Bitcoin may be the best-known of the crypto currencies related to blockchain technology, but it’s not the only player in the game. In fact, an argument can be made that the new crypto currency of the day in 2018 is DasCoin. What’s appealing about DasCoin is that it combines the things people like about traditional, centralized currencies with the best of what’s offered from blockchain-based transactions. The result is a hybrid currency with a network of inter-operable distributed applications designed to provide more financial freedom for its users.
DasCoin proclaims itself to be “the currency of trust” in an effort to take away one of the primary reasons some people hesitate to consider the possibilities with crypto currency. In some ways, it meets the basic requirements that serve as the backbone for established currencies like the U.S. dollar. It can also move and manipulate data via blockchain, a type of decentralized technology that allows digital info to be distributed – although this data can’t be copied. There are several advantages associated with this type of crypto currency that make it different from other options based on the same technology.
Scalability and Speed
The main drawback with a “traditional” crypto currency like bitcoin these days is that it has exceeded its transaction limits, which has affected the user experience by causing blockchain delays. DasCoin, on the other hand, is highly scalable; so much so that its system is capable of handling 100,000 transactions per second. As far as speed is concerned, DasCoin transactions typically clear in about six seconds, on average.
Privacy Is Assured
DasCoin has a built-in authentication that creates added security for users. There’s also a master node system. What this means is that each user is “permissioned,” which provides the privacy that tends to be appreciated when completing financial transactions.
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More Checks and Balances
Described as being a “complete ecosystem,” DasCoin is based on a type of blockchain that’s faster, more secure, and more efficient. With security, for example, there’s a “Know-Your-Customer protocol linked to an authentication network. Because of these higher standards with internal security checks, this type of crypto currency is less likely to be used for illegal financial-related activities. A strong system of checks and balances also means more transparency among stakeholders choosing to carry out transactions with a decentralized wallet that allows such exchanges to take place.
Adaptability with User Demands and Regulations
The Know-Your-Customer element of DasCoin instantly makes this type of crypto currency compliant with existing government standards that also apply to traditional currencies. This extends to compliance with standards applicable to money laundering and counter-terrorist financing. As regulations are updated or changed, DasCoin has an advantage since it’s a system that can adapt quickly and efficiently. The flexibility extends to the needs of DasCoin partners and users.
Equity, trust, and security are the hallmarks of DasCoin. And there are all of the reasons why DasCoin may represent the future of blockchain. Right now, Michael Mathias, CEO of DasCoin, is focused on using the digital currency for transactions in the fashion industry. Although the growing popularity of DasCoin also suggests blockchain technology may be advancing to the point where it’s becoming more mainstream.