What is Dash coin?
Unlike prominent virtual currency projects such as Stratis or even Ethereum, Dash is a person to person decentralized electronic cash.
It intends to be just as liquid as any other real fiats that are being used in diverse countries. These real cash include;
- CNY, etc.
Dash Cryptocurrency has been created on the core code of Bitcoin and has some added features like speedy transactions and user’s privacy. Similar to Bitcoin, Dash is open-source that makes use of its own Blockchain, ecosystem, and wallet infrastructure.
However, it differs from Bitcoin in the sense that the transaction fee of Dash is actually negligible. Nonetheless, it might actually look like dash coin will stick to being virtual money for the web-based on the attitude of the development ecosystem.
Dash coin was built on the 18th of January 2014. It was created by Evan Duffield. Originally, Dash was launched as XCoin (XCO). Furthermore, the name was changed in 2014 to Darkcoin. On the 25thof March 2015, it was finally changed to Dash.
Evan Duffield was highly impressed by the technology used in creating Bitcoin and later noticed that Bitcoin was not so fast and neither was it really private.
Since he could do nothing to make Bitcoin much more anonymous, he simply made use of bitcoin’s core code to create his own virtual currency.
Benefits of Dash
The digital currency comes with exciting benefits such as;
- The currency enables users to transfer funds privately via combining it between diverse transactions. This makes it difficult to identify any particular transaction. It makes use of a coin mixing service that is based on CoinJoin. Nonetheless, this privacy feature is optional.
- Dash enables users to transfer dash transactions automatically within a time frame of 1.5seconds. However, master nodes charge a much higher fee for the execution of such transactions. Meanwhile, Dash’s instant send feature aids in resolving double-spending issues.
- Dash has a unique privilege node known as Masternodes. Any single person can create Masternodes by simply holding 1000 dash as their collateral. The unique nodes execute. Privatesend and Instantsend operations and a 45% block reward are earned.
Purchasing & Storing Dash
Dash digital currency can be gotten from several exchanges and some of which include.
- Dash mobile wallet
- iOS wallet
- Android wallet, etc.
To Wrap it Up
Dash has been structured to have an overall total supply of roughly eighteen million coins. Presently, its circulating supply is 7.4million dash. In the year 2030, it has been predicted to reach eighteen million.
Basically, dash comprises of a variable block reward that drops at a rate of 7.1% yearly. On the dash Blockchain, the average dash mining time for blocks is about 2.5 minutes. This means that it is over four times quicker than Bitcoin.
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