Dash, short for Digital Cash, is proving to be an excellent digital currency alternative to Bitcoin. It came into existence at a time when Bitcoin has had numerous drawbacks. One major drawback of Bitcoin is being unable to solve anonymous and private transactions. Dash is among the newest breed of cryptocurrencies that are now referred to as Anonymous Cryptocurrencies. Its foundation is built upon the core code of Bitcoin, with a couple of additional features e.g. quick transactions and privacy. Unlike btc, Dash’s transaction fee is insignificant. But like btc, Dash owns a wallet infrastructure, internet community, and blockchain. It is open-sourced in nature and intends to be used as real cash.
|Market Cap||Volume||Last Trade|
|Max Supply||Algorithm||Proof Type||Start Date||Difficulty Adj||Website|
|22000000||X11||PoW/PoS||18/01/2014||DGW||YES||Block RR||Block No||Network H/S||Current Supply||Block Reward||DigitalCash|
History of Dash
It was officially opened to the public as XCO (XCoin) on 18th of January 2014 by Evan Duffield. The name was later rebranded as ‘Darkcoin’ in February 2014. Later on in March 25th, 2015, Darkcoin was changed to Digital Cash (Dash). In 2010, Duffield was impressed by Bitcoin’s blockchain technology when he first came across it.
He, later on, noticed that no matter how impressive it was, it was neither private nor fast enough. Evan decided to make use of Bitcoin’s core code. In this way, he was able to come up with his own cryptocurrency. He put a team of developers that now runs one of the most preferred cryptocurrencies to date.
Technology of Dash
- Dash currently supplies 18 million coins. The following are a couple of its unique features;
As the name suggests, this feature enables users to send instant transactions. This service also provides a solution to the problem of double-spending. This can be mainly because of its improved api specifications. It was previously known as InstantX but was changed in 2016 to InstantSend.
- Private Send
This is an optional feature. It allows users to privately send funds. This is done by mixing these funds with various transactions, thus making theft impossible. However, 1000 Dash is the limit for users to be able to buy and sell using this feature.
These are unique nodes that make it possible to perform both InstantSend and PrivateSend payment functions.
Coins similar to DigitalCash
Since its inception, this digital currency has undergone a noticeable price rally. In terms of assets, Dash has grown at a +10,00,000% rate, up from $0.02. This is clearly an increase in market volume. This kind of evolution sets it apart from other cryptocurrencies. With this kind of success, we don’t expect Dash to leave the cryptocurrency market anytime soon.
Even with these unique upgrades, Dash still uses Bitcoin’s protocol. This makes integration into the ecosystem that revolves around Bitcoin possible. Even so, Dash is still the best alternative to Bittrex, Poloniex and Bitcoin. With features such as PrivateSend, users can be sure that their transactions are 100% safe and unnoticeable.