DAPS (Decentralized Anonymous Payment System) is a fully private blockchain with a focus on security, scalability and total privacy. The goal of DAPS protocol was to create a fully anonymous staking coin and payment system with a trustless governance structure, based upon the latest technologies derived from both Monero and PIVX.
DAPS project originated mid 2018 from a passionate crypto community consisting of Peepcoin supporters and individuals believing that privacy is a must have for finances. After a decision was made by the old team back then to completely break away from Peepcoin, DAPS ERC20 tokens were airdropped to eligible holders making the transition to DAPS in full swing. Full-time research and development kicked off, later on old team members and leaders were removed and the project was taken over by the current leadership you see today and the journey began.
DAPS coin successfully launched a first round closed testnet in February of 2019, with a second testnet being successfully conducted in May. At the end of June, with positive results from both testnet rounds, DAPS project team appointed Red4Sec cyber-security company to carry out a full audit of their code, catching potential exploits and security vulnerabilities before mainnet is released. On 19th of September 2019, Red4Sec completed the security audit and the project was greenlit to launch the mainnet.
On September 30th, the genesis block was mined on the new DAPS coin mainnet, and a swap process was launched through Swaps.Network partnership which lasted 90 days.
Read more about the project history in the Daps blog:
DAPS Update Regarding Swap and Airdrops - posted on June 27, 2018
DAPS Coin Appoints Red4Sec for Code Security Audit - posted on June 26, 2019
DAPS August Updates – Mainnet Soon! - posted on August 28, 2019
DAPS Token to Coin Transition Process - posted on September 1, 2019
DAPS Coin Audit Report by Red4Sec - posted on September 23, 2019
DAPS codebase was based on the foundations of PIVX by utilizing Proof-of-Stake and Masternodes, and incorporates several properties from Monero such as BulletProofs, RingCT and Ring Signatures, making it the first cryptocurrencies to successfully merge all these technologies together. DAPS has named this combination of protocol implementations as The Harpocrates Protocol. DAPS Codebase is now so unique that it no longer resembles PIVX in almost every way.
One of the large issues tackled by DAPS project is known as the "Trust Issue". In the Masternodes-based blockchain network, the masternodes are responsible for network governance taking care of network inflation, coin supply, and other network parameters. For other privacy blockchain networks using zk-SNARKS, a network-controlling piece of information is exposed to the group, or one person, who deploys this feature to the network. This piece of information can potentially control the network feature. DAPS achieves trustless setup through a Proof-of-Audit, which is described below.
DAPS is a hybrid PoW-PoS-PoA (Proof-of-Audit) blockchain that focuses on the privacy of the users.
It is possible to run a Masternode on DAPS, each masternode must have at least 1 million DAPS coins as collateral, a dedicated IP address and a downtime of no less than 1 hour per day. For their participation, they are paid a portion of the mined block as incentivization as picked from the PIVX “See-Saw” model.
DAPS blockchain system that ensures every user transaction in the network is kept private. It means that even though all user transactions are fully published to the blockchain, no third-parties (except the sender and the receiver of the transaction) can reveal the detailed information within the transaction. Specifically, the following information is kept private in DAPS blockchain:
Ring Confidential Transaction (RingCT) 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 the real transactions are hidden within a mixture of fake transactions. Monero’s ring size currently is 11, but DAPS will have a randomly generated ring size within a given range of 6-12.
Bulletproofs are short non-interactive zero-knowledge proofs that require no trusted setup. Confidential transactions hide the amount that is transferred in the transaction, DAPS uses Bulletproofs as range proofs to prove that the transaction amounts in the transaction are positive.
In DAPS, if a sender wants to send to a recipient, the recipient's public address will be used to generate a one-time generated public key/address based on a transaction public key. Such private key can only be derived by the owner of the public address, who has both pairs of private keys in DAPS dual-key system.
DAPS use a dual key system to provide stealth addresses to obfuscate addresses. A public address is derived from a private view-spend key pair. A public address can contain an optional payment ID, which is usually used by exchanges.
Learn More about the technology behind DAPS:
What is PoA (Proof of Audit) and How Does it Work?
Block verification: PoA/PoS/MN
Proof-Of-Audit algo: Unique
Proof-of-Stake algo: PoSV3
Block time: 1 minute
Block reward: 1050 DAPS
Founder Fee per block: 50 DAPS
Founder fee [block fee] usage: Development fund
Block Reward Split: 900 MN/PoS, 100 reserved for PoA miners
See-saw Masternode/Proof-of-stake: 60%/40% MN/PoS reward split, rebalance up to maximum of 40%/60% MN/PoS
Initial Coin Supply: Maximum 60,000,000,000
Emission Limit: 10,000,000,000
Years of emissions: ~16 years
Approximate annual inflation: 4-12% [Staking; factor of difficulty+luck], or ~550 million DAPS per year until 10b emissions cap is reached.
Masternode Collateral: 1,000,000 DAPS
Confirmations to spend: 4 blocks
Confirmations to stake: 100 blocks
Since launching mainnet in September 2019, DAPS has continued on improving their wallet stability and bringing new features such as multisig and monisig. According to the DAPS Roadmap, they are planning a Developer Program, Hardware Wallet integration, Community Revamp,, Mobile Wallets as well as other improvements to various aspects of the project.