What is "Darksend" and how to use it?
Well, there it is... A simple question... I can see some options for "Darksend" in my wallet but I have no idea what that is and how to use it I also cannot find anything on this forum related to it, so it would be great to get some explanation!
Thanks a bunch and enjoy the music
@errata, PrivateSend (DarkSend) is a coin-mixing service based on CoinJoin, with numerous modifications. These include using masternodes instead of a single website, chaining by mixing with multiple masternodes, restricting the mixing to only accept certain denominations (e.g.: 0.01 DASH, 0.1 DASH, 1 DASH, and 10 DASH, etc.), and passive mode. The maximum allowed for a PrivateSend transaction is 1000 DASH.
Later iterations used a more advanced method of pre-mixing denominations built into the user's cryptocurrency wallet. The implementation of PrivateSend also allows masternodes to submit the transactions using special network code called DSTX, this provides additional privacy to users due to the deadchange issue present in other CoinJoin based implementations such as DarkWallet and CoinShuffle.
In June 2016, DarkSend was rebranded to PrivateSend.
In its current implementation it adds privacy to transactions by combining identical inputs from multiple users into a single transaction with several outputs. Due to the identical inputs, transactions usually cannot be directly traced, obfuscating the flow of funds. PrivateSend makes Dash "fungible" by mixing the coins in the same denomination with other wallets, ensuring that all coins are of the same value.
Simply put, Darksend is a service that allows you to make your payment anonymous. But for this service you have to pay.
Thank you very much for clarifying this!