credit where credit is do, and attempt to respectfully expand the base that coins like Dash, Zcash, SpectreCoin and Monero have built for our project.
We believe in the future privacy coins will be the dominant niche of blockchain usage due to the increasing scrutiny from otherwise unfriendly governments. This scrutiny will open a door for projects like ours to present our professional team and auditable development as an alternative to other looser organization which flaunt such checks. As cryptocurrency is cracked down on in the future, only serious and pragmatic projects will survive.
THANKS TO CAPTAIN DAPER AND DAPS FOR BEING GOOD SPORTS & PROVIDING SUCH GOOD ANSWERS!
MUCH OBLIGED, FLASHY GORDY
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