Why did the Dark Web Give up on Dash Coin

08/17/2023 02:22 • AI Insights • 60 views

Why did the Dark Web give up on Dash Coin? Recently, the Dark Web abandoned Dash Coin because of its anonymity and unrealistic value. But why do most Dark Web users transfer their digital currency to Ethereum?

In order to help everyone have a deeper understanding of the crypto world, we have to approach this issue from a technical perspective:

1. Is Bitcoin a privacy coin?

2. In the Ethereum network, there is only one type of token that can become a medium of exchange (in the form of ERC-20), but this does not mean that it won’t be accepted. This “privacy” is actually achieved through decentralization and non-custodial features on the blockchain. Therefore, for users, asset transfers require a very high network fee – usually a lower transaction fee.

3. Due to the rapid development and increasing maturity of the Ethereum ecosystem, many people have started to use Ethereum as their payment method to accomplish this task. Although many people have already become accustomed to Ethereum, they still hope that Ethereum can develop into a better currency.

4. The 1inch exchange has also launched a new feature: allowing people to create their own wallets through various applications and connect them to smart contracts on the Ethereum network. Additionally, this feature will also help those who want to utilize Ethereum by providing new tools to build and manage their Ethereum accounts.

5. “Immunefi” is another good example because over the past few years, as Ethereum has gradually become more popular, these applications have also been growing, some of which are even associated with Bitcoin. However, in reality, Ethereum still dominates.

6. Other applications in the Ethereum network cannot access Ethereum nodes, or in other words, they have no use case or functionality for running nodes. For example, the “DAG data structure” is designed in this way.

7. Developers of Ethereum in the 5G era have realized that when Ethereum 2.0 is about to arrive, there may be two potential problems: without Ethereum-like scaling solutions, it is difficult for the Ethereum community to understand how to handle Ethereum blocks and whether it can support more Ethereum chains.

8. In the next five years, Ethereum will have two mechanisms to choose from:

1. Ethereum sidechains, which provide developers with fast, cheap, and secure applications (such as EOSIO), sharding protocols, etc.

2. Ethereum Virtual Machine, which allows developers to easily deploy and execute various operations. For example, in the Ethereum Virtual Machine, users can directly write code without relying on external servers to generate transaction information. Smart contracts can also be directly integrated into the Ethereum blockchain. The ultimate goal of the Ethereum Virtual Machine is not to reduce gas costs, but to allow developers to launch their own DeFi projects in a trustless environment, thereby maximizing its value.

9. Privacy layer, which is used to protect client data from being hacked.

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Why did the Dark Web Give up on Dash Coin

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