What Is Decentralized data crypto system(DCS)?
The blockchain has become more and more popular among the public due to its advantages of decentralization, anonymity, fair autonomy, and immutability since its birth. However, more and more “privacy” related issues have gradually emerged with the boom of the blockchain industry. For example, Decentralized data crypto system activity data is recorded and disclosed on the open blockchain network. Therefore, how to protect personal property privacy, data privacy, and even identity privacy has become one of the focal points of future blockchain development.
Along with blockchain’s second decade, people talk more about commercial applications. Although Bitcoin is considered the most transparent payment method at this stage, when it comes to privacy, it is the pain point. Bitcoin does not show the true identity of the trader on the public ledger, but the wallet, amount, and time of the transaction can all be queried on the public ledger. And due of the reproducibility of Bitcoin, once an address is associated with identity, all information related to this address can be exposed.
Decentralized data crypto system People may be able to infer the true identity of the trader based on the number of transactions recorded on the public ledger, the object, and the location of the IP. In such form of “pseudo-anonymity”, once the real identity is exposed, the public ledger can show everyone your bills, consumption habits, wealth status, source of funds, counter parties, and so on, which will cause many security concerns such as asset information security or personal safety.
Decentralized data crypto system Storage Key Points
|Coin Name||Decentralized data crypto system|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Blockchain is changing the world
Decentralized data crypto system entered people’s vision with the birth of Bitcoin in 2008. Blockchain technology combines distributed ledgers, distributed networks, and consensus mechanisms, with the characteristics of decentralization, anonymity, immutability, and encrypted calculations. It has successfully realized peer-to-peer electronic transactions without any other intermediary or trust basis. Blockchain is gradually changing the development mode of the financial system, such as the financial sector, retail, e-commerce, transportation, medical care, media, real estate and other fields, etc., are gradually adopting blockchain technology to reconstruct its business model.
Openness and transparency VS Privacy protection
Mainstream digital assets now fully adopt an open and transparent ledger, any user can query each address. Therefore, the total amount of funds and detailed transaction records of each address are essentially completely exposed. Many blockchain-related research projects and developers have even developed the program to monitor specific addresses and transactions.
Although the address is anonymous, once the address is associated with the user’s identity, user data and transaction privacy will be disclosed. Decentralized data crypto system account and transaction data of ordinary users are nakedly disclosed, which is a big challenge for user privacy. The following figure is a partial interception of the data tracking chart of a certain Bitcoin address by chain-info.
The development of privacy-focused coins
Many developers have discussed the concealment of blockchain transactions and tried to add concealment functions to the original blockchain architecture since the day Bitcoin was launched. In 2014, Dash became the first cryptocurrency with the concept of privacy-focused. DASH is based on Bitcoin’s decentralized peer-to-peer network, with CoinJoin, an anonymous coin mixing method, which clearly uses a coin mixing structure and the technology of private sending. Although it is possible to protect the information of traders by using mixed currency, it cannot hide addresses as it can only mix the amount of tokens.
DCS Decentralized Encrypted Certificate System
In order to satisfy good experience for users and achieve privacy and security on mainstream digital currencies, DCS chose to develop the smart contract Decentralized data crypto system on the BSC chain, which is a set of decentralized encryption certificate protocols, the “indefinite bearer encryption certificate” that does not require a third-party trust basis, it adopts the “zero-knowledge succinct non-interactive knowledge argument and mixed data structure so that to ensure the anonymity of the certificate holder, the privacy of message transmission and data structure privacy.
Each time to use the decentralized encrypted credential system will charge a fee of 0.2% as the platform’s revenue. In order to encourage users to use the system and increase the complexity of the data structure, Decentralized data crypto system designed the platform token economy and has created a decentralized, hidden, secure and mutually beneficial shared token economy to encourage the users and early participants.
Development Of Business Application
Privacy protection is extremely important in many business fields. Nowadays, a company may not want to reveal their related customers, however, Decentralized data crypto system can still predict the list of customers by inquiring about the company’s transactions, which actually brings certain threats as competitors can also get some information from it. Furthermore, the information like how many Bitcoins, Ethereum and other digital assets you have, what Dapp you use, and what types of DAOs you add, etc., may actually be inferred through transaction transfer records! Therefore, the importance of “transaction privacy” cannot be ignored!