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What is Dash?

DASH

Dash is a cryptocurrency that is based on Bitcoin’s code, but has a number of innovations related to security and speed of transactions online. What makes us think that Dash…

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What is Dash?

Dash is a cryptocurrency that is based on Bitcoin’s code, but has a number of innovations related to security and speed of transactions online. What makes us think that Dash is an alternative targeted cryptocurrency with a strong focus on privacy and high processing speed? If we compare Dash with Bitcoin, certainly the latter, which was the first generated cryptocurrency, would not do well today. Well, Dash has greatly improved some of its main functions. For example, while transferring money in the Bitcoin system can take 10 minutes, Dash does it in seconds. In addition, the Dash cryptocurrency is self-financing and can be easily integrated into the Bitcoin ecosystem thanks to the fact that the code of both cryptocurrencies is similar.

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What is Dash and what is its history?

Dash is an open source payment system. Like most cryptocurrencies, it is fully decentralized. It was created as a fork of the Bitcoin (BTC) code, and was originally called XCoin. Over time, it was renamed DarkCoin. However, to avoid association with DarkNet, it changed its name back to Digital Cash, which simply means DASH for short. Dash was officially released on January 14, 2014 by Evan Duffield, who based his project on the X11 algorithm.

Dash is similar to BTC in many ways, but with instant transactions, increased anonymity and complete decentralization, it could be its real competitor.

What are the features of Dash?

Although Dash was largely inspired by Bitcoin (BTC), the father of all cryptocurrencies, and retains some features that are similar to it in various aspects, in Dash many of these features have been improved. For example, we can talk about its open source architecture, which allows anyone to add updates to the system.

An increase in the level of maximum anonymity and enhanced security measures that prevent monitoring of operations and hacking of transactions – this is another advantage worth mentioning.

Of course, it also has its own features that distinguish it from other types of cryptocurrencies. In Dash, for example, the pool of rewards that miners receive, 90% is distributed between miners and masternode operators, and the remaining 10% is used to fund other approved projects.

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Dash has a global reach that allows transfers from anywhere in the world. Transactions work with state-of-the-art technologies that guarantee almost instantaneous receipt with a time of less than 4 seconds. In addition, in Dash the cost of operations is much lower. On the other hand, Dash is the world’s first cryptocurrency with a two-tier network. How does it work? On the first level there are miners who record operations in the Blockchain log. And in the second are servers that ensure anonymity and speed of operations. In addition, it also has one of the most important and common features of the vast majority of cryptocurrencies, namely its decentralization.

What advantages does Dash have?

The advantages of using Dash cryptocurrency stem from its own characteristics. Because its main operational features have become great advantages for investors who choose to use this cryptocurrency inspired by the famous Bitcoin (BTC). However, among them, we want to highlight and summarize those advantages that we consider the most important, since they provide the greatest benefits to its users. So let’s see what we are talking about:

  • In addition to its decentralization, Dash guarantees the anonymity of transactions thanks to enhanced security measures.
  • It has innovative technologies that allow you to send money almost instantly, in 4 seconds.
  • Transfers can be sent from anywhere in the world with the same rates and speed.
  • Low cost in its operations.
  • Dash is the world’s first cryptocurrency with a two-tier network structure.
  • It has become a massively used payment option.
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Łukasz Michałek
Łukasz Michałek
Founder of the rapidly developing cryptocurrency channel "Biblia Kryptowalut" on YouTube. He also co-creates the Arena Trading group with Marek. Łukasz is fascinated and passionate about blockchain technology and cryptocurrencies, which constitute the central element of his activity in the cryptocurrency industry.
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