What is Dash?
Future of DASH Cryptocurrency and know how to buy DASH
#1 - Dash: The Basics
What is Dash?
- Launched in 2014, and previously known as Darkcoin, Dash is a cryptocurrency that was created and designed to guarantee user privacy as well as anonymity.
- In fact, Dash’s whitepaper, which was co-authored by Evan Duffield and Daniel Diaz, describe Dash as “the first privacy-centric cryptographic currency” based off of Satoshi Nakamoto’s work. Dash is typically a blend-word for Digital Cash (DASH, being its currency symbol).
- Dash is one of the first of the digital currencies to exist with a decentralized blockchain governance system. It was created as a result of a fork of the Bitcoin, meaning that the creation of Dash was typically to improve bitcoin’s shortcomings. This means that flaws and weaknesses that existed in Bitcoin are absent in the Dash token, making it significantly different, especially in terms of efficiency, speed and anonymity. We’ll discuss this in detail below.
#2 - What are the benefits of Dash?
There are several features of the Dash technology that play an important role in attracting investors to it. Some of those benefits are:
- Popularity: Dash has developed a steady follower base, and in fact, many have also strung along with it through all of its challenges. And without disappointing them, Dash has made through its challenges and has entered into an “action-packed” stage, drawing attention to more investors.
- It isuser-centricc: Amanda Johnson, the Spokeswoman of Dash, said Dash’s target audience “is for the kind of people who are not interested in cryptocurrency”. Being a user-friendly currency, Dash has evolved as one of the masses’ favorite coin. This is because of its versatility, flexibility and its universal appeal. The makers of the Dash coin have not only focused on its users but have also thought ahead of other crypto coin makers.
- Fast speed: Dash’s lightening speed has turned out to be its highlight. Its transactions take place instantly, giving it a headstart on adoption over many other cryptocurrencies.
- Liquidity: Not only is Dash is listed on a very large number of online exchanges, but it also accepted in all affiliate online stores already. Adoption is ongoing!
- Cheap costs: Dash is one of those crypto coins that can be considered as a cheaper substitute to the bigger cryptocurrencies, which are all usually overpriced. Moreover, its transaction fees are also provided at low rates, making it profitable for an investor.
#3 - How to buy and store Dash?
Buying Dash Cryptocurrency
Dash can be bought through:
- Fiat money
- Other cryptocurrencies
These transactions can be performed using Bitcoin, Ethereum and more. Being the popular cryptocurrency that it is, it is listed with over 150 pairings across nearly as many exchanges - including Binance, OKEx, Cryptopia, Bittrex, and more.
- While cryptocurrency exchanges provide you a platform to buy or sell Dash tokens, CoinSwitch largest cryptocurrency exchange comes in to help you make the right decision by providing the prices for Dash on multiple crypto exchanges. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
- What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your DASH coins. Instead, all transactions happen to and from your own personal private wallets.
While there are various different Dash coin wallets for its storage, here a few that are most user-friendly:
- Ledger Nano S: Hardware wallet
- Dash Wallet for Android
- Dash Wallet for iOS
- Dash Wallet: Core
#4 - How is Dash different from other crypto coins?
Unlike other crypto coins, Dash provides its users with special features of its own.
- One of them is called the InstantSend (previously called InstantX). This is beneficial in solving the problem of double spending (spending the same currency twice). This is done by barring the amount of money that is sent, without having to wait for a block confirmation.
- Another interesting feature of Dash is a coinjoin mixing technique called PrivateSend (previously called DarkSend). This helps in providing anonymity to the transactions that are carried out by its users. Coinjoin mixes the transactions of multiple entities into a single transaction, instead of separating them into different ones.
- Dash is also different from other cryptocurrencies due to its self funded structure. Dash mining works in unique ways. 45% of all Dash coins that are mined are earned by the miners. Another 45 percent are awarded to the masternodes running the network. The remaining 10 percent are sent to treasury that helps provides funds for its development team, for marketing purposes, and customer support centers.
- You could argue that Dash is also more democratic and consensus based - it has a voting mechanism that allows its users to vote on changes in the system, assisting with quick change implementation. This is missing in cryptocurrencies like Bitcoin, which many argue is the reason for its slow movement on scalability solutions.
#5 -What is the future potential of Dash
Being one of the most accepted altcoins in the cryptocurrency market, Dash has experienced a stable growth in the past years. Its valuation is as follows:
- This growth has come with its share of thrills. The coin went from barely $10 to over $1500 within less than a year between 2017 and 2018.
- Since then it has stabilized and trades between $300-$400 as of mid-2018 on the crypto markets.
- Moreover, it has effectively managed to break into a $1 billion market cap too. After April 2018, Dash’s market capitalization has hovered around $3.8 billion dollars.
Also Read: Complete Analysis of DASH | Live DASH Price Charts & Predictions
#6 - Should you invest in Dash?
With the spotlight moving towards altcoins in the recent times, Dash coins have made it big in the crypto space. And for investors that are always vying for something new, the Dash cryptocurrency checks all the criteria, making it one of the most preferred altcoins to investors of all types around the world.
A word of caution: Like most other cryptocurrencies, the value of Dash fluctuates quite a bit - having fallen from $1500 to below $400 in 2018. It would be wise to observe market trends before entering into this coin.
But, if we’re looking at thlong-termrm, as per its value and price records, Dash has grown significantly from its former position, and should continue to be a champion of fast transactions and scalable cryptocurrency industries.
This makes it a strong contender for top currencies like BTC, especially after having being marked 12th in the market for its trading volume. Filled with investor friendly beneficiaries like rapid mining speed, secure and risk-free transactions, elevated liquidities, Dash has been internationally considered as “the coin of the future” by crypto-analysts.