Dash cryptocurrency is a unique and highly secure token running within the Dash ecosystem, which is an improved version of the Bitcoin platform but offers notable changes in transaction speed, anonymity, and governance through its two-tier network structure. The two-tier incentivized network is a security feature consisting of nodes using the XII Proof-of-Work algorithm to carry out mining operations and master nodes operating under a Proof-of-Service consensus algorithm. The master nodes facilitate InstantSend, PrivateSend, and ChainLocks functions. The ChainLocks feature serves to provide additional security. Masternodes and miners are paid a percentage of the block reward as incentives. Dash Cryptocurrency can also be staked for rewards.
A Bit About Dash
Dash coin was forked from Bitcoin in January 2014 by software developers, Evan Duffield and Kyle Hagan. It was initially launched as XCoin but rebranded to Dash in 2015. Dash cryptocurrency operates under a decentralized system allowing direct payments between individuals and businesses. It assures its users of 51% protection against attacks using its two-tier network. This is reinforced by an additional ChainLocks feature. The token can be traded on both spot and derivatives markets. Being fungible allows the Dash cryptocurrency to be traded in fiat money and cryptocurrency exchanges. It can also be traded through Instant exchanges, Over-the-counter exchanges, and ATMs that accept card and cash payments in return for cryptocurrency. Transactions using the token are instant and at a low cost. Payments between users are mostly through InstantSend. Dash coins can be staked for rewards, mined, or used for hosting master nodes while earning rewards. Masternodes are also allowed voting rights on finance issues and decisions affecting the ecosystem based on the Decentralized Project Governance.
Invest in one of the original payment and transactional tokens, the name says it all: digital cash, or Dash!CryptoLists.com
It is a unique and reliable cryptocurrency boasting fast and secure transactions. It operates under a two-layer infrastructure that enables swift, safe, and private transactions. Dash coin is fungible and can be stored in either mobile wallets such as the Dash Core wallet, hardware wallets, web wallets, paper wallets, text wallets, or desktop wallets. The Dash Core wallet is the official Dash wallet that allows both InstantSend and CoinJoin. InstantSend is the default form of its transactions. Payments through InstantSend take only one second and at $0.01 or lower. It has master nodes that use distributed consensus and locking algorithm "TX locking" to safeguard unconfirmed transactions. Masternodes are hosted by individual users with a collateral of 1000 DASH. The hosts are rewarded 45% of the block reward as an incentive. Miners on the network earn a 45% share of the block reward. To prevent inflation, the emission rate of the token decreases by approximately 7% every 383 days, together with the block reward. Additional privacy for users is the optional privacy feature that uses CoinJoin to ensure users have full control of their money. The ecosystem aims to elevate the utility of the token in everyday purchases and have it as the top digital cash globally.
Utility of Dash?
The token can be purchased and sold in many ways depending on individual preferences. It can be traded through normal exchanges for either fiat money or crypto-only, instant exchanges, Over-the-Counter exchanges, and ATMs. The coin is created to be seamless, fungible, and private. Dash blocks are secured by miners who earn the tokens. These miners use the Proof-of-Work consensus mechanism. Rewards are given to master nodes who facilitate instant transactions, financial privacy, and decentralized governance and budget structure.
Miners and master nodes split 90% of the block reward. The remaining 10% is for the budget system while users require 1000 DASH to acquire each master node. Apart from its scalability that allows the staking of the coin, it can trade on the Spot market and derivatives markets. Dash payments are convenient through the DashDirect consumer app available for Android and IOS users. This app has allowed payments in over 155,000 retail locations. InstantSend facilitates instant and irreversible transactions while PrivateSend enhances the privacy and fungibility of the token. Users can store the tokens in Mobile wallets, Hardware wallets, paper wallets, Desktop wallets, and text wallets.
Dash Price details
›› DASH tokenomics and social media
Advantages of Dash+ Users incur low transaction fees with Dash.
+ Transactions are instant for reliable payments.
+ Extremely secure due to the implementation of master nodes and Chain locks.
+ The token can be staked for users to earn rewards.
+ Dash facilitates privacy through its optional feature.
Disadvantages- Exposure to fiat currency lowers the decentralization of the token.
- Masternodes have an unequal advantage over other users in influencing decisions.
- Risk of impersonation by scammers, particularly on mobile platforms.
- Vulnerability to scams from third parties such as dash wallet dot com.
- Vulnerability to Ponzi schemes such as Dascoin and HashOcean Ponzi schemes.
Costs▪ Rated at 9.5/10
Dash coin transactions are recorded on blocks on the blockchain. Transactions via the token cost a maximum of $0.01. There are various costs associated with the token while depositing with various payment methods. Users also incur fees on different exchanges for trading.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 8.8/10
Dash coin created excitement among the crypto community due to its unique security features. The XII algorithm developed by Evan Duffield rates as one of the best for Proof-of-Work. The current hype surrounding Web3 has users and enthusiasts engaging more, shown by a stable and rising transaction volume. The 2023 Sweply strategy is currently trending as one that represents versatility. It is growing to be accepted by several merchants globally for fast, private, and secure transactions.
What happened to Xcoin?
On March 25, 2015, it went through a rebranding to Dash, which comes from its stated aim of being 'digital cash'. It's a portmanteau of the two words.
What was Darkcoin?
In between Xcoin and Dash was the short-lived name of Darkcoin, ostensibly to demonstrate it's anonymous nature.
What are master nodes?
Masternodes are part of a two-tier security model in the Dash network that uses a distributed consensus and locking algorithm to secure unverified transactions. To be able to host a master node, users need 1000 DASH. Masternodes are rewarded alongside miners and also participate in governance.
Can the token be staked?
It can be staked to verify transactions or to support the ecosystem while earning rewards.
History of Dash
January 2014 - The coin is launched as 'Xcoin', forking away from Bitcoin.
March 2015 - It rebrands under the name 'Dash' which is a portmanteau of 'digital cash'.
August 2022 - On the 18th, Dash unveils new ways to buy the token in the Android Dash Wallet.
October 2022 - Dash had a valued market capitalisation of 450 million USD.
Screenshots from Dash
More sites where to buy/sell/trade DashBelow you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
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