DASH Cryptocurrency in a nutshell

DASH Cryptocurrency in a nutshell
on September 1, 2017

Mineable? If so how is it mined?

DASH or Digital cash Cryptocurrency is mineable which basically means the new Cryptocurrency digital coins are created if a miner successfully verifies a transaction and adds it to a public ledger within the network of the Cryptocurrency being accessed. It also means that the individual needs to have a strong connection to the internet and has the suitable hardware that meets the process’s requirement in order to successfully perform the transactions.

DASH is an instant transaction, digital currency, and pricy centric Bitcoin-based token.

Maximum circulating coins

DASH Cryptocurrency have 7,908,752 circulating coins.

History

The dash was first created in January in 2014 and it was originally named as XCoin or XCO but eventually changed to Darkcoin on the next following years and rebranded as Dash. In June 2017, the daily trade and transactions of DASH have boomed for approximately 100 million dollars each day and a market capitalization of 4.8 billion dollars.

A big dash advantage is that the transactions can remain anonymous just like in real-life cash transactions. It is also able to achieve this process by mixing certain protocols using master nodes or unique networks of servers. These master nodes play a crucial part in achieving the process of Dash.

What makes it Different?

Bitcoin has been developed as a huge network because of its lack of competition and as the network grew, all the required consensus from different network participants eventually created numerous roadblocks. Unlike Bitcoin, where there are no incentives and not voluntary contributions, the developers of the DASH is commonly received payments for contributions such as adding a cool transactional feature like instant send and securing the network against any possible attacks.

Who is behind DASH?

The digital cash or DASH was created by a developer named Evan Duffield. He came across Bitcoin way back in 2010 and was inspired by this technology used and then eventually realized that it wasn’t fast enough and can exploit someone’s privacy. So, the idea of making the Bitcoin anonymous lets him alter its core’s code.

This alteration and the birth of DASH is the primary drawback of Bitcoin. The dash Cryptocurrency works following the two-tier network. Aforementioned, the first tier is composed of clusters of servers that are handled by miners and do certain and basic network functions including the verification of DASH transactions.

On the other hand, the second tier sets the dash apart and mostly consists of specialized full nodes that are designed for features including the private send an instant send. These full nodes are also responsible for controlling the developments of the different and remote dash networks.

If there is one thing for sure, this new Cryptocurrency is continuously growing at an impeccable and fast rate.

Contacts

Official Website: https://www.dash.org/

Announcement Thread link to BitcoinTalk: https://bitcointalk.org/index.php?topic=421615.0

Block Explorer Link: https://chainz.cryptoid.info/dash/

Github source code link: https://github.com/dashpay/dash

See also

Dash Cryptocurrency: Everything You Need to Know for 2018

Mineable and non-mineable cryptocurrencies, what you need to know

The Top 5 Best Bitcoin Wallets That You Should Use For Storing BTC