About Dash

As you know, digital currency was created in order to completely replace fiat money and bring all financial transactions to a new level. Cryptocurrency developers are planning to introduce their product at the state level as well. How real such goals are, only time can tell. But at the moment, none of the cryptocurrencies have been able to fully do this. However, many people already use certain types of coins to pay for goods or services both in the Internet space and in real life. One example of a successful digital product that can be introduced into widespread use among ordinary people is the Dash cryptocurrency. It is about her that will be discussed in this article.

This project appeared on the crypto market in 2014, when E. Duffield announced the release of his altcoin, which was named DarkCoin. However, such a gloomy name was not the best marketing decision, so it was decided to rebrand and change the name of the altcoin to XCoin. After some time, the project changed its name again, the name Dash was taken.

E. Duffield, who is the main ideological inspirer and head of the project, originally wanted to simply improve the Bitcoin system and even collaborated with its developers. He proposed to change the protocol of the worlds main cryptocurrency, but the Bitcoin team refused this idea. That is why it was decided to issue its own cryptocurrency, which is currently very successful and popular.

Dash is a cryptographic system with its own digital currency, which is based on a blockchain. The main feature of Dash is the almost complete independence and confidentiality of the system, the maximum possible speed of all financial transactions, as well as non-disclosure of confidential information and protection of users personal data. It is worth noting that the protection of personal data is carried out by using a special two-layer network technology called DarkSend during all transactions. This technology was developed precisely by the team of this project, therefore it is unique. DarkSend technology can be called a kind of continuation of the CoinJoin project, the main goal of which was to anonymize all Bitcoin transactions.

It should be noted that the Dash cryptocurrency is decentralized. This means that the project does not have a central issuer, and all network participants are equal. At the same time, for successful coin mining, ultra-high powers are not required, as when mining bitcoins. In addition, attention should be paid to the successful implementation of Decentralized Governance, that is, decentralized project management. Each member of the network has the right to contribute their ideas or suggest innovations. Decisions on such issues are taken by universal suffrage.

Dash features

It is necessary to pay attention to the fact that the Dash cryptocurrency, although it is one of the offshoots of Bitcoin, differs in many respects from other altcoins that are currently on the cryptocurrency market. It is the unusual technological solutions, the ability to use coins as a permanent payment currency and the provision of confidentiality for users that allowed the Dash cryptocurrency to become one of the most popular in the modern digital market, as well as to enter the TOP cryptocurrencies in terms of capitalization. An advanced system for further development of the platform, an increased level of security and a unique division of rewards between all participants provide ample opportunities for the value of Dash to grow in the future.

The undoubted advantage of the Dash cryptocurrency, which opens up a wide range of opportunities for a future project, is that it can be used as a currency for daily financial transactions and payments. This became possible due to the fact that the Dash system provides an instant money transfer system. This function works with the support of the InstantSend platform. It is thanks to such a technological solution that the company has made great progress in the modern crypto market, and in the fall of 2017 it was able to come to an agreement with the Wirex mobile online banking project. As part of this agreement, it was envisaged to introduce digital currency into the regular banking system. This solution will enable Dash token holders to carry out financial transactions in more than 200 countries around the world, at all points that accept VISA cards.

Thanks to the use of the PrivateSend mechanism in its system, which provides enhanced protection of confidential data, as well as ensures reliability and confidentiality, the Dash project has received many positive reviews from famous traders and cryptoexperts and recognition of ordinary users.

Despite the fact that Bitcoin still holds the lead in the crypto world, the Dash currency has significant advantages that provide it with a stable position in the cryptocurrency rating. Dash differs from Bitcoin in that:

The InstantSend mechanism is fully functioning, which provides instant financial transactions;
PrivateSend provides additional privacy and stability for all activities;
superpower is not needed for mining, even users with average equipment can take full part in the mining process and receive a low, but stable, and most importantly, net profit;
The decentralization of the platform has been implemented as successfully as possible, and each user takes a full part in the life of the network;
several algorithms are used to implement cryptographic encryption;
the system is two-tier, which provides additional reliability and protection.
Based on all of the above, it can be understood that the Dash cryptocurrency is promising and potentially attractive for investors, because it opens up many opportunities. Moreover, it should be noted that the project was of interest not only to ordinary users and experienced traders, but also interesting for large investors and corporations.

How is Dash created?

Naturally, when it comes to any cryptocurrency, it is necessary to say how it can be obtained. Since Dash is created, how do you get these coins?

There are three ways to get Dash coins:

buy Dash from any exchanger;
purchase coins on the exchange;
mine Dash coins yourself.
In order to buy coins on an exchange or in an exchanger, it is best to use special sites that help to monitor cryptocurrency exchange points online. The most popular and convenient service is CoinMarketCap, because it is on this site that it is most convenient to find the best place to buy or sell Dash tokens.

Speaking of mining, it should be noted that since 2016 it has been profitable exclusively on ASIC miners. But Dash mining can also be done on the basis of CPU (processors) or GPU (video cards), but without much financial benefit.

For advanced mining, there are special ASIC miners that operate according to the X11 algorithm and provide stable mining of tokens, but do not consume too many resources, since they are not super powerful.

Is Dash endless?

It must be said that the Dash cryptocurrency has a floating emission. This means that its amount is not clearly fixed. The number of coins ranges from 16 to 22 million.

Within the first two days after the release of the Dash coin to the market, users mined about 2 million tokens (about 10 percent of the maximum possible amount). Due to the conduct of such an instamine on DarkCoin (and this is exactly what the Dash cryptocurrency was called then), quite harsh criticism came from both crypto experts and users. The development team proposed several alternative solutions to this problem: restarting or rolling back the network. This was due to the fact that instamine was a consequence of an error in the systems algorithm, but platform users refused these offers. The mined tokens were quickly sold on crypto exchanges at the lowest cost, after which the situation returned to normal.

It is also worth mentioning that for each block, computing power is adjusted, and the maximum amount of remuneration is reduced by 7.1 percent per year.

Dashs strengths

Considering the strengths of Dash, it is worth noting that in the situation with this project it is difficult to say whether some of the decisions of the developers are positive or negative. For example, when receiving rewards in the Dash system, the following distribution occurs:

45 percent of tokens are received by the miners themselves;
45 percent goes to masternodes;
10 percent goes to the further development of the project.
It should be noted that in this system it is very profitable to participate as a masternode - a server with high computing power, which is backed by a pledge of one thousand Dash coins. This solution is definitely interesting and attractive. After all, this allows you to protect the project from the so-called "51 percent attack" - a situation in which more than half of the entire Dash digital currency will be in the hands of one user. Accordingly, thanks to this decision, the development team was able to protect themselves from the monopoly.

In addition, it should be said that 10 percent of the profits in the distribution process are always spent on the further development of the project. This means that Dash will regularly receive the necessary updates and get better.

The fact that a sufficiently large number of coins belong to super nodes is the reason for the formation of a high level of demand for Dash coins, and this, in turn, leads to an increase in the market value of the cryptocurrency. However, at the same time, the threshold for those wishing to become a masternode also increases.

In addition to the above, I would also like to note the following strengths of this project:

the ability to make instant financial transfers;
high level of system protection, as well as complete privacy for users;
a completely decentralized project that is open to ideas and suggestions from users. Dash has been called true crypto democracy;
a special algorithm for mining that does not need a lot of resources;
the successful combination of protocols such as PoS and PoW, which allows you to receive rewards for both nodes and miners;
a strong team of experienced developers and a famous director who leads the project.

Dash in TOP currencies

To date, Dash cryptocurrency is ranked 26th in the CoinMarketCap site ranking. One Dash coin costs 42.36 USD. The coin reached its all-time high in January 2018, when one token cost $ 1,550. And although at present the price is far from ideal, it is stable and there have not been any sharp jumps over the past year.

The daily trading volume exceeds $ 278 million, which is a very good indicator. The market capitalization level is $ 392,588,206.

It is worth noting that the development team plans to further simplify the daily use of their cryptocurrency as much as possible. This is necessary in order to popularize its mass use, as well as attract inexperienced users who are not in any way connected with the world of digital currency.

Thanks to many interesting innovations within the framework of its project, as well as the ability to use Dash cryptocurrency along with fiat money, the project definitely deserves attention. However, it is currently difficult to predict the future course, so the owners of Dash coins now hope that the market value of tokens will rise again.