The cryptocurrency market is dominated by five main players, which between them account for around three-quarters of the market capitalisation. These Big Five are Bitcoin (BTC), Bitcoin Cash (BCH), PACcoin (PAC), Ethereum (ETH) and Ripple (XRP). The remaining quarter represents the liquidity of the market and all other cryptocurrencies are bidding to make an impact on this share. One of those is DasCoin, a hybrid cryptocurrency using blockchain technology dubbed the Currency of Trust.
Unique Blockchain Technology
DasCoin is hoping to make a big splash with a cryptocurrency structured on unique blockchain technology. The hybrid technology works together with the regulatory environment as established by governments and authorities (unlike most other unregulated cryptocurrency technologies) and is not entirely decentralised. The technology promotes privacy but eschews anonymity, prioritising fairness and safety as well as the effective functioning of the blockchain network. Control of the network is through a group of entities rather than the entire node network, operating within a cooperative ecosystem in which each entity is allied and interrelated with the next, holding a personal stake in the hardware infrastructure and combining the necessary resources, skills, knowledge and talent to bring it to life.
The Inspiration for DasCoin
Michael Mathias, founder of DasCoin, was inspired to create a decentralised cryptocurrency ecosystem that was beneficial to a wide scope of the population after reading the book ‘Why Nations Fail’. The book, co-written by James Robinson and Darren Acemoglu, inspired a chain of thought relating to increased transparency in terms of financial transactions via a decentralised and cooperative network. DasCoin uses proprietary technology and cutting-edge infrastructure to deliver a system that uses a Know Your Customer approach while complying with all relevant regulatory authority.
Merits of Hybrid Blockchain Technology
BitCoin, one of the biggest players in the cryptocurrency market, has problems with the speed of transactions and with effective scaling. The hybrid blockchain from DasCoin addresses and solves these issues among others. All transactions within the DasCoin network are confirmed with full transparency within six seconds. KYC policies have full regulatory compliance, including verification of identification. The privacy of the users is assured, but without anonymity. The ‘validator’ hardware device facilitates customer withdrawals with high levels of security. Substantial returns for investors in DasCoin are predicted over time, providing traders take an active approach in marketing the ground-breaking technology to others.