Dash is a digital currency characterized by low fees, high transaction speed and good anonymity possibilities.
These characteristics allow it to be classified as a cryptocurrency with the potential to compete with Bitcoin.
It is open and decentralizedThis means in the first of the terms, that anyone can be participating by sending or receiving payments without having a bank account or having a credit card to do so.
It is decentralized because you cannot have an influence on it to the point of controlling it. The network is made up of countless nodes with a worldwide distribution that guarantees it.
Something interesting about the currency and its network is the type of government model it has, allowing it to be self-financing, also having an implicit voting system within its protocol.
For this reason, there is the possibility that Dash may proceed to carry out modifications under consensus by the network, thus avoiding governance problems that are present in other types of cryptocurrencies, where since there is no voting mechanism, stagnation is in force. , threatening the progress of the network.
This is an important feature of Dash, which will allow proceeding with the financing of development projects without precisely having external influence, and at the same time you can develop modifications that will adapt technologically over time.
Dash as a cryptocurrency, is a coherent investment option in the medium and long term for those interested in the world of cryptocurrencies, although it will have to be assuming high price volatility.
By owning or having an innovation orientation, it is projected as a friendly coin that can distinguish itself from its peers in the world of digital currencies, and be included in the top 10.
Dash events
The cryptocurrency first came out as XCoin (XCO) in early 2014, the month of January. In February of that same year its name was changed to "Daskcoin", and in March 2015 it was assumed as Dash, which is its current name.
Right at the beginning of the launch of this virtual currency, in just days, 1.9 million units were mined.
Known as "instamine", this unusual rate of mining that occurred was considered a system failure. It was attributed to errors in the code that were making the mining difficulty wrongly, allowing it to be easier or simpler.
It is noteworthy that at the time the coin was launched, the ICO market was characterized by countless scams, and Dash knew how to implant and survive; gaining a trust and prestige that still exists today.
Currency aspects
It has a named system "Master nodes", which is a network of servers in which users have at least 1000 Dash. For this peculiarity, transactions will be confirmed very quickly if compared to the time they take with bitcoin. It also allows private exchanges and budgets, in addition, the network will also be secured against alleged attacks.
Dash has a Next-Gen network architecture, notable implementation through a Peer-to-Peer network design, which will be rewarding those users who run and manage to maintain 24/7 master nodes.
As we already mentioned, in the Dash network the ability to implement changes is significantly streamlined. Not so for example in the bitcoin network, where making modifications is more complicated when used by millions of people, where consensus would have to be reached in a complicated way.
In Dash, the master nodes will be the ones who will proceed to approve the changes to be executed.
It is a fast growing network, considered one of the few with objective possibilities to compete with Bitcoin in capacity and processing power., also in prospecting for future expansion.
Product that the cryptocurrency sector and the world related to blockchain technology grows vigorously, requiring rigor and continuous excellence, it is necessary to develop an adequate escalation.
So that cryptocurrencies may be reaching levels of massive use, Blockchains are required to scale to levels equal to or higher than what the industry giants do.
En este sentido, Dash has a long-term scalability plan, trying to reach the levels that VISA has in daily transactions, making use of larger blocks, with the capacity of the masternodes, hardware, more code that support such projections.
Dash vs Bitcoin usage comparison
Bitcoin is the main and most popular cryptocurrency in the world. Today, due to its increased use, it presents problems or drawbacks that make it slower and more expensive to use than other digital currencies, mainly in small transactions.
It is possible to argue that Dash has a tendency to solve Bitcoin's problems. Your transactions are cheaper than those made on your network and much faster.
In this sense, let us note that a transaction on the Dash network will take only seconds to have several confirmations, and around 2.5 minutes for it to be added to the blockchain. In Bitcoin, it can take hours to achieve some confirmations.
Considering these data, One might wonder why Dash is not more widely used than Bitcoin.
In the world of digital currencies, network effects are vital for a cryptocurrency to succeed. It is mandatory that it be accepted by a large number of people around the world, as well as by businesses.
Bitcoin, which was the first of the cryptocurrencies, and having a greater number of years in the sector, is much more recognized and accepted.
In the case of "Dash", and despite all the features it has, It still has a long way to go to reach the levels of acceptance and trust that Bitcoin possesses.
In any case, it is necessary to recognize that Dash has been appreciating in relation to Bitcoin, with considerable price increases, being of great interest to investors.
Buy and sell
It is possible to buy directly from Dash in exchange centers, as well as proceed to exchange it into money. Some safe and recommended centers would be:
- Eu: With a marked presence in Europe and the possibility of exchanging euros, dogecoins, bitcoins, litecoins etc.
- anycoin: Dash can be purchased with euros, accepting payment methods such as bank transfers, Giropay and others.
- Bittylicious: You can accept payments by bank transfer, debit and credit cards. It is a very versatile hub for purchasing Dash.
Here we also expose Exchanges that will accept Dash:
- Kraken: Trade in euros and dollars
- Changelly: Very fast
- Bittrex: Specialized in cryptocurrencies
- HitBTC: Widely used and popular
- Bitfinex: With mobile application included
- CEX.io: Allows use of credit and debit cards
- Livecoin: With the possibility of bank transfers
Master node
Masternodes are an alternative to get Dash. It is possible to have one of them and participate in the network. 1000 Dash units must be owned to achieve this as a requirement. After owning a master node, you will be able to receive a portion of the coins mined by miners. Payments will be executing once a month to the nodes.
Accessory bags
As in any other cryptocurrency, you will need a purse or wallet to proceed to save it. Dash's own network has a digital wallet. Here is a list of some wallets that could be used.
For Smartphone
- Jaxx
- Coinomi
- Dash Wallet
These mentioned with utility in Android system, and for IOS system a valid option would be "Jaxx"
For Desktop
The Desktop utility exists with "Dash Core", which supports Windows and Linux operating system, another alternative is "Jaxx", with versatility in both mentioned systems and "Exodus" for Linux, Windows and Mac.
In the case of Hardware wallets, there is representation with the following brands:
- KeeKey
- Ledger Nano S
- Trezor
Another possibility is to make use of a paper wallet with high security, which will contain a private and public key of Dash, and will be much cheaper than some existing offline saving alternatives.
Investment
It is possible to keep this currency as an investment. If you want to earn Dash, one way to achieve it is through this route.
There are online trading platforms that allow you to operate with this type of cryptocurrency.
It will be possible to sell, buy, carry out operations with CFDs contracts or binary operations.
We emphasize that trading using contracts for difference (CFDs) is an option assumed by many.
These are financial instruments that manage to leverage an investment made through a margin of guarantee.
Although It is necessary to point out that CFDs are high risk, they could allow you to win sums quickly, but still lose it.
The Dash team has been very well aware that for a digital currency to become globally what has always been expected and dreamed of for cryptocurrencies, it will have to be used by a huge number of people in the world with transactions at the same time. unison.
Scaling to the Visa level can be a well-defined success goal for a cryptocurrency, and Dash is targeting that limit.
Will you finally have the predicted success in solving the scalability problem? Will Bitcoin or Ethereum have it?
If it is achieved, it is most likely with one of the "Top 10 Cryptocurrencies" today, then ... Dash counts.