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Dash Cryptocurrency
Dash Cryptocurrency

Dash Cryptocurrency : Everything You Need to Know for 2018

What is Dash, Darkcoin & Xcoin?

One of the commonest cryptocurrencies available today is known as the Dash cryptocurrency. Formerly known as Darkcoin and XCoin, Dash is a digital cash or virtual currency that you can use in a trade or use to transact over the internet. Since it started in 2014, it has successfully grown and expanded to the point of even being the sixth largest cryptocurrency in the world by market capitalization. In broader terms it is an open source peer-to-peer cryptocurrency where purchases can be made online or held as investments, running on a publicly disclosed blockchain that records every transaction. One of its core goals is to be as liquid and as available as real cash used in the myriad of countries across the entire world. Interestingly, Dash has same Bitcoin functions with the added advantage of privacy and speed of transactions which were originally flaws of Bitcoin. Another added benefit is the fact that all users have a voice and the ability to propose projects directly to the network. It helps in ensuring that Dash stays innovative and fresh. Dash’s network has grown to 4,100 master nodes since launch, and it is certainly impeccable. What this means is that Dash’s peer-to-peer network is one of the largest in the entire world. Also, Dash is self-funding – a whopping 45 percent of newly created Dash goes to the miners, and 45 percent to master nodes. The final 10 percent goes to a treasury for funding the teams and so much more.

History of Dash

The history of the Dash Cryptocurrency is as relevant as its current position today. As said, it was created on the 18 January 2014 by the developer, Evan Duffield. The developer created it because he realized that Bitcoin wasn’t fast enough. Originally released as XCoin (XCO), its name was changed to Darkcoin, and on March 25, 2015, it was rebranded as Dash. In case you were wondering, Dash stands for “Digital Cash.” In just the first two days of its launch, 1.9 million coins were mined. However, in June 2017 the daily trade volume of Dash was approximately $100 million per day while the market capitalization of Dash exceeded $4.8 billion. Since then, Dash’s major team who are responsible for creating and managing the currency have since grown to 30 full-time employees, 20 part-time employees, and many volunteers. If there’s one thing we know for sure, the Dash Cryptocurrency is growing at an impeccable rate.

Advantages of Dash Cryptocurrency

Not sure how the Dash Cryptocurrency ranks, its advantages, or how it sets apart from other cryptocurrencies, here are it’s many advantages.

  • It is very Private

One great part of cryptocurrency is that it is very private. Nobody gets to track you, and your transactions and your balances are safe. In essence, your financial information is safe. It does this by using an advanced encryption protocol for complete security, thus ensuring anonymity. Digital forms of money can utilize open records where people can check exchanges while they happen. When your character is related to your address, essential data can be utilized to track your pay, spending, and many more. The challenge? When you send cash to anybody, the individual or ‘thing’ can connect you with your whole exchange history. Dash cryptocurrency believes that protection is your right. Clients keep every one of their exchanges private.

  • Speed of Delivery

Dash uses its Master node network to power an innovative technology called instantX. Bitcoin takes an average of 10 minutes to confirm an exchange with numerous traders that require many affirmations before completing the transaction. Also, Dash engineers created a decentralized system known as InstantX that affirms installments in around four seconds which is less than Bitcoin’s 6 seconds.

  • It is cheaper

Another thing the Dash cryptocurrency is known for is its affordability. Dash expenses are known to be much lower than banks or even visas.  You don’t get charged a lot to use your cash, and that is a core advantage. Also because the expenses are low and sometimes even non-existent, the exchange of smaller scale installments is permitted for administrations.

  • It has a Two-Tier Network

Dash is the brainbox behind ‘master nodes.’ They represent servers that are used to empower protection highlights and moment exchanges. It has a two-level system that guarantees that Dash remains a great framework, giving an abnormal state of administration to its clients. They are also used to get new administrations with the system that other digital forms of money cannot get.

  • It is a new business opportunity

Dash is also an innovation by itself. It is a pioneer in digital currency development, being the first to work in momentary exchanges, security highlights, and many more. The improvement of overall advanced monetary standards opens up numerous doors, laying foundations identified with Dash. It is essentially an innovation, having computerized money, and it is one of a kind.

How to obtain Dash

If you have decided that you want to be a part of the Dash Cryptocurrency, you have to obtain it. Obtaining it is as simple as obtaining bitcoin, and it typically follows the same routine. Dash has also developed a decentralized system to govern and fund the future development of the project so various individuals can come up with projects to help develop Dash and then submit them to the network. The routine is simple. You have to first get a Dash Wallet, then get Some Dash, use the Dash, and make sure you stay up to date.

Exchanges which support Dash Cryptocurrency

There are a few locations in the United States where you can buy Dash from an ATM. While it is the easiest way to obtain Dash, the fees are impeccably huge. Storing it, you just have to keep the cryptocurrency in a digital wallet, which you can either download from the company’s website or store in a hardware wallet. Finally, you can make an account on an exchange like BitPanda or Kraken and buy Dash with your local currency. It is effective, and good reviews would help you make the best decisions.

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About Tayyab M

I love to talk about global tech-happenings, startups, industry, education and economy.

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