The advent of the blockchain technology brought bitcoin to us which was a revolutionary move to reduce the exploitation of traditional banks and financial institutions. The blockchain technology brought more opportunities, and developers did not stop at the bitcoin, they kept on working and coming out with other blockchain based programs and cryptocurrencies, and one of such cryptocurrencies is the Dash.
(Image Source : https://www.dash.org/)
Dash was formerly called “XCoin” and “Darkcoin” is blockchain based open source peer-to-peer cryptocurrency and was launched on January 18, 2014. The cryptocurrency was originally created to promote user anonymity and privacy, however in addition to their encryption stance; they also have other plans in mind, like aiming to become a daily transaction mode of payment. Dash is a fork from the Bitcoin blockchain, and while they have similarities, they also have differences. One of the major differences between Dash and Bitcoin is the algorithm used for mining coins, while Dash uses the X11 algorithm which is a modified version of the Proof of Stake algorithm, while Bitcoin uses the SHA-256 algorithm which is a part of the Proof of Work algorithm.
Features
- Masternodes: Bitcoin functions as a single-tier system of network, the miners do all the jobs on the network, however, Dash’s network is two-tiered, one tier assigns some of the network functions to the miners, while the second tier is made up of “masternodes” that will be able to perform governance, Instantsend, and Privatesend functions.
- PrivateSend: With Dash, users can send funds privately, without it getting mixed with other transactions, and as such, identifying specific transactions will be difficult. However, for a user to use this feature there has to be a limited cap of 1000 Dash.
- InstantSend: With this feature, users can perform transactions within 1.5 seconds, but such transactions will attract higher processing fees.
One of the latest developments from the Dash team is the implementation of an architecture known as the “Dash Evolution”. Dash intends to make good their promises of making their system process instant digital cash and making it easy to use, and to this end, the Dash Evolution API and mobile app was created to allow users and online stores make and accept payments respectively, without any interaction with the blockchain.
Dash tokens can be gotten from different exchanges like Binance, Coinspot, CEX.IO, Bleutrade, BitBay, Changelly, Mercatox, Cryptopia, ShapeShift, KuCoin, Poloniex, Kraken, and Bittrex.
Token Information
Token: DASH
Total supply of token: 8,000,000 DASH
Available supply: 8,000,000 DASH
Market Cap: $2,492,000,000 USD
Price: 1 DASH = 0.0443344BTC ($300.902 USD)
For over three years, Dash has done nothing but impress its users, and hence grown its community. The decentralized governance has been responsible for the improvements happening to the two-tier network system. Dash has continued to enjoy steady and exponential growth, and this is why it has remained among the top altcoins used by many. The developers are not resting, as they are working round the clock to ensure they can come out with better features.