The debate over the future of privacy is often fueled by revelations of improper data practices by major social media companies, government surveillance programs, and the continuing trend towards a cashless society.
Privacy is a continually evolving campaign, and financial privacy is an area that cryptocurrencies have been able to address with some profound consequences. Cited by cypherpunks as the last barrier of defense for privacy in a digital age, innovation in the field of cryptography has reached a golden age following the emergence of Bitcoin.
From zero-knowledge proofs [ZKPs] to ring signatures, privacy-oriented cryptocurrencies are forging the path towards enhanced digital privacy. However, their endeavors are restricted by both the available technology and limitations of current blockchain archetypes. Notably, the inefficiency of ZKP technology used in ZCash known as ‘ZK-SNARKs’ from a computational perspective, as well as metadata leaks and the struggles to solve the ‘trust issue’ of public blockchains seeking anonymity.
DAPS Coin – the first staking and masternode privacy cryptocurrency implementation RingCT, Ring signatures, and Bulletproofs – had made some significant breakthroughs concerning the ‘trust issue’ and reaching the ideal iteration of an anonymous blockchain network.
The Harpocrates Protocol and The Trust Issue
Conceived from a vision of improving upon the shortcomings of Bitcoin and ZeroCoin, DAPS Coin Founder Adel de Meyer and CTO Andrew Huntley sought to offer the full anonymity of a cryptocurrency like ZCash without the trade-off of a trusted setup.
de Meyer said,
“The goal of the DAPS protocol is 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”.
The confluence of privacy technologies in DAPS Coin is called the Harpocrates Protocol,