What is Desire (DSR) Crypto Beginner’s Guide
Desire is a peer-to-peer digital currency and payment network. The transactions are anonymous. Sending and receiving points are untraceable. It utilizes Proof-of-Work mining and NeoScrypt. Desire is a multi-tier network with Masternodes. With 1,000 DSR tokens, users can start a Masternode.
The function of a Masternode is to support the Desire network. After fulfilling the duties of a Masternode, each one will be added to a main list. These Masternodes are reliable and will be tasked with signing blocks, relaying messages, and providing services. InstantX and Darksend are two groups of Masternodes that are used by Desire.
Guaranteed Private Transactions and Currency Mixing
Privacy is ensured with PrivateSend. It is a complete version of CoinJoin. The team behind Desire added several innovative features to PrivateSend including decentralization, anonymity, denominations, and currency mixing. Anonymity is achieved through a chaining approach. Any user can review the public ledger to ensure financial integrity. This process doesn’t compromise another user’s privacy. Mixing requires three participants and different denominations (0.1, 1, 10, 100). Transactions are locked in within 4 seconds.
Block Explorer Description
There’s a block explorer. Users can view transactions. It has a cool, purple color scheme. The search bar and main information line is easy to read. The text contrasts with the background perfectly. The table contains a list of transactions. The hash address of each transaction is displayed, along with the block height and difficulty rating.
Scrypt and NeoScrypt Algorithms
Scrypt is a password-based key derivation function. It was used as a Proof-of-Work scheme by several cryptocurrencies including Litecoin and Dogecoin. GPUs are required to mine cryptocurrencies that use Scrypt. When Scrypt currencies started appearing, the demand for high-performing GPUs increased.
NeoScrypt is a more advanced version of Scrypt. It is more secure than Scrypt. It also performs at a much higher rate. It costs about the same as Scrypt, and the hardware requirements are similar.
DSR Token Trading Information
DSR tokens are traded on several exchanges including Mercatox, CoinExchange, and CryptoBridge. DSR tokens are paired with BTC tokens. DSR has a market capitalization of $57,000. Daily trading volume exceeds $11,600. The circulating supply is 3 million DSR. The total supply is 3.6 million DSR. DSR is ranked 1022nd by market capitalization.
Proof-of-Work Guarantees Value of Tokens
DSR was launched in November 2017. It is a Proof-of-Work cryptocurrency. This type of currency requires the service requester to perform some type of work to ensure the connection is legitimate. Usually, computer processing is offered. This prevents hackers from gaining an advantage over the system. NeoScrypt is resistant to ASIC hardware mining.
Advanced Digital Wallets for Crypto Tokens
There’s a digital wallet for Windows OS, Mac OS, and Linux OS. There’s a Raspberry Pi wallet as well. An Android wallet and iOS wallet was released earlier this year. The team behind Desire is planning an Electrum wallet. The future plans for Desire include a new website, web wallet, and codebase upgrades.