What is so Special about the DASH Cryptocurrency?
Dash is a Unique, yet Young Cryptocurrency
Eventually, I believe Dash will position itself as a direct competitor to Bitcoin. In the meantime, Bitcoin enjoys a monopoly more or less on the space, which is unhealthy.
– Evan Duffield, a Core Developer Dash
Many bloggers are recently mentioning Dash. It sounds new, but it isn’t. Dash, or digital cash, has been around since 2014. Previously named Darkcoin and before that, XCoin, it’s primary focus is anonymity and security. Although Bitcoin has a tremendous community, Dash’s development and marketing has been ratcheted up recently.
Dash is one of the top 5 cryptocurrencys by market share at $45 million, as listed by Coingecko. Although exponentially smaller in market share and volume than Bitcoin, it has been gaining steam. It’s initial launch caused some contraversy over errors in the code that allowed Dash to be mined instantly, many bumps have been evened out. Dash is moving forward steadily with development and community support. We will tell you what dash is and why it’s worth your time.
Similarities of Dash to other Cryptocurrency or Digital Currencies
Dash is similar to other cryptocurrencys in many aspects. It has some of the same working parts, a hashing algorithm (X11), addresses and confirmations.
Differences of Dash
Masternodes are a secondary, yet integrated part of the Dash network. They incentivize users to run masternodes for incentives and to enable extra features. It allows Dash to become more than a payment network and are currently under development. Masternodes also act as a type of ledger, or blockchain of sorts.
Benefits of Dash
Darksend is a feature unique to Dash. It is a built-in coin-mixing service that uses an algorithm to break apart transactions and send them through different wallets with different outputs. This makes it extremely difficult to follow the flow of funds from one wallet to another.
InstantX is a feature unique to Dash as well. It allows for near-instantaneous transactions between addresses. This is achieved through transaction locking and masternode consensus. This allows Dash to compete with credit cards and cash for instantaneous transaction completions. Bitcoin’s transactions have been confirming faster, but they still depend on fee, priority and block confirmations.
Dash’s mining algorithm is a combination of 11 different algorithms (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo) and is aptly named after it, X11. This generates higher efiiciency among miners and further protects the network from hackers being that solving 11 algorithms at once would seem impossible.
Dash is going to make a Splash!
Dash promises to be authentic to Bitcoin’s ideology, without the infamous thefts!
Dash’s unique features has given it an edge in the market. With a growing community and a price that has steadily gained since it’s incception, it’s bound to make a presence. Dash is setting high expectations as a direct competitor to Bitcoin. In a world where governments are paying to gather information about its citizens, and where hacks of personal information are common place, Dash may change things for cryptocurrency and digital currencys alike. High priority for security, instant confirmations, an open network and many other features make Dash one of the most important altcoins around. Also the inventor of Dash had this to say about cryptocurrency investing –
Don’t invest more than you can afford to lose. And do lots of research. Also, don’t store coins in exchanges.
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