Dash (DASH) is a type of digital currency that is intended to be a peer-to-peer currency.
Digital currency Dash was first introduced in 2014 and has become one of the first in the market to become an important digital currency that investors continue to interact with today. From mid-2017 to early 2018, Dash continued to be one of the most powerful digital currencies attracting many global investors.
But what makes Dash so different and preferable than any other peer-to-peer digital currency on the market? The answer lies in the basic privacy and speed capability Dash provides to its users. This is precisely why many people call Dash a fast and anonymous digital currency.
Dash and Bitcoin Similarity
Dash, just like Bitcoin, can be used to make purchases and pay. You can also keep it as an investment in hardware or software purses.
Like Bitcoin, Dash is based on a public blockchain where each transaction is recorded. Unlike Bitcoin, Dash provides users with a processing speed of four seconds that is far beyond Bitcoin. The average transaction fee is also significantly lower at $ 0.04 per transaction.
Although the Dash is called an “anonymous digital currency,” it is a public blockchain, making transactions visible to everyone. However, although it is true that Dash transactions are public, it still provides users with a degree of anonymity.
For example, Dash users do not have to share personal information such as names and addresses. Although many see this anonymity as an important benefit, there are also people who are concerned about this anonymity because it can set the scene for crimes.
However, like Bitcoin and Ethereum, Dash is also created through a mining network. These miners use special hardware and software to solve computer algorithms that protect the Dash network.
Dash’s Strong Management Structure
Another important strength of the Dash network is management and controls.
In the case of decentralized projects, management and supervision can be difficult, but Dash avoids this problem by ensuring that decisions are made by the network. The persons participating in these management decisions are the owners of the masternodes. And masternode owners can vote against any proposal.
To give a quick example of this, we can examine Dash’s decision to increase the size of the block in recent years. In 2016, an offer was sent by the Dash Core Team to increase the block size of Dash to 2 MB. In less than 24 hours, a collective decision was made to implement the change in the vote.
The Dash project is financed by Dash’s block award. However, 10 percent of each block prize is used to finance the development of Dash. When Dash’s block prizes are distributed, 45 percent of the prize goes to miners, 45 percent goes to masternodes, and 10 percent goes to network funds.
How to Buy Dash
Given the short history of the digital money market, Dash can be traded on many crypto currency exchanges around the world, as it is often preferred by investors and users today.
Dash can be purchased from multiple exchanges including Bitfinex, Bittrex, Kraken, HitBTC, Poloniex and Binance. It is also possible to keep and store Dash through an official software wallet or supported hardware wallets for investment purposes.