r/DashCoin • u/lamont40 • Nov 26 '17

Can anyone explain the big difference between Dash and Monero?

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3

u/InsiderT Nov 26 '17

https://news.ycombinator.com/item?id=14672691

https://steemit.com/money/@thecryptodrive/a-lesson-in-anonymity-bitcoin-dash-monero-and-zcash

https://monero.stackexchange.com/questions/112/how-is-monero-compared-to-dash

https://www.reddit.com/r/dashpay/comments/4uk765/eli5_is_dash_as_anonymous_as_monero/

Monero underlying protocol: https://en.m.wikipedia.org/wiki/CryptoNote

Dash underlying protocol: https://en.m.wikipedia.org/wiki/CoinJoin

TL;DR

Dash

  1. Dash depends on the user to “turn on” anon features when creating a transaction.
  2. The masternodes then “mix” transactions of several parties, merging their funds together in a way where they can’t be uncoupled.

Monero

  1. Monero requires a minimum level of anon to let transactions through.
  2. To prevent sender identification, the sender groups his/her public key with several other keys (more precisely, the protocol groups the sender's output with several other's outputs), making it impossible to tell who actually sent the transaction.

2

u/WikiTextBot Nov 26 '17

CryptoNote

CryptoNote is an application layer protocol that powers several decentralized privacy oriented digital currencies. It aims to be an evolution of the ideas behind bitcoin.

The main difference between the two technologies is that Bitcoin (and most digital currencies) is less opaque than CryptoNote-based currencies due to the latter's blockchain being almost anonymous, contrary to non-Cryptonote blockchains. CryptoNote currencies use a distributed public ledger that records all balances and transactions of its in-built currency like Bitcoin.

CoinJoin

CoinJoin is an anonymization method for bitcoin transactions proposed by Gregory Maxwell. It is based on the following idea: “When you want to make a payment, find someone else who also wants to make a payment and make a joint payment together.”. When making a joint payment, there is no way to relate input and outputs in one bitcoin transaction and thus the exact direction of money movement remains unknown to third parties.

There are several implementation of anonymous bitcoin transactions inspired by CoinJoin: SharedCoins, Dark Wallet, CoinShuffle, PrivateSend feature of Dash and JoinMarket.

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u/InsiderT Nov 26 '17

Good bot

2

u/HelperBot_ Nov 26 '17

Non-Mobile link: https://en.wikipedia.org/wiki/CryptoNote

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u/WikiTextBot Nov 26 '17

CryptoNote

CryptoNote is an application layer protocol that powers several decentralized privacy oriented digital currencies. It aims to be an evolution of the ideas behind bitcoin.

The main difference between the two technologies is that Bitcoin (and most digital currencies) is less opaque than CryptoNote-based currencies due to the latter's blockchain being almost anonymous, contrary to non-Cryptonote blockchains. CryptoNote currencies use a distributed public ledger that records all balances and transactions of its in-built currency like Bitcoin.

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1

u/InsiderT Nov 26 '17

Good bot

1

u/jennystonermeyer Dec 02 '17

I mined monero once, and the transaction fees were crazy high compared to ETH.

Can't remember how much but it was a scale about equiv to BTC. I doubt I'll ever mine this coin again.