Mark Mason questioned Ryan Taylor about the recent tweet from Andreas Antonopoulos who stated, Dash isn’t a privacy coin – it is about being private as Bitcoin only has far less liquidity and use and so it’s anonymity set is worse. He further stated, it just has privacy “mythology” that isn’t based on facts AFAIK – (As Far As I am Concerned).

Mark Mason asked Ryan Taylor, Dash Core Group CEO, if he agreed with this? Ryan Taylor stated that he will agree with it from the stand point that Private Send being an implementation of Coinjoin, it requires absolutely no change to the Bitcoin Transaction protocol at all. 

In order to function, every input, every output, every address, every amount, it’s all there and so in that respect, there’s nothing private about a transaction. 

If you look at FinCen’s definition of an anonymity enhanced cryptocurrency, which people use, the terms privacy coin and AEC interchangeably and no legal body has ever defined what those two things are or whether there are differences between them. But if you assume that AEC equals privacy coin, the definition put forward by Fincen, Dash Clearly Does not Meet it.

It says that it obfuscates these details that those details can’t be analyzed by any third party that’s simply not the case and therefore I agree with that statement. I don’t think Dash is a privacy coin, certainly not from a legal perspective, now does it have privacy feature? Yes, same with many of the wallets available with Litecoin, Bitcoin Cash, and Bitcoin that doesn’t make the currency itself. A privacy network or a privacy currency.

Another question that was put forth to him was if he sees Bitcoin’s Lightening Network as a serious competitor to Dash.  I don’t think and definitely not in its current form.  There is a few reasons to that first of which is, it does not really solve the on-chain problem, in order to open or close a lightening channel, you need to do an onchain transaction.

And, so to custody your own points and use the Litecoin Network, it still has to go in the congested highway in the first place, which leads to a bad user experience.  You otherwise need to use a custodial service, which does away with a lot of benefits in a peer to peer currency. He also stated that there are lot of user experience issues in the Lightning Network including limitations on the amount that can be sent, the complications of routing it and not always having a router available to you that meets the needs of the transaction.  Certain percentage of them just fail and so when you have something that is not reliable and does not provide all other benefits of peer to peer cash I don’t see it as a direct competitor.

We hope you’ll like this article and if so feel free to send a tip to our writers in Dash To :

Address: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

Or any other Cryptos via this link.

Thank You,

The TCAT team.