Dash is a cryptocurrency network built as a decentralized autonomous organization. Originally launched in 2014 as XCoin by Evan Duffield, it became known as Dash in 2015. It uses Bitcoin-like code at its core but adds other features. The most important of them is PrivateSend, which enables anonymous transactions. Like Bitcoin, Dash is designed to have limited supply (deflationary model).
Unlike most cryptocurrencies, the trading symbol for Dash uses four letters: DASH.
What is Dash
Dash is considered the next generation digital currency. Traded and transferred by an open source platform, from peer to peer, it reduces the need for people being totally dependent on banks to transfer funds. Transfers are controlled and authenticated by a distributed network. It has the same features as Bitcoin with a few additional features such as instant transactions, enhanced private transactions, and a decentralized governance system.
Dash is currently the 7th biggest digital currency on the market, and has been accepted on the App store. This proves that the demand and ranking of the currency is growing. A major factor impacting the price rise is the supply and demand of the coins available for use.
With Bitcoin priced at a very expensive rate, people are looking at Dash as an alternative option with potential growth rate.
Why do People Choose Dash?
1. Dash keeps a person’s transactions and balances very private with its enhanced security measures.
2. Dash has an innovative technology which gives users the ability to send money instantly and irreversible within four seconds
3. Its global, anyone can send money anywhere for the same fees and with the same speed, there are no variation
4. Its inexpensive to use, most transactions cost only a few cents which is much cheaper than other services
Dash is the first digital currency to have a 2-level network. The first level is made of miners who write transactions to the blockchain, and the second level are masternodes. These are servers that allow the privacy features and instant transactions. In the future, they will most likely be able to offer features unique to Dash which can keep them in a unique category of their own by providing things other digital currencies cannot.
Effects of the Dash Price
The Dash coin price has been rising in early 2017 lately and part of the reason is the plan to upgrade the user experience. More investments with the programme could potentially drive the price higher. Dash is not accepted by many retailers yet, but a good number of independent businesses do accept it.
- The middle man in the Dash network is the masternodes. A masternode is a miner that purchased 1000+ or more Dash.
- The Dash blockchain is public like all other blockchains in digital currencies. A person can send small denominations to various masternodes and they will respond and send you different coins. This way the trace is lost.
- The main feature which is attracting people to Dash is known as the “Darksend System”: This makes transactions untraceable. No account is required, no registration and no identity checking. For anonymity purposes, this is better than Bitcoin and makes Dash the most privacy-conscious cryptocurrency available.
Moving forward, Dash developers hope to announce new features and increasing circulation. Dash’s unique capabilities seem to pushing it towards a leading position in the market, which could make for a profound trading option.