What is DASH?
DASH is short for “Digital Cash” and was originally named XCoin, when it was founded in 2014.
DASH is an open-source peer-to-peer Cryptocurrency, which is similar to Bitcoin in many ways, but also aims to being digital cash of daily use for the masses.
The Cryptocurrency, which was also named “Darkcoin” for a small period of time, is mainly focused on privacy and data protection.
DASH is rank number 18 of Cryptocurrencies by Market Capitalization.
With a market value of $813 M, DASH is just behind TRON and Monero and has a price of $86,04 per coin.
How does it work?
Technically speaking, DASH is a Fork of Bitcoin, but compared to Bitcoin, DASH is significantly faster and more anonymous.
The aim of DASH was to create a cryptocurrency, that has rapid decision-making routes on the one hand, but is also decentralized on the other hand.
In order to find a satisfactory compromise between this contrarian goals, the developers decided to implement Masternodes.
To become a Masternode, one has to deposit 1000 DASH and then has the authorization to run a server, confirm transactions and vote for further developments on the Blockchain.
By giving the power over the Blockchain to these Masternodes, DASH maintained its decentralization and became one of the first DAO (decentralized autonomous organization).
There are two main functions of DASH:
PrivateSend: In order to guarantee privacy for their customers, DASH developed “PrivateSend, which enables users to send and receive DASH anonymously by paying a small fee.
InstantSend: Because transaction confirmations are taking too much time for some users, DASH created “InstantSend”. By creating a software-mechanism, that guarantees the payment recipient to get his money, DASH eliminated the need for an intermediary.
Advantages
The biggest advantage of DASH is, that there is an opportunity for customers to process transactions in real-time by paying little fees.
Another benefit of using DASH is, that you have the possibility to do anonymous transactions.
Because of the Masternode-system, a constant development of the Cryptocurrency is taking place.
Points of criticism
There is a possibility, that masternodes collect transaction data, which would result in a decrease of privacy.
Also, the possibility of wrong decisions been made by the masternode-sytem or the possibility of being hacked, are possible threats to the Cryptocurrency.
Should I invest in DASH?
From its All-time-high of 1.642$ in Dec 2017, the price of DASH corrected to 86,04$, which is the price of DASH today. This is a decrease in price of about 95%. Given the fact, that DASH received further development in the last years, it could be a good investment at the current prices.
Because of the fact, that DASH aims to be a Payment-System for millions of people using it every day, makes the Cryptocurrency a investment with a big possible return-on-investment. On the other hand, there many other Cryptocurrencies aiming for the same goals. The future will tell, which privacy Coin will be successful and which is going to be forgotten.
This is not financial advice!
Always do your own research!
