hough it started as a Bitcoin hard fork (or more specifically, a fork of a Bitcoin hard fork), Dash is a cryptocurrency rooted in innovation. One of the first “altcoins”, Dash set itself apart from the crowd with unique enhancements to its hashing algorithms and the introduction of masternodes.

is also a decentralized autonomous organization, or DAO, which means that its users are the ones responsible for determining future changes to the way the network operates.

Interested in (but not sure what it’s all about? No worries. This guide is designed to teach you everything you need to know about the project and get you ready to jump into the most user-friendly trading experience on the market.

What is Dash (DASH)?

originally known as Xcoin and Darkcoin, was launched as a fork of Litecoin – which is a fork of the Bitcoin protocol – in January 2014 by Evan Duffield to address Bitcoin’s purported flaws with transaction times and privacy. Dash was designed to protect the anonymity of its users with the X11 algorithm while delivering transactions at higher speeds using Masternodes.

is popular for it’s secure X11 algorithm and two popular features, InstantSend and PrivateSend. InstantSend allows users to transfer without waiting for transactions to be confirmed on the blockchain. PrivateSend enables users to obscure transactions by sending them in a special sequence that makes it difficult for any observers trying to trace DASH transactions.

How does DASH Work?

uses a two-tier network, allowing its miners and Masternodes to run in tandem. One layer is powered by miners who compete to create new blocks and secure the blockchain. Miners preserve the blockchain’s transaction history, while preventing double spending.

The other layer is controlled by Masternodes, which are users on the network who take some of the functions of a miner by staking 1000 . Masternodes help miners by ordering and verifying transactions

One major difference between and Bitcoin is that has an average block time of 2.5 minutes (compared to 10 minutes) and miners only receive 45% of the minted in each block (instead of 100% on Bitcoin). utilizes the utility token as one of the payment methods for fees on the Network and it is used for staking in Masternode system, allowing users to help secure the network in return for rewards.

Who Are the Founders of DASH? (History of DASH)

was founded in 2014 by Evan Duffield as “Xcoin” before being rebranded as “Darkcoin” – and then rebranded again in 2015 with the name to better represent its platform as ‘digital cash’. Duffield has claimed that he started it as a hobby, coding it in just one weekend.

Duffield stepped down in December of 2017, leaving the operations of the protocol to the Core Group. was one of the first alternative cryptocurrencies developed alongside Bitcoin and has been very prominent in the blockchain space over the last years rising as high as Rank 12 in 2018 amongst all other cryptocurrencies.

What Makes DASH Unique?

utilizes the X11 algorithm for mining. It is a combination of 11 different hash functions making it very secure, as the potential hackers would have to solve 11 different problems.also utilizes impressive features like private send and instand send.

has over 5000 Masternodes currently, making it one of the largest networks in the world.

has funded several community projects such as a feature-length documentary and the Force News Team.

What Gives DASH Value?

acts as a decentralized exchange of value and facilitates transactions between users who are invested in the ecosystem. is scheduled to release its test net in 2021 which will allow DAPPs and other stores of value to be launched on the platform.

The Dao receives 10% of every block that is solved. The DAO uses the 10% it receives from mining to invest as decided by governance, using a decentralized voting system. This has allowed the community to create many funded organizations including Core Group, Inc. (DCG), which supports continued development, integrations, and other activities for .

has seen adoption worldwide with several vendors and suppliers allowing transactions in . is very popular in Venezuela with over 40,000 users of the DASH wallet located there. A list of companies that support can be found on the official website.

has a circulating supply of 10,027,308~ tokens and a total maximum supply of 18,920,000 . This supply will never increase unless the DAO votes to allocate additional rewards from the 10% reserved for budget proposals.

During the first 48 hours of launch roughly 2 million coins were mined. This significantly exceeded planned emission schedule. was originally forked from Litecoin, which suffered a similar issue at its launch due to a bug in its difficulty adjustment algorithm. While it is well-documented that inherited the bug from Litecoin, there has, nonetheless, been widespread speculation about whether the resulting fast mine was intentional to benefit early miners.

How is the DASH Network Secured?

like Bitcoin, stores all transactions made on the network on a public ledger. This is so that the network can verify users have enough funds in their wallets to make a transaction. However, unlike Bitcoin, uses a two-tier network where miners and Masternodes run in tandem. This makes it quicker than Bitcoin for processing transactions while also offering additional security.

By using Masternodes to secure the network rogue miners are unable to overpower on their own. Even if malicious actors or rogue miners captured 51% of the mining power, Masternode operators would keep the miners in check. By combining Masternodes with the X11 algorithm for miners, becomes incredibly resilient to bad actors.

Other Technical Data

Masternodes – a node is defined as any computing device (computer, phone, etc.) that is maintaining a network. Masternodes are governing hubs with additional collateral requirements.

Miners – the role of miners is to secure the network and to process every transaction. Miners achieve this on the network by solving a X11 computational problem which allows them to chain together blocks of transactions

X11 – a widely used hashing algorithm created by core developer Evan Duffield. The X11 algorithm uses multiple rounds of 11 different hashes (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo), thus making it one of the safest and more sophisticated cryptographic hashes in use by modern cryptocurrencies.

How To Use DASH

launched its main net in 2014. Users can head to the official Website to create a wallet.

Once a wallet has been created users will be able to deposit and manage their funds on the network. is primarily used to facilitate transactions of value on the Network. may be staked by users participating in the Masternode system for additional rewards. Additionally, can be used as a speculative investment tool and a form of payment.

How To Choose a DASH Wallet

The type ofwallet you choose will likely depend on what you want to use it for and how much you need to store.

Hardware wallets or cold wallets provide the most secure option with offline storage and backup. Both Ledger and Trezor hardware wallets offer storage and staking solutions for . Hardware wallets can involve a bit more of a learning curve and are a more expensive option, however. As such, they may be better suited to storing larger amounts of for more experienced users.

Software wallets provide another option and are free and easy to use. They are available to download as smartphone or desktop apps and can be custodial or non-custodial. With custodial wallets, the private keys are managed and backed up on your behalf by the service provider. Non-custodial wallets make use of secure elements on your device to store the private keys. While convenient, they are seen as less secure than hardware wallets and may be better suited to smaller amounts of or more novice users.

Online wallets or web wallets are also free and easy to use, accessible from multiple devices using a web browser. They are considered hot wallets and can be less secure than hardware or software alternatives, however. As you are likely trusting the platform to manage your , you should select a reputable service with a track record in security and custody. As such, they are most suited for holding smaller amounts or for more experienced frequent traders.

Kriptomat offers a secure storage solution, allowing you to both store and trade your Dash (DASH) tokens without hassle. Storing your with Kriptomat provides you with enterprise-grade security and user-friendly functionality.

Selling and buying , or exchanging them for any other cryptocurrency, is done in mere moments when you choose our secure platform as your storage solution.

DASH Staking

currently supports staking through it’s masternode model and third party providers. The average APY for is currently 5.5%.

Conclusion

is a well-established cryptocurrency that has encountered and passed numerous obstacles. It offers a unique value proposition in terms of governance, which many investors may like. If we add to that the fact that Dash is a blockchain that can host decentralized applications, we may see why this cryptocurrency is so popular amongst crypto enthusiasts.

DASH FAQ

Is DASH a competitor to Bitcoin?

Yes. was designed by Evan Duffield to address decisions in Bitcoin’s design that he disagreed with and to make a more robust protocol.

When will staking be released?

Staking has already been released for users who wish to participate in the masternode system. The website offers a walkthrough for any users who want to stake.

How to Buy DASH?

Buying DASH is as easy as visiting Kriptomat’s how to buy DASH page and choosing your preferred method of payment.

How to Sell DASH?

If you already own DASH and hold it on a Kriptomat exchange wallet, you can easily sell DASH coins by navigating the interface and choosing your desired payment option.

DASH Price

Several factors influence DASH price & market cap, including exchange inflows and outflows, sentiment, technical and fundamental developments, the news cycle, and the general economic environment.

DASH price is also directly impacted by the demand of users who use DASH to transact on the network.

Like Bitcoin, the price is decided at any given moment by the cumulative buying and selling of millions of participants worldwide. You can keep up to date on the latest price action and news using crypto exchanges like Kriptomat or one of the many different cryptocurrency tracking services.

The 24-hour trading volume of DASH is 23,115,651 €. DASH is currently ranked #220 of all cryptocurrencies by total market capitalization, with a market cap of $327,609,407 €. It has a circulating supply of 11,819,939 DASH.

Features and Benefits of DASH

DASH is a cryptocurrency designed to be a fast, secure, and private means of digital payment. Here’s a breakdown of its key features and benefits:

Features:

Two-Tier Network: DASH utilizes a unique two-tier network system. It consists of standard miners and masternodes which perform additional functions for the network.
Masternodes: Masternodes are incentivized nodes that offer additional services to the network, including:
- InstantSend: Enables near-instantaneous and irreversible transactions, aiming to improve usability for everyday payments.
- PrivateSend: Provides optional transaction obfuscation to enhance user privacy. This is achieved through a coin mixing service that makes it more difficult to trace the origin and destination of funds.
- Coin Governance: Masternodes play a role in network governance by voting on proposals for changes to the DASH protocol.
Proof-of-Work Consensus Mechanism: DASH relies on a Proof-of-Work (PoW) consensus mechanism similar to Bitcoin, where miners compete to solve cryptographic puzzles to validate transactions and secure the network.

Benefits:

Fast Transactions: InstantSend allows for near-instantaneous settlements, potentially making DASH suitable for real-world purchases.
Enhanced Privacy: PrivateSend offers an optional layer of privacy for transactions, potentially appealing to users who value anonymity.
Decentralized Governance: Masternodes enable a decentralized governance system where stakeholders can participate in voting on the future of the DASH network.
Security: The PoW consensus mechanism and incentivized masternode network contribute to the overall security of the DASH network.

Things to Consider:

Privacy Regulations: Regulatory scrutiny surrounds privacy-focused cryptocurrencies like DASH. Some regions may have regulations that could impact how DASH functions.
Scalability: The two-tier network structure can be resource-intensive, and there are ongoing discussions about scalability solutions for DASH.
Market Volatility: As with other cryptocurrencies, the price of DASH can fluctuate significantly.

Overall, DASH offers a unique set of features designed to make it a fast, secure, and private digital currency. However, it’s important to be aware of the potential drawbacks, such as regulatory considerations and scalability challenges, before making any investment decisions.

Summary of DASH

DASH is a cryptocurrency aiming to be a practical, everyday form of digital cash. Here’s a quick summary of its key points:

Focus: Fast, secure, and private transactions.
Two-Tier Network: Unique system with standard miners and masternodes. Masternodes provide:
- InstantSend: Near-instantaneous settlements for quicker payments.
- PrivateSend: Optional privacy features to mask transaction origins and destinations.
- Coin Governance: Masternodes vote on proposals to shape the future of DASH.
Benefits: Potential for faster payments, enhanced privacy options, decentralized governance, and overall security.
Considerations: Regulatory scrutiny around privacy features, ongoing discussions about scalability, and inherent market volatility of cryptocurrencies.

Remember: Do your own research before investing in DASH or any cryptocurrency.

Is DASH Safe?

DASH security is built around a combination of factors, including its two-tier network structure and Proof-of-Work consensus mechanism. Here’s a breakdown of its security aspects:

Pros:

Two-Tier Network: The masternode layer adds an extra layer of security compared to standard Proof-of-Work blockchains like Bitcoin. Masternodes require a significant amount of DASH tokens as collateral to operate, making them more resistant to malicious actors.
Proof-of-Work Consensus: The underlying Proof-of-Work mechanism utilizes miners who compete to solve complex puzzles to validate transactions and secure the network. This distributed system makes it difficult for any single entity to gain control.
Secure Hash Function: DASH utilizes a secure hash function called X11 which is considered resistant to ASIC mining centralization. This ideally allows for a more decentralized network of miners securing the network.

Cons:

51% Attack Risk: While unlikely, a theoretical possibility exists where a malicious actor could gain control of over 50% of the mining power, enabling them to potentially manipulate transactions.
Wallet Security: The security of your DASH ultimately depends on how you store it. Using a reputable and secure wallet is crucial to protect your funds from hacking or theft.
Targeted Attacks: As with other cryptocurrencies, DASH can be vulnerable to targeted attacks on exchanges or wallets. It’s important to choose secure platforms to store and trade your DASH.

Overall:

DASH offers a security framework designed to be robust. The two-tier network and Proof-of-Work mechanism contribute to a secure foundation. However, it’s vital to remember that no cryptocurrency is foolproof. Here are some additional tips for keeping your DASH safe:

Use a secure wallet: Choose a reputable hardware wallet or software wallet with strong security features.
Enable two-factor authentication (2FA): Add an extra layer of security to your accounts whenever possible.
Be cautious on exchanges: Only use reputable crypto exchanges with strong security practices.
Stay informed: Keep yourself updated on potential security risks and best practices.

By following these practices, you can help to mitigate security risks and protect your DASH holdings. It’s always wise to conduct your own research to stay informed about the latest security developments.

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