What is Dash ? - What exactly can this cryptocurrency
The cryptocurrency was created in 2014 as a fork of Litecoin and is an open source cryptocurrency. At that time, Dash was called XCoin, but was then renamed Darkcoin. Another name change took place in 2015, from then on the cryptocurrency was called Dash (Digital Cash).
It was founded by Evan Duffield and is currently managed by a team of just under ten. The community behind this digital currency is now also very large. The official Dash Forum has over 10,000 members.
This cryptocurrency aims to reduce energy consumption in mining guarantee anonymity in payment transactions and protect the network against attacks. Many developers of the digital currency come from the Litecoin environment.
All the basics about blockchain
In our article about Blockchain you can find out how it works and its advantages and disadvantages.
What is special about this cryptocurrency
What is special about this digital currency are the masternodes there. Masternodes. These secure the network and carry out special tasks. For their services they receive a share of the mining revenue. And that is 45%.
So that one can use a master node 1000 tokens are needed to operate a masternode. These are then frozen and excluded from trading. Running a Dash Masternode can prove to be very lucrative.
The advantages of Dash (Dash)
The digital currency is based on two principles in its function. The Mining and the Masternodes. Like the masternodes, the miners also receive 45% of the revenues as a reward. The remaining 10% is earmarked for costs for further development and marketing.
Dash offers extremely fast, secure and also anonymous transactions, with a transaction taking a maximum of 1.21 seconds with InstantSend. Bitcoin on the other hand, takes 30-60 minutes.
- PrivateSend enables transactions to be carried out anonymously. A transaction is mixed with the transaction of others. This is done by the master nodes and is optional.
- InstandSend allows transactions to be sent instantly, reducing confirmation time to a few seconds. This makes it particularly interesting for real-life merchants when accepting payments. This is also carried out by the masternodes.
- Decentralised voting system. This should contribute to a reasonably democratic, flexible and above all efficient further development of Dash.
The digital currency offers users the freedom to use their money as they wish. Paying the phone charges, paying a bill or even simply paying for a coffee. The cryptocurrency Dash aims to bring money anywhere, instantly.
This digital currency can be received online, received from friends or even withdrawn at a vending machine.
This cryptocurrency is now supported by over 4,800 traders and service providers. In addition, the digital currency can be bought and traded at over 90 crypto exchanges and brokers.
The transaction speed is 1 second.
What are cryptocurrencies
In our article about Cryptocurrencies you will learn how they work and their advantages and disadvantages.
Companies adapt Dash
The digital currency is now accepted by many companies and retailers worldwide. These companies rely on transactions within seconds and low fees at the same time. This makes this cryptocurrency the ideal payment method all over the world.
In the fourth quarter of 2018, the payment volume amounted to 1.4 billion euros. The cryptocurrency had around 42,500 active addresses per day. As well as 9,300 transactions per day.
This cryptocurrency is known for being the first digital currency to focus on usability, anonymity and transaction speed. What many people don't know is that these features are built on a network of dedicated servers called masternodes, which enable advanced features that traditional blockchains can't offer.
Masternodes store the complete copy of the blockchain blockchain and offer a second network layer that enables many advanced functions, such as InstantSend, PrivateSend, and many more.
Dash has by far the most famous master node. To create a masternode it is necessary to deposit 1000 tokens. Since not everyone can do this, it is nowadays also possible to buy a share in a masternode. masternode buy.