Dash Cryptocurrency
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Category:
Financial Trading
Cryptocurrencies:
90+
Investors:
Million+
Stocks:
0% commission
Features:
Masternodes, Instant send, PrivateSend, Highly secure, Decentralised

DASH CRYPTOCURRENCY BONUS OFFERS

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Description

Dash Cryptocurrency

What is it?

Originally created in early 2104 as XCoin, open-source Dash cryptocurrency is a type of Decentralized Autonomous Organisation (DAO) run by a subset of users or ‘Masternodes’. Its emphasis is on fast, untraceable transactions and it bills itself as ‘the true digital cash’. Dash has become one of the world’s strongest cryptocurrencies, as well as one of its most rapidly rising.

Rebranded with its current name in March 2015, Dash is the brainchild of developer Evan Duffield. Bitcoin’s technology had impressed Duffield back in 2010, but he wanted something faster and more private. So he expanded on Bitcoin’s core code to create his own cryptocurrency.

Dash’s swift governance structure is also aimed at overcoming Bitcoin’s shortfalls.

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Dash Cryptocurrency: key facts

  • Average block mining time is 2.5 minutes on the Dash blockchain, four times speedier than the equivalent for Bitcoin.
  • While its design will eventually allow for 18 million coins in all, Dash’s current circulating supply remains under eight million.
  • As of 2018, a proof-of-work algorithm is used to mine coins, with a hash function named ‘X11’ which has 11 hashing rounds. On average, it takes some two and a half minutes to mine a coin.

What features make Dash Cryptocurrency unique

Masternodes

In Bitcoin, each node is equal, but Dash offers special privilege nodes or Masternodes. These are the second tier of the network. You can form them simply by holding 1,000 Dash in collateral (equal to one Masternode). Use Masternodes to complete InstantSend and PrivateSend transactions (see below) while earning a 45% block reward

Instant send

This allows you to send Dash transactions within 1.5 seconds. It does cost more to process transactions this quickly. But this feature irons out the potential double-spending flaw, in which the same digital token can be spent more than once.

PrivateSend

This optional function enables you to send funds privately by combining them with other transactions to make it difficult to identify any one transaction. Dash can do this thanks to a coin-mixing function based on CoinJoin. There’s a limit of 1,000 Dash per transaction for this feature.

Does Dash have any downsides?

Decentralisation

Dash’s decentralisation has been criticised following an error that allowed too many coins to be distributed on release. This concentrated wealth while giving a small group disproportionate power when it came to deciding on the future of the currency.
(However, the approach below outlines the current, more democratic governance structure.)

What are the benefits of Dash?

Voting mechanism

Investors can vote on the changes they want to implement in the network. This means Dash has a clear route for how it will offer cheap, immediate transactions at a level of 4,000 or more per second.

A $2.5m monthly development budget

Dash splits 90% of its block reward (the new coins created each month) evenly between Masternode stakeholders and miners. The other 10% goes on the projects Masternodes vote to approve. This means the ecosystem runs and funds itself.

Watertight security

A ‘bug bounty’ of up to $15,000 is available to anyone who can reveal a critical security vulnerability. None has yet been found.

Decentralisation

Dash is more decentralised than most major cryptocurrencies. As mentioned above, voters have the right to express their views on the future direction of funding and development. The network funds three key, independently run groups, Dash Core, Dash Labs and Dash Force. These work together for the greater benefit of the network.

The verdict

Few people think Dash is going anywhere anytime soon. Flexible and instantly usable, it has a solid infrastructure. This sets it apart from its competitors and makes it an investment-worthy, promising currency.

As one reviewer put it: “Dash is tailor-making a digital currency experience for the everyman. For years Dash has been cryptocurrency’s best-kept secret. Now, more people are starting to see that they’ve been ignoring the field’s premier dark horse.”

Learn more about financial trading and cryptocurrencies at Roger.com.

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