What Is Dash?
Dash is digital cash, which is based on Bitcoin software. Dash has solved different financial problems like offering high financial confidentiality, speeding transactions, developing decentralized management and more. Dash money exchange is a highly secure open-source peer-to-peer network.
Dash has a two-tier network system which improves its work. With Dash, your transactions remain anonymous. Bitcoin transactions are not anonymous and you can trace who sends or to whom the coins are sent. Dash system is opposite to Bitcoin.
Your money is not held in a central bank organization. Instead of this, you hold money in a safe and easy way, maintaining full control. This means that you have the tool of privacy, which comes to your purchases. The greatest benefit is transactions which can work instantaneously.
With Dash, you may make instant payments online. Dash doesn’t allow tracing the transactions, because of its anonymization technology. Your information is private. It is a great benefit because most people don’t want to be financially traced as well as don’t want their balances to be publicly available.
Dash team is a group of professionals with large experience in computer science and financial technology. Each member of the Dash performs an individual task, according to business and technical roles.
Dash transactions are confirmed by the Masternode network. It is a great financial improvement in comparison to Bitcoin system.
All Dash transactions are instantaneous. It means that Dash cryptocurrency can be sent or received instantly, without any risk.
On January 18, 2014, Dash was designed as XCoin. On February 28, its name was changed to “Darkcoin.” On March 25, 2015, Darkcoin name was changed to “Dash”.
The developer of Dash cryptocurrency is Evan Duffield. He created an algorithm which is known as “X11”. The Dash project was created on the base of this algorithm.
Dash duplicated Bitcoin’s existent code. It corrected some issues which Bitcoin users faced with.
Dash corrected these issues and made its own system better:
You are able to exchange your cash anywhere, to any person who has a Dash wallet. Unauthorized persons cannot follow or interfere with Dash exchanges.
Why Is Dash One of the Strongest Cryptocurrencies on the Market?
Anonymity
Dash is an anonymous virtual cryptocurrency. Unlike Bitcoin system, which has an open blockchain which allows everyone to trace your transactions or the transactions of the other users, Dash has a private, secure system of transactions. And if you want to protect your private data you need to use “mixer” (anonymous service that confuses the paths of Bitcoin transactions). How does Dash work? Masternode Dash coordinates a mixing of coins so that you may be sure that you are able to process anonymous transactions. In order to run a Dashcoin Masternode, you need 1000 Dash coins.
Speed
Dash provides instant transactions. These instant transactions are sent through the InstantSend (when the transactions are confirmed by Masternodes). Such transactions take only 4 minutes. The speed of Dash transactions is the largest in the world.
Dash Can Be Used In A Real World
Currently, people have much more possibilities to pay their daily “stuff”. As for example, they are able to pay for their dinner in a restaurant with the help of Dash currency. They can buy presents, contribute charities and projects, and send money to family or friends and more.
InstantSend Technology
InstantSend technology allows Dash cryptocurrency to send or receive money instantaneously, without relying on a centralized authority like a bank or other centralized authorities. Bitcoin doesn’t provide an InstantSend feature.
If you decide to use Bitcoin in a café or a shop to buy something, you’d be waiting between 15 and 60 minutes. Of course, Bitcoin can improve it, but the main thing is what is now.
Dash transactions have a high speed, which takes only 4 seconds. With Dash, you are able to send cash to wherever on the planet with a high speed, which takes a couple of moments.
Dash Evolution
Dash Users Can:
Decentralized Governance Blockchain Budget (DGBB)
One of the greatest Dash advantages is Decentralized Governance Blockchain Budget. DGBB solves 2 Dash cryptocurrency problems. They are governance and funding.
Governance in Dash
As you know, Dash is s decentralized peer-to-peer network. Governance in a decentralized Dash project is very difficult. There are no central authorities to solve different financial problems. That is why Dash projects are made by the network (by masternodes’ owners).
Funding
Dash’s blockchain provides a lot of money for their system development. Dash uses 10% of the block reward in order to invest in funding its development. These 10 percents are allocated to the Network Development and Promotion Budget. Dash developers and promoters receive payments for their work and contributions.
What Are Dash Benefits?
Privacy
With the secure Dash system only you have access to your transactions and balances. Nobody, but you can trace it. It keeps your payments private so that nobody can interfere with your private business.
Secure
High encryption level and secure protocol provide the users with full security in their financial operations.
Instantaneous Function
Dash engineers made a new, decentralized innovative technology called instant. Those users who choose instant function will irreversible send their money within 4 seconds. It is hard to believe, but it’s true. You may send cash wherever on the world, but your transaction’s speed will be instant.
Payments
Dash has worldwide exchange payments. It means that you can exchange cash anywhere you want and send it to anyone who has a Dash wallet. Dash exchanges are anonymous and secure. It cannot be traced by outsiders.
Scale Level
You can send you money being in any part of the world. It doesn’t influence the fee price or the transaction speed. Fees are completely low or even non-existent.
Low Fees
Mostly all transactions require only a few cents.
Power
No bank has a power on your money. Instead, the power is in your hands.
Usage
Anyone can use Dash, in any part of the world.
Peer-to-Peer
Dash is a fully decentralized peer-to-peer (P2P) network. It means that you should not trust any centralized authority. Your transaction is secure and you may be sure that your transaction stays between you and the other transaction party.
How Does Dash Work?
Dash is a digital cash which makes instant and private payments in-store or online. A lot of users have already joined to Dash. The price of Dash is influenced by cryptocurrencies and changes within the community.
Anyone can run a program that will solve the crypto-currency network tasks on the computer. The process of solving these problems (tasks) is called “mining” and the computer which solves these problems is called “miner”. The main miner’s goals are money transfer (transactions) and the issue of new coins.
Miners receive information about transactions in the network. After, they check it and merge it into a block. It is performed in a set order, which is called “hash”.
Once the correct hash is defined, the transaction block is confirmed, the money goes to the addresses, and the system creates a reward. This reward is a computer’s salary for the work. It should be mentioned, that the block reward is divided into three parts: 45% goes to Dash’s miners, 45% goes to Dash’s Masternodes and the rest part (10%) is allocated to pay other jobs or costs that the Dash network considers necessary.
How to Invest In Dash?
Dash is one of the most successful cryptocurrencies to invest in. It has the best chance of becoming the most mainstream cryptocurrencies. It has 3 main features which may ensure you that it is one of the best cryptocurrencies. Dash is private, instant and secure.
How to Invest In Dash Safely?
Each investment requires a good financial plan. Dash investment provides its clients with access to comprehensive financial planning services. At Dash investments, all clients are granted access to comprehensive financial planning services.
Dash network constantly develops and grows. That is why you need to increase the power with time in order to get bigger financial reward and efficiency. There are 2 ways how you can do it:
The pool is a community where the miners connect and share the power of several computers into the single Internet stream. A mining pool is a pooling of miners’ resources. Miners share their processing power over the network in order to distribute equally the reward which depends on the amount of work they have made. Everyone can start investing in Dash, even if does not have a strong equipment.
The Main Differences between Dash and Bitcoin Are:
Dash uses a combination of several cryptographic algorithms
Dash mining requires less energy
Dash has InstantSend transaction feature, which is super fast (4 minutes only)
Dash has lower fees
Bitcoin transactions are pseudonymous and can be traced to other users. Dash has a PrivateSend feature, which makes it impossible to trace the transactions. That is why Dash transactions are anonymous
Unlike Bitcoin, Dash introduces Masternodes which are computers that run a dash wallet and make different financial decisions, such as mixing of coins, locking transactions with InstantSend, voting on budget funding. Masternodes are able to provide InstantSend, PrivateSend, Decentralised Governance services. Moreover, each Masternode is able to vote on different budget proposals or financial decisions that can affect Dash
Bitcoin system is supported by miners. In comparison with Bitcoin, Dash has a two-tier network, which is supported by miners and Masternode operators. Miners are responsible for security in the blockchain. Masternodes provide the additional Dash functions
If you want to become a member of the network, you need to download the Dash application, and run a “full node”. You may be interested what the importance of nodes and masternodes is. Masternodes represent a secure network, instant transactions, and anonymity. These features are not available for Bitcoin transactions.
Where to Buy Dash?
Dash purchasing can be a complicated task for everyone who is new to this process. The most widely used way to buy Dash is trading Bitcoins for Dash. There are a lot of different cryptocurrency exchange websites which may simplify this process and help you do it quickly (Bitpanda, Dashous, Kraken, Wall of Coin, Bitfinex, and more). Dash can be purchased in several ways. There are some options for this:
Exchanges
One of the ways to buy Dash is an exchange. It is one of the most popular ways in trading cryptocurrency. There are a lot of exchanges and each of them has its own, individual characteristics as well as different features. The most exchanges are centralized. It means that they are run by a single company, which may be obliged by the laws of the jurisdiction. But there are decentralized exchanges, which have higher escrow requirements.
Instant Exchanges
Instant exchanges are similar to the normal exchange. Instant exchanges do not require logging on to the system. They can convert one currency into another with some restrictions on the amount to be exchanged.
Peer-to-Peer
Currently, there are a lot of sites that release the trading way of Dash between individuals. Users usually make offers or at the price, they are willing to pay and wait until someone will contact them and give details of the sale.
Best Dash Wallets
The best wallet should provide the maximum security. That is why you need:
Desktop wallet
Mobile wallet
Hardware wallet
DESKTOP wallet
Dash desktop wallets are available with different features and security. There are a lot of desktop wallets. But the DASH Core desktop wallet is the best of them.
DASH Core is the official graphical user interface desktop wallet. It was developed by DASH developers. It provides you with a full access to the Dash cryptocurrency features and possibilities. DASH Core offers you a wide access to your funds. Its secure system is protected by private keys. Dash does not demand ID or verification. It can take a lot of time to synchronize with the entire blockchain. DASH Core wallet is connected with several unique addresses which you can use in order to send and receive Dash. Each address has its own balance, and the sum of all the balances is what you can see in the Overview tab. With the help of Coin Control option, you can choose the address which you want to use. DASH Core is available on Windows, Mac, and Linux.
DASH Core is able to perform InstantSend and PrivateSend DASH transactions.
MOBILE wallet
Dash Mobile Wallets are available on different mobile devices and tablets. The best mobile wallets are DASH Wallet, COINOMI Wallet, and DASH Core iOS Wallet.
DASH Wallet is the most secure open-source Android mobile app, which is available for mobile devices and tablets. It offers you to do offline transactions using Bluetooth function. It allows you to control your private keys. It is only available for Android.
DASH Wallet allows you to use the InstantSend feature, but it is not able to use the PrivateSend feature on Dash.
Those mobile users who want an easy interface and medium wallet anonymity may be interested in this Coinomi Wallet. It is a strong mobile wallet which is available on Android. It supports different cryptocurrencies and Dash is one of them. The private keys are stored on your mobile device. When you want to transact your coins to the blockchain, Coinomi wallet hides your ID address.
DASH Core iOS Wallet is the official wallet for iPhone. It has a Shape Shift function which allows exchanging Dash into Bitcoin in a matter of seconds. Dash Core IOS wallet connects to the Dash network. It is very important and valuable benefit for every iPhone user. It ensures that your wallet will be not hacked. Moreover, you will be able to restore your funds even if your wallet will be lost or accidentally damaged.
DASH Core iOS allows you to use the InstantSend feature, but it doesn’t support the PrivateSend feature on Dash.
HARDWARE wallet
Hardware wallets work with the wallet software on your PC. They control the creation of a secret key, store secret keys and sign transactions. The best hardware wallet is Ledger Nano S.
The Ledger Nano S is not an expensive hardware wallet. Its price is quite reasonable. Ledger Nano S is based on the safety features for storing cryptographic assets and securing digital payments. Your Dash tokens are stored offline. It is the best hardware wallet for a large amount of DASH.
Contents
- 1 What Is Dash?
- 2 Why Is Dash One of the Strongest Cryptocurrencies on the Market?
- 3 InstantSend Technology
- 4 Dash Evolution
- 5 Dash Users Can:
- 6 Decentralized Governance Blockchain Budget (DGBB)
- 7 What Are Dash Benefits?
- 8 How Does Dash Work?
- 9 How to Invest In Dash?
- 10 How to Invest In Dash Safely?
- 11 The Main Differences between Dash and Bitcoin Are:
- 12 Where to Buy Dash?
- 13 Best Dash Wallets
