What is Dash?
Dash is a decentralized peer to peer electronic cash which is as real as a real cash. It is build based on the codes of Bitcoin, but it is modified or forked in order to do some changes like additional privacy and quick and easy transactions. It is an open source and owns a proprietary wallet, blockchain and community.
Dash Broken Down
Essentially, Dash is a digital cash that you can spend whenever and wherever you want. A completely secured open source platform is provided in order to make online or in-store payments. Payments that are made can either be public or private. It is used and hosted by millions of users all over the world due to its instant and completely private payments.
It is equipped with a PrivateSend feature in order to keep all information private. Furthermore, Dash depends on a peer to peer network. Like any other digital currency, miners solve mathematical problems and get rewarded for every successful problem solved. Masternodes are also rewarded to them to validate, serve and store the blockchain. Masternodes allow privacy, governance, instant transaction and so much more.
Dash was launched in 2014 which makes it the very first ever self-governing and self-funding protocol. Users of Dash can present and propose their own project and they get paid for everything worthy that they can contribute to the network.
An additional feature of Dash in the near future is the Dash Evolution which makes the network so much easier to use. With this, clients can create or open their account in any device and complete transaction there. Dash evolution will surely bring digital cash into the next level and into the comfort of the mobile phones or tablets of users.
Features of Dash Cryptocurrency
1. Private Send – Sending of funds can be done privately by mixing it with other transactions. The use of this feature depends on the user. With this, transactions with Dash can be done anonymously.
2. Instant Send – Transactions with Dash is accomplished within seconds, 1.5 seconds at that. Fees for such transactions are much higher.
3. Masternodes – Anyone can form a Masternodes as long as he has 1000 dash which serves as the collateral.
How it Works
Dash runs on a masternode network or a two-tier network. The first tier is made up of nodes. Nodes are computer networks which had the capacity to communicate with one another within the network. Verification of transaction and creation of new coins are through these nodes which are used by miners.
Masternodes make up the second tier. These are computers that contain the full blockchain of cryptocurrency. It facilitates transactions that are done though PrivateSend and InstantSend.
Rewards with Dash are divided accordingly. 45 per cent is given to the miner, another 45 percent is given to the masternode operator and the remaining 10 percent is rewarded to the Dash maintenance funds.
Dash is a great cryptocurrency today which is way easier and faster than the rest. It is very easy to use and is expected to expand as time goes by. It is very flexible, ready to use and has a solid infrastructure which makes it promising and worth the try.