“After this rocky beginning Darkcoin was renamed Dash in March 2015, but their privacy features remained the same. Each transaction is anonymous and uses a technology called Darksend. This rebranding had the goal of making the currency more mainstream, a marketing move to gain user adoption. Dash reinforced its image as a secure coin that transacts instantly…”
Coin Name: Dash
Birth of project: 2014
Project Status: Privacy
Circulating Supply: 7,946,184 DASH
Official website: https://www.dash.org/
Official Wallet: https://www.dash.org/wallets/
Introduction to Dash (DASH)
Dash is a privacy coin that launched its blockchain on January 2014 with the name of Darkcoin, having Evan Duffield as main developer. Duffield forked the Bitcoin protocol with the goal of enhancing its privacy and speed of transactions.
Dash features a self-funding structure, meaning that each time Dash is mined, 10% goes to that structure that has as goal to improve the currency ecosystem. On this regard, we can mention the investment of over $1 million on a point-of-sale platform name Alt Thirty Six.
Another technical feature from Dash is the two-tiered structure. Comparing with Bitcoin, where all the work on the blockchain is made by the miners, with Dash super-users exist with the name of masternodes. These masternodes are the ones deciding where the funds go. Anyone can be a masternode, considering you have minimum 1000 Dash coins.
The beginning of Dash was not peaceful though, because the currency was instamined, meaning that 1.9 coins were created in the first 24 hours, instead of making a premine that would have allowed a more fair distribution, as it’s the goal of cryptocurrencies.
Today we are reaching the barrier of 8 million Dash coins of an expected max supply of 18.900. Those supporting Dash when it was created received a big benefit, as Duffield choose not to relaunch the blockchain (unlike what happened with Monero and Bytecoin), creating a sense of unfairness.
After this rocky beginning Darkcoin was renamed Dash in March 2015, but their privacy features remained the same. Each transaction is anonymous and uses a technology called Darksend. This rebranding had the goal of making the currency more mainstream, a marketing move to gain user adoption. Dash reinforced its image as a secure coin that transacts instantly.
From the consumer perspective, the way Dash works is similar to Bitcoin: Dash can be used in prepaid cards and spent where those debit cards are accepted. At the same time, Dash is mostly used as an investment, and not as a currency, so there is still a long way to be made in this aspect.
Dash presents itself as an more private and fast alternative to Bitcoin, but there’s a lot of competition for this same space, namely from Bitcoin Cash and Litecoin, apart from the other privacy coins, so the next months will tell how big Dash can become.
This is a brief introduction to Dash, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $687.70
Jan 19, 2018: $833.30
Dec 19, 2017: $1,165.03
Nov 19, 2017: $455.36
One thing which I love about Dash is it’s enhanced privacy and speed of transaction processing. This makes everything more easier unlike when it takes longer periods to approve a transaction. The reason for this is that Dash is more of an investment than a currency, so it can easily be used just like prepaid cards as well as debit cards are used.
From everything that I read so far, I must agree.
Speed of transaction is, indeed, one of the most important things in crypto exchange.
Ability to use dash as a debit card/prepaid/credit card is something crypto currencies needed.
I am looking forward to explore more about DASH.
Yes, it’s a lot good to have the possibility of using dash for bank credit card transactions. It makes the coin to be more viable for transaction in such a way that it would be easy for people to use. I know a few people who have made use of dash for their foreign exchange and transaction, it’s very swift.
Speed of transaction is important, but also safety. The main focus of Dash is privacy though.
@Denis, many currencies these days can be spent using debit or credit cards, it’s not something exclusive for Dash.
These days most cryptos are more of an investment, we are just waiting for that killer app that will trigger the usage of crypto massively.
Did it copy it’s name from the Kardashian clothes store?I hope not. I like the fact that it is self-funding. This may ensure the technology keeps improving. I’ve never heard of this crypto, so this is a worrying aspect of it. However the commentary mentions it’s meant to be more private than bitcoin. This suggest it’s also has an element of exclusivity. It’s success will depend on how well this is adopted. For example,If a group of wealthy people adopt to it and use as an exchange between themselves it may gain traction. It sounds promising!
You don’t need to worry much about Dash, although to worry about something before getting your money into it is very useful, so as not to make one silly bad transaction. But I can guarantee you that Dash is 100% legit and cool.
Why cool @Martins? 🙂
Good suggestion though, never buy what you don’t know, get informed first!
It’s not hard to be more private than bitcoin because bitcoin is public.
It’s true that the fact that all the cryptos being new makes people suspicious, but it’s also when crypto is more profitable, as we can buy it cheaper now. 😉
Dash is a cryptocurrency that is definitely good for consumers and is used when they go shopping, and was really made to replace Paypal. Many merchants accept Dash just like USD, but the transaction is a lot faster-not waiting a day or two for payment charged to your account. Also fees are much lower than Palpal- and no chargebacks using this cryptocurrency as well!