Cryptocurrencies come in different iterations. These functionalities suit respective crypto users because they have different tastes. Two of the most prominent coins, Monero and DASH, often draw comparisons as to which is better —and it is understandable why especially if gamers on BC.Game have to make choices!
Privacy is a key theme for many crypto-gambling enthusiasts. Online gambling is fun but even better with a sense of anonymity.
Sure, you could have the Dan Bilzerians of the world, who also like the publicity. However, the story of many crypto gambling players is that they could always use privacy.
Therefore, Monero and DASH are two coins gamers are keen to have. They have strong privacy credentials with only subtle differences to distinguish the two.
Bitcoin is valuable and more famous but offers pseudonymous anonymity at best.
The story of DASH
Notably, DASH developers initially decided to name it Dark coin. At press time, it had a market capitalisation of $ 1.2 billion.
Each coin trades at about $125. These numbers may not be bonkers like a few months ago, but they are still very impressive.
It serves as a payments crypto that came about as a hard fork of the Bitcoin protocol. The first tier of the blockchain is similar to BTC and utilises Proof of work consensus.
The second tier of the network uses Proof of service (PoSe), a unique scoring system to ascertain that node operators provide services in good faith.
DASH was one of the first projects to use Masternodes. A node operator needs 1000 DASH to run a Masternode.
Notably, DASH deploys the PrivateSend feature for users who wish to remain anonymous when sending funds. This feature comes at a fee and works through a mixing protocol running via the Masternodes.
What is Monero?
If there is one major coin synonymous with privacy, it is Monero.
This coin differs from pseudonymous coins like Bitcoin and Ethereum, which have a public ledger that contains transaction information.
Even if a Bitcoin user uses an alias, an investigator can link their public address with the user. Monero has some inherent privacy features that can prevent that.
It has an intentionally opaque blockchain design for privacy. No one else can see the account’s balance or transaction history. This feature is possible because Monero uses ring signatures and stealth addresses.
These techniques hide the identities of the transacting parties. Additionally, the Ring Confidential Transactions, or RingCT, conceals the transaction amount, adding another layer of privacy.
It had a market capitalisation of about $3 billion while going for $188. Its transaction speeds are considerably faster than Bitcoin’s.
The privacy coin has grown in stature and is on a solid footing.
Comparison between Monero and DASH
Traceability and Privacy
DASH has a hierarchy of nodes, given its implementation of Masternodes. Masternodes facilitate transactions using PrivateSend and InstaSend.
The nodes are unequal, and an expert can trace the transactions. Therefore, transactions via DASH are traceable.
Monero fares better in this regard. The implementation of ring signatures works wonders in enhancing transaction obscurity. There is the confidentiality of address, transaction amount, and recipient address. Accordingly, parties transacting on Monero have better protection against traceability.
On privacy levels, DASH is not that badly off. DASH may not have a singular privacy theme from the offset, and this feature is optional. You can choose the PrivateSend option DASH to prevent third parties from viewing your transactions.
Monero developers encoded privacy into the network. The currency uses a cryptographically secure system to enhance privacy. Therefore, Monero is a clear winner on confidentiality and traceability, as its inherent functionality centres around this feature.
Token Availability and Value
Monero is the slightly more valuable token of the two. DASH has an edge on token availability or scarcity because its creators pegged the maximum supply at 18.9 million. Monero is also a bit scarcer, with a supply of 17.9 million. These coins are offshoots of the early Bitcoin scarcity model and have relatively good tokenomics.
Going purely by current token value, Monero has a slight edge. This token has a value that is considerably above its rival and may pass the eye test better.
DASH displays excellent versatility in storage. It is compatible with many wallets and can work seamlessly with hardware wallets.
On the other hand, Monero is more specific in terms of storage. It has compatibility issues with some hardware wallets.
However, it comes with a web wallet and can work with cold wallets. This issue is not significant but can be a consideration for some.
Monero and DASH, which is better?
Ultimately, picking between any two cryptocurrencies is often a matter of what a person wants to do with each.
For instance, the choice between Bitcoin and ETH often boils down to their store of value and platform crypto qualities, respectively.
Monero has a definitive edge in terms of privacy. For crypto gambling enthusiasts, this is a helpful consideration. Many want to gamble as securely and as discreetly as possible. This token gives you the tools to do just that.
Payment efficiency is a perk in crypto gambling, but privacy is even more special. Therefore, Monero can prove the more useful of the two. The fact that you can execute untraceable transactions adds to the allure.
That said, DASH is not inherently pseudonymous. This coin still has the PrivateSend feature that can provide some benefits.
Additionally, a crypto enthusiast can hold DASH, believing it has a more significant upside than Monero.
Purchasing or earning crypto through online gambling can be from a self-interest state of mind. In this regard, picking between Monero and DASH can be more complicated.
Both coins have unique attractions for gamblers and are supported by a modern platform like BC.Game. It will be fascinating to watch their growth in the future.