Dash (DASH) - a cryptocurrency with three names

First there was Xcoin, then Darkcoin, and now Dash. In the next episode of the cycle describing cryptocurrencies, we present a code-based design that ensures anonymity Bitcoin i litecoin. However, anonymity is limited, which is now proving to be a great option.

The Dash cryptocurrency was founded in 2014, although it would be more appropriate to write that then the cryptocurrency, which today is called Dash, was created. It changed its name twice. Initially, it was Xcoin, and then Darkcoin, but this name - in the era of more information about crimes in the Darknet - was quickly changed for image reasons.

Anonymity - yes, but limited

So, since 2015, we have Dash, a cryptocurrency that provides real-time transactions. Its assumptions were and still are to provide users with anonymity. However, it is worth remembering that this is only an option and not a permanently implemented solution. Moreover, transactions can be anonymous only up to the amount of 2. Dash units. As of December 18.12.2019, 80, this gives the equivalent of approx. USD, which is quite a lot, not only for Polish conditions.

Thanks to this, Dash is classified as a private coin. However, it does not lose its effect, such as the completely anonymous Monero, which became popular very quickly thanks to this functionality. It turned out that a large group of enthusiasts of this cryptocurrency were ... criminals who settled accounts with each other in Monero, but also took tribute, ransom, or payment for drugs, weapons and human trafficking. As a result, more cryptocurrency exchanges began to withdraw from Monero trading. We can now say without too much risk that we are witnessing its decline.

Read more: Another cryptocurrency exchange resigns from trading Monero [Bitbay]

The solution used in the title cryptocurrency is therefore definitely safer from the point of view of the cryptocurrency itself and the entire market. At the same time, it allows the anonymity of transactions of some users.

Miners and masternodes

Dash is of course based on blockchain technology and Bitcoin's source code, but some developers say it takes a lot more from Litecoin. First of all, it's about the speed of transactions that are… instant. Why the lack of delay? Transactions are confirmed in two ways. On the one hand, by miners who receive 45 percent. rewards for each block, but also masternodes, which ensure the immediate response of the system.

What are masternody and how do they work? A full network node with at least 1 thousand Dash units can become Masternode Dash and - like miners - receive 45 percent. block rewards. Masternodes are designed to confirm anonymous transactions and instant transfers. They also take part in deciding on the division of the DAO Dash foundation pool, to which 10 percent goes. rewards for each mined block.

What makes Dash different in the cryptocurrency market?

Dash is often confused with Dashcoin, but wrongly because they are completely different and different cryptocurrencies. In Dash, after each block, the difficulty of extracting the next block is adjusted (e.g. in Bitcoin, the adjustment is made every two weeks). We have already written about instant transactions based on Instand Send, but it is worth paying attention to the rapid development Lightning Network, which can revolutionize the market not only for cryptocurrencies, allowing for express confirmation of transactions outside the main code chain.

Where to buy Dash units

Dash is a cryptocurrency that belongs to the top in terms of popularity. It was brought about, among other things, by the possibility of anonymizing transactions, but also by a spectacular growth. Dash is - next to Bitcoin - the second cryptocurrency in the world, the price of which has exceeded $ 100. Then it was even better, until the summit on 20.12.2017/1642. Back then, you had to pay astronomical for one unit at today's valuation of $ XNUMX.

Be sure to read: Cryptocurrency exchanges. Summary of the most popular offers

As at December 18.12.2019, 4,71, Dash costs USD 385 with a capitalization of USD 250,5 million. Daily turnover on this cryptocurrency reaches USD 850 million. Thanks to this, it can be traded on XNUMX cryptocurrency exchanges around the world.