jakiro
Written by: 0xjs@bitchainvision
Dash has performed well recently.
Within 7 days, the price of DASH started to rise from 41 US dollars. Even during the sharp drop on November 3, it was not affected. On November 4, DASH rose to a maximum of nearly 140 US dollars, more than three times the original price.
Why has Dash’s recent price performance been so impressive?
Dash official also issued a document summarizing the reasons. It stated that this was not achieved overnight, but was caused by the five major achievements made in the past few years.
1.DashSpend
First, DashSpend was released.
DashSpend demo at Starbucks McCafé
The consumer feature that offered deep discounts was formerly a standalone app called DashDirect, but that app ceased operations a few years ago.Now, users can use Dash directly from their wallet to spend at hundreds of thousands of merchants.
2. Bill payment issues
Second, the issue of bill payment is delved into.
Thanks to Spritz Finance, Zypto, Swapin.An estimated 3 billion people around the world could potentially pay at least some of their bills with Dash.
‘Project Three Billion’: Dash ready for global rollout
Three billion people.
This is roughly how many people we can allow to live under a decentralized monetary system.
Not tomorrow, not ten years from now.But today.
First, a brief background introduction.
Dash’s Killer App: Cryptocurrency Spending
Dash is one of the oldest cryptocurrencies.For ten years we have been delivering a decentralized digital currency that is private, instant, affordable, secure and easy to use.It operates stably and reliably.During this period, we have continued to refine and improve our technology and are fully prepared for true mass adoption.Now, this moment is coming.
But completely changing the world’s reliance on fiat currencies and banking systems will not be easy.This will require a fundamental rebuilding of the global economic infrastructure or, in the meantime, the establishment of new links to the old system.And we’ve done it.
If you download the DashPay wallet, you can see for yourself how Dash makes it easy and convenient to pay for goods and services in the real world, with deep discounts.
Now that we’ve done that, we finally have the necessary start-up capital to tackle the toughest problem of all: bills.
The hardest hurdle to overcome: Bills
Over the years, we’ve seen all kinds of goods and services exchanged for cryptocurrencies: pizza, alpaca socks, VPNs, questionable items on the dark web, and more.We also see prepaid debit cards, digital gift card providers, and more acting as middlemen to help people use cryptocurrencies as currency.
Unfortunately, the most important aspect of living entirely on cryptocurrency — paying your bills — also happens to be one of the most complicated.This is because bills are often tied to a personal identity and account (as opposed to anonymous goods or services that can be purchased with cash), which means interfacing with traditional financial services institutions.And these institutions have historically been hostile to cryptocurrencies.
Dash users in many countries have long been able to purchase a wide variety of goods for small purchases, but they still relied primarily on their banks for their largest, most important expenses.This means that for some, Dash is a novelty; for the very few users who can create a personalized local peer-to-peer economy, it is a true digital currency; but for users around the world, it is far from a mainstream currency.
We’re solving bill payment issues
This challenge has changed significantly in recent years.Thanks to the growing demand for cryptocurrencies as currency, and the push of some innovative companies, many users around the world are now able to use cryptocurrencies to pay all their bills: utility bills, mortgages, rent, internet bills, phone bills, and more.These companies allow users to add current bill payers, pay with cryptocurrency, and then have them pay on their behalf.And, all of these great services accept Dash.
The most established of these is Swapin, which allows Europeans using Euros to seamlessly pay bills with Dash.Bitrefill covers El Salvador.Spritz extends this support to the American public.Zypto allows users in the United States, Mexico, Costa Rica, Honduras, Guatemala, Egypt, India, Pakistan, Philippines, Malaysia and other countries and regions to use Dash to pay bills.It’s worth noting that in some regions, like the United States, Dash has built redundancy with multiple bill payment providers, so even if one company goes down, users still have a backup plan.
It’s worth noting that all of these services are non-custodial, meaning users don’t bear the risk of custody of their funds and can instead make payments using a wallet they control.
3. Improve the confidential payment function
Third, we’re making improvements to our confidential payments capabilities across the board.
This is Dash’s original feature launched in 2014, but we’re making significant improvements to make it faster, more efficient, and more stable.We believe privacy will thrive in 2025!
Dash is overhauling and simplifying its privacy features.
In June 2024, Dash DAO held a vote on an issue.Governance Proposal To improve the way user payments are kept confidential and secure, the first step is to add Confidential Transaction (CT) support, which will bring a range of different optimizations.
background
Since its launch in 2014, Dash has worked to continue Bitcoin’s original promise of permissionless digital cash.One of the first improvements is the CoinJoin functionality implemented at the protocol level.When this feature is enabled, the transaction graph (the path between sender and receiver) is effectively broken down, allowing users to transact with peace of mind without worrying that their private financial information will be leaked to the counterparty.
Dash’s CoinJoin functionality has been refined over the years and is supported by all dedicated wallets.However, as technology advances and user needs evolve, we are making major upgrades to this feature to make it more efficient, convenient, flexible, and easy to use.
New Chapter: Confidential Transactions
Dash will be adding support for Confidential Transactions (CT) in the near future after the DAO votes to move forward with this upgrade.
In short, CT hides transaction amounts and address balances, so while you can see where a transaction comes from and where it goes, only the sender and receiver know the exact amount of the transaction.If CT is adopted as the default standard by wallets, ordinary users can immediately and seamlessly conduct transactions without worrying about the amount of their funds or the amount of goods/services purchased being leaked, while also retaining a transparent record of payments on the blockchain for accounting purposes.
CT (Secret Technology) is a well-proven cryptographic technology that is the basis of many modern privacy solutions, and notably has been recently adopted by many major projects in the non-explicit privacy space, including Solana, PayPal, and Circle.CT is quickly becoming the standard for confidentiality, with even the most stringent regulatory agencies recognizing it as an essential guarantee for secure transactions.
What can CT technology do?
In addition to enhancing the privacy of ordinary users by hiding transaction amounts and balances, CT is also the first step towards many subsequent improvements.Specifically, it significantly improves Dash’s CoinJoin functionality.
By hiding the amount, the process of CoinJoin can be greatly simplified.Currently, funds are split into different denominations, with each denomination being mixed anywhere from four to 16 times.This makes transactions difficult to track, but also adds time and complexity to the process.With CT, the amounts are hidden, meaning you don’t have to split your balance into dozens of denominations or mix it multiple times.This makes the background blending process take just seconds instead of minutes, greatly reducing the likelihood of users noticing it.
Even if not all users mix different amounts of currency, hiding amounts removes an important analytical data point.In the old system, if a user mixed a specific amount of currency and sent it to someone else, that amount could show up in future transaction records, potentially linking that transaction to existing records if future recipients weren’t careful about protecting privacy.But with transparent addresses, this data point disappears, meaning that even if future recipients pay less attention to protecting their privacy, there is significantly less information available for analysis.
In short, CT provides a powerful default standard for all Dash users, helping them protect sensitive financial information while unlocking new tools for advanced privacy users.
looking forward to
While CT is the first step toward achieving major improvements to Dash confidential payments, there are other relatively simple additional steps we can take to further improve its effectiveness.
First, we can implement Sietch, which is a technology pioneered by Hush.In short, Sietch sends a few additional zero-amount outputs with every transaction, making every payment look like a multi-party payment.This technology was originally designed to close the last remaining holes in zero-knowledge cryptocurrencies like Zcash.While there is no point in implementing Sietch in a fully transparent blockchain (anyone can see which outputs actually send no tokens), in a Transparent Transaction (CT), outputs that contain tokens and outputs that do not are indistinguishable.It’s worth noting that Sietch can be implemented at the wallet level rather than the protocol level, so no changes to Dash’s codebase are required.
Wallets integrating Sietch and CT by default can provide Dash users with good instant transaction privacy without having to implement any interactive features such as CoinJoin.However, when Sietch is combined with CT and CoinJoin, we get a very powerful privacy solution: transaction amounts are hidden, the transaction graph is destroyed before and after the transaction, and multi-party payments are indistinguishable from single-party payments.This provides Dash users with a powerful set of features that help them achieve the level of payment confidentiality they require, while maintaining the transparency of the blockchain, ensuring that the source and destination addresses of a transaction are always traceable.
Another potential improvement is to improve privacy protection at the network level to prevent malicious nodes from eavesdropping on transactions.One of these improvements is… the Hawkweed Protocol, which actually makes it as difficult as possible for these cyber spies to know which node created a given transaction.
Next steps
The next priority is integrating CT support into the Dash protocol.After that, we will add CT support to our own dedicated wallets and services, and further optimize CoinJoin to make it compatible with CT.Finally, we will seek as many third-party wallets and services as possible to deploy CT in the broader Dash ecosystem to provide the best experience for users.
A new era has arrived.Dash always adheres to its original intention and is committed to becoming the most efficient, convenient and complete confidential digital cash.Join us in bringing it to the masses.
4. DEX integration
Dash is added to Maya Protocol.Maya is a powerful cross-chain AMM DEX that supports decentralized Dash transactions worldwide.It is the first DEX platform to integrate Dash (making it extra special), but there are more features coming soon.
5. Dash Evolution, smart contract function
Finally, and most importantly: Dash Evolution.
Dash has released a new blockchain called Dash Evolution, the core of which is an advanced index database with proof capabilities.This powers our username system, but it does much more than that.
Evolution is a platform for executing data contracts.These contracts write data to decentralized storage that is indexed and queryable.Sidechains run by the same nodes as the main chain handle data transactions, while the network’s decentralized API allows anyone to access this data on demand.
It is ideal for any application that needs to store data in a decentralized manner and be able to quickly search and access the required data.For example, accounting software, business maps, social media, etc., any application that needs to store data in a decentralized, censorship-resistant manner and can easily access the required data anytime and anywhere is suitable.
This is an ambitious project.It’s not just about adding a new set of features to Dash, but about launching a new, distinct blockchain network that will interface with the existing Dash network.
Dash smart contract functionality will be launched in 2026.
