User:Hamed.e.yousefi/sandbox

= DAPS (cryptocurrency) = DAPS (/dæps/) stands for “Decentralized Anonymous Payment System.” DAPS implements technologies from PIVX (Staking and Masternodes) and the best privacy features from Monero (RingCT, Ring Signatures and Bulletproofs) with focusing on eliminating the exploits (e.g. replacing the PIVX’s Zerocoin privacy functionalities by custom functions). It is the first privacy coin to implement RingCT, Ring Signatures and Bulletproofs with Masternodes and Staking on a hybrid PoW-PoS-PoA chain.

History
DAPS community was born in July 1, 2018 from an coin called Peepcoin/PCN. The decision was to cut ties with this old coin and build a privacy coin and grow DAPS as a brand and solution. DAPS token was then created and airdropped to holders of the PCN coin at a snapshot date taken in June 2018. Users claimed their DAPS tokens through a claiming process and got tokens airdropped at no cost. The project development has been in progress by partnership with the Blockchain software development company Arcadia Group since mid-2018, closed source with development verified by MW Law. The team’s decision to keep the project closed source until mainnet (coming in September 30, 2019) was due to their innovative consensus mechanism called PoA (Proof of Audit), a first in the cryptocurrency industry.

Stealth addresses and Stealth transactions
In DAPS, if a sender wants to send to a recipient, the recipient's public address will then be used for generating a one-time generated public key/address based on a transaction public key generated by the sender per UTXO.

Ring Signatures and RingCT
RingCT (Ring Confidential Transactions) is a way of mixing in a real transaction with a predetermined number of fake transactions. The Ring size determines the number of additional fake transactions that are added. This means that the actual transaction is hidden within a mixture of fake transactions and thus the true transaction and its amount are much harder to discern. While Ring Signatures hide the true UTXOs used as inputs in a transaction (see the following figure) and detects any double spend, RingCT allows full nodes to prove that the sum of transaction input amounts are equal to the sum of UTXO amounts plus the transaction fee.

Bulletproofs
Bulletproofs are short non-interactive zero-knowledge proofs that require no trusted setup. A Bulletproof can be used to convince a verifier that an encrypted plain text is well formed. For example, prove that an encrypted number is in a given range, without revealing anything else about the number. Compared to SNARKs, Bulletproofs require no trusted setup.

Proof of Audit (PoA)
Proof of Audit (PoA) is a proprietary consensus mechanism built by DAPS. It provides the trustless aspect to the chain that most privacy coins lack. PoA is essential to the chain as it guards against the manipulation of the amounts on the chain. Just like a finance auditor, the transaction values in and out must match, if they don’t then someone is attacking the chain and action must be taken.

Masternodes
Masternodes are trusted nodes on the network. A masternode must collateralize itself in order to lock away funds and become a functional node that produces PoS blocks and verifies transactions on the network.

Staking (PoSv3)
Staking is a reward system that rewards users for having their wallet online and for "locking away" a portion or all of their available balance to assist the network in producing blocks and verifying transactions.

PoA mining
Proof of Audit miners audit the PoS blocks on the chain every hour to determine if the maximum supply and expected emissions are correct. These miners generate PoA blocks that contain the data from the audited PoS blocks.