https://altcoinherald.com/darkcoin-releases-darksend-rc4-effectively-creating-digital-cash/Despite the gains made by cryptocurrency in the past years, cash is still incredibly useful.
In the ‘real world‘ there are many times when cash payments are preferable to alternatives. The same holds true for digital currencies. In matters of privacy, cash is king because it allows individuals to make payments that can’t be traced.
Darkcoin has been working towards creating a digital equivalent. Darksend+ is their newest advancement on that front.
Darksend+ Is Designed To Protect Privacy
Darksend+ Is Designed To Protect Privacy
Darksend+ utilizes ‘coin mixing‘ in a manner that should be unnoticeable by end users. As we’ve often stated, technological solutions that do not offer ease of use will not succeed as payment processing options. Darksend+ removes the technical barrier that could prevent people from using anonymous coins.
Bitcoin has been leading the way for years in the virtual currency arms race, but the inherent privacy issues of BTC remain troubling for many. In a world where ‘snooping‘ by unauthorized third parties is common, many are concerned about who will gather their information and how it will be used. As history shows – it’s a valid concern. Over the last decade privacy has suffered enormous erosion as online archival and unauthorized access to data has become commonplace.
Privacy Remains A Top Issue
The only thing more sensitive to many people than personal health information is personal financial data. Darkcoin has been geared towards alleviating those Bitcoin weaknesses from the very start of the project. With Release Candidate 4 of Darksend+ they appear to be closing in on their objectives.
This pressing concern has become even more urgent since the ‘BitLicense‘ was proposed in New York. This regulation would make monitoring and archival an intregal part of cryptocurrency based on a legal framework that would leave the so-called ‘privacy‘ aspects of Bitcoin in tatters. It’s already relatively easy to trace Bitcoin payments and as ‘big data‘ continues to get involved it will only get easier. After all – tracking, collecting, and collating data is what they do!
Darksend+ RC4 is currently being run through its’ paces by Darkcoin enthusiasts. When the final release is made, Darksend+ will be open source. At that point major adoption is possible. Although Bitcoin has first mover advantage in the virtual currency arena, the lack of privacy is a major weakness that has to be rectified.
Darkcoin Must Overcome Long-Term Challenges
Darkcoin has a number of long-term hurdles to overcome. Many of them are the kinds of things that are true of all altcoins, such as:
Adoption on a wide scale.
Consistent marketing.
Creating addition features.
Making the end product easy-to-use.
Creating education resources to attract new people.
Dealing with price instability.
However, Darkcoin will also face a few additional obstacles, such as:
Creating a legal framework that protects team members from legal action.
Extending their open source framework so that useful add-ons are created.
Dealing with regulatory complexities.
Lobbying for ‘pro-privacy‘ issues to ensure the efficacy of the project.
These barriers can be brought down with enough drive and enthusiasm. Energized teams can change the world – as has been proven countless times. Luckily for Darkcoin, the types of problems their version of ‘digital cash‘ solve are the kind that apply to very rich people. Wealthy individuals have a need for financial privacy in a manner that the rest of us don’t have to worry about. This market should be enough to drive Darkcoin for the foreseeable future. You can learn more about the Darkcoin project here.
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