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July Newsletter

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  • July Newsletter

    DAPS Coin

    What's been happening in DAPS world?
    What's Been Happening in DAPS World?
    Birthdays, audits and tons of tweets while our devs are still working and auditors are hacking.

    Firstly, thanks for celebrating our first birthday with us and secondly, thanks for the patience while our audit is in progress.

    In this newsletter we will recap some of the latest activities in DAPS world plus update you on our technology. We will slowly start releasing more in-depth technical articles about DAPS combined with a few releases in major crypto publications as our mainnet is approaching fast.

    We are working on guides for masternodes too but let us know if you have any other suggestions and we will try to get all the materials done over the next few weeks.

    Our leadership will be doing interviews this next two weeks and with that looking to launch a YouTube Q&A session.

    Enjoy the newsletter!
    DAPS Code Audit is Underway!
    Following the successful completion of testnet and the DAPS chain coding, the audit is underway and tracking well so far.
    At DAPS we believe in doing things right. We make decisions based on what’s best for the business and the community as a whole.

    That’s why we decided to do things slightly differently to other projects. We are doing a security audit before releasing mainnet. Most other projects release mainnet and then scramble when someone finds an exploit, we are going the opposite way and ensuring there are no known exploits upfront.

    While security is an ongoing practice, we are taking the big steps first!

    With this in mind, DAPS is proud to announce that we appointed Red4Sec for the security audit of the DAPS chain and QT wallets. Red4Sec is well known for their previous work on projects including Nano, QRL, Credits and NEO.

    Read the full blog post HERE

    The next audit update will be once Red4Sec completed the audit.
    We Celebrated DAPS First Official Birthday This July.
    Just like your child’s first year, this first year of DAPS has been a year of ups and downs, laughter and tears.

    The team at DAPS are proud of everyone here. We love to be with you all on this amazing journey.

    We had so many things to celebrate, read our blog for some of the highs and lowsin the first year as DAPS.

    We also ran a giveaway competition giving over 30 participants some DAPS. Thanks to you all for the amazing support and making DAPS possible.

    We loved all the tweets and messages in our channels too!
    Two New Videos on YouTube
    We managed to get some video material of previous interviews and pitches and added them to our YouTube channel.

    Video 1 - Adel talking about blockchain technology in LA 2018.

    Video 2 - Andrew delivering a pitch during Blockchain Week in NYC 2019.
    DAPS is Going to Canada
    DAPS is excited to announce our partnership with the 2019 Blockchain Futurist Conference this August 12 - 14 in Toronto, Canada.

    It is the largest most high profile blockchain event in Canada with last year’s conference bringing together +2300 attendees, +60 speakers, and +80 media.

    As a part of the DAPS Coin community, we would like to invite you to this iconic event and want to offer you a 50% discount code off all tickets types.

    Use code DAPS50 at the checkout to receive your discount. Go to FUTURIST19.COM for all the info.CLOSED

    Follow @futurist_conf or @untraceableinc on Twitter for all the updates. We hope to see you there, your future will thank you.
    DAPS Legal Assistance Regarding Cryptopia Liquidation
    Our legal team Agile Legal Consulting has noted some details regarding Cryptopia liquidator Grant Thornton's recent update: ✅

    Important takeaways from the report include:

    They have recovered the customer holdings database from Phoenix. This means cryptos that were unaffected by the previous hack will likely be distributed to their respective owners.

    They are unlikely to simply open withdrawals for customers, they are currently contemplating the best method to distribute the crypto.

    They are considering, as liquidators whether they need to KYC each individual when returning crypto. However, from our understanding, we do not believe they do.

    Unfortunately, the Cryptopia hack and liquidation scenario as an unprecedented process, thus we believe the process to take a significant amount of time before anyone receive any of their cryptos.

    Liquidator Grant Thornton's recent update can be read HERE
    More Amazing News Regarding DAPS Technology
    Since the news release of DAPS having Bulletproofs, we had lots of conversations over the last few months - of blending the best of Monero and PIVX.

    What this meant in the early days was that we used some of their libraries and concepts.

    What does this mean today, has anything changed?
    The short answer to this is yes.

    What has changed?

    Just before we went into the code audit, we removed the last remnants of anything Monero related in our repositories.

    This means that not only do we have no dependencies on anything Monero related, but it also means that the RingCT, Ring Signature and Bulletproof implementation we have is 100% ours.

    Is this a good thing?

    Of course, it is. It means a few things:

    1. We have our own unique implementation.
    2. We absolutely have to it audited anyway because it may have issues that have not been seen before. Hence making the audit even more important.
    3. There have been some comments made online by folk who have said "Monero already paid to have that code audited, perhaps DAPS should pay Monero", guess what, NOPE!
    4. We do not need to accredit Monero in our repo at mainnet because we do not rely on them at all.

    There will undoubtedly be a few questions that come up at this point.

    For example:

    1. Why do this? Why not just use Monero code?
    2. So if Monero has a vulnerability in their code, does this mean we won't have it?
    3. But Monero is good at what they do, what makes you think our developers did a good job?

    So let's answer these questions:

    1. It's both a simple and complex answer at the same time. The simple reason is that it's easier to maintain a single code base with relations to a single other repo (in this case PIVX) than to have to manage changes and improvements in 2 separate repos and then to have to attempt to integrate them and all the issues that can come of it. DAPS and Monero use different elliptic curves so we had to go custom.
    2. Correct!
    3. Because we have already tested it in 2 separate beta tests and it worked exactly as expected each time! That, plus the auditors will let us know if there are any issues with it.

    So to wrap it up DAPS code no longer has any dependencies or references to Monero.
    Our developers are amazing!
    Our Current Exchanges
    We have a great variety of exchanges to trade DAPS on. This is a summary with trading pairs and KYC requirements for your convenience.
    Remember that storing DAPS on exchanges are a big risk. Keep them in your own wallet where possible.
    DAPS Feature Update
    We've decided that multisig wallet functionality is a must-have feature and would be a great start on expanding DAPS Coin and its use cases.

    We're happy to share with you that our developers are currently working on making this possible.

    Will this impact the current audit time? NO.
    DAPS Pitch Deck
    Looking for a fast, simple and easy way to explain DAPS to friends or family?

    We are happy to share with you a pitch deck that we recently created. We'll do an updated one again just before or after mainnet release.
    Recent Community Content
    Thank you very much to those who create content about DAPS, we appreciate it a lot!

    DAPS Bulletproofs Article

    DAPS Review on YouTube

    DAPS Review on YouTube - Polish

    DAPS Review on YouTube - Portuguese
    Last edited by DAPS User; 5 September 2019, 11:36 AM.