Although there are technical differences, the market cap gap is so huge that I think Dash is undervalued. Differences in architecture integration methods (native layer vs. extension layer): ZEC: Zero-knowledge proof is the native core of its Layer 1 mainnet. All assets and transactions are deeply integrated with the shielded pool from the design of the underlying protocol, and its security is directly tied to the POW consensus mechanism. Dash: Instead of performing a hard fork modification on the original Core chain, it places Orchard technology on its Evolution sidechain/application layer. Due to the cross-chain/dual-layer structure, the experience for regular users feels relatively fragmented, and most tokens circulating by default on the mainnet remain in a transparent state.