Dash payments are a step above regular crypto payments in usability, but also in privacy, because of one innovative application: DashPay.
The second data contract on the Evolution platform, DashPay allows users to make two-way connections, similar to “friending” on popular social media networks. 🧑🤝🧑
This makes interacting, such as sending money, much easier to do.
How DashPay Works Behind the Scenes
First, a user looks up another user using their username that they registered using DPNS, the first data contract that we already wrote about before (we’ll link that below). Then, they send a connection request. Once this connection is established, users can send encrypted data back and forth.
The first thing shared by identities is an XPUB, or extended public key. This means that now every time a user wants to make a new payment, they generate a new single-use address automatically, without ever having to see or share that address. It’s all back-end.
Not only does this make it much easier to transact, but it’s much more private. 🫥
Extra Privacy for Payments
Two common ways crypto users tend to compromise their own privacy are by exposing their payment address, and by reusing that address for multiple payments.
DashPay solves both by never exposing your one-time address, and by automatically generating a new one for every payment. This concept in crypto is broadly known as a stealth address. 🥷
The Dash payment experience is similar to combining stealth addresses with a name resolver like ENS or Unstoppable domains, except much more powerful, and all built into one system integrated directly into the Dash network.
And, all native Dash wallets support its built-in privacy feature, which, combined with DPNS and DashPay, offer a robust privacy setup for transactions.
Dash is setting the standard for digital cash that’s fast, affordable, private, reliable, and above all easy to use.
Posted Using InLeo Alpha
Here's the post on how DPNS works, which works together with DashPay:
https://inleo.io/@dashpay/how-dash-platform-name-service-dpns-work-di8
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