Dash Cryptocurrency: Overview of Benefits, Mining, and Prospects
Dash cryptocurrency review: the essence of a startup, features, and differences from other anonymous coins. Where to buy, store and how to mine Dash. Prospects for cryptocurrency quotes.
Cryptocurrency Dash is one of the most famous representatives of the family of anonymous coins, which occupies an honorable place in the TOP-15 in the ranking of startups in terms of capitalization. Despite the fact that anonymous cryptocurrencies are under pressure from regulators, they are quite suitable for diversifying the investment portfolio. In this review, you will read about the unique features and benefits of Dash. You will learn about where it is better to buy and store Dash, what mining methods are there, as well as what prospects the cryptocurrency has.
Cryptocurrency Dash – digital cash with absolute anonymity
Recently, there are more and more forks among payment systems by analogy with Bitcoin and decentralized networks. The family of anonymous cryptocurrencies turned out to be less popular among developers, taking an honorable third place among the most common ideas of startups. Among these projects, it is worth paying special attention to the DASH cryptocurrency (dash.org), which, although it has lost a little position, is still included in the TOP-15 in terms of capitalization. Only Monero is the best result of this family. From this review, you will learn: what is DASH, and what are its differences from the MTC, where to buy it and how to mine, what are its prospects.
Dash cryptocurrency review: essence, mining, prospects
The date of the appearance of the DASH cryptocurrency is called 2014-2015. Then a certain Evan Duffield founded the company Dash Core DAO, initially setting the goal to copy Bitcoin while eliminating its shortcomings. In particular, it was about making transactions completely anonymous with an increase in their speed and increased protection. To some extent, DASH can be called a fork of Bitcoin, since the coin uses its source code.
The basis of DASH is a two-level architecture structure, where, in addition to the basic level of the blockchain, there are also master nodes. Miners are controlled by masternode operators, a decentralized network of volunteers who sign transactions. As soon as miners reveal new blocks, users connected to master nodes using RandomSend technology randomly mix coins, breaking the connection between user data and transactions. Any user with more than 1000 DASH tokens on his account can connect to the masternode. The reward for opening the block is distributed as follows: 45% are received by miners, 45% by master nodes, 10% are sent to the reserve fund.
In fact, DASH is also a payment system, but with a different algorithm with a greater degree of anonymity. Its advantages:
- transaction speed is higher in comparison with Bitcoin;
- a decision on any issue is made according to the principles of decentralized systems (DAO), and not according to the majority voting system. This eliminates the problem of multiple forks due to disagreement of some network participants with a common opinion;
- The instantX payment support system has been introduced.
A new block appears approximately every 2.5 minutes, the reward for the block is 5 tokens. It is assumed that all coins will be issued by the year 2050, the annual issue volume will gradually decrease by an average of 7%.
Where to buy and store DASH
Despite the fact that the dsh cryptocurrency is one of the most popular and one of the best among anonymous coins, its trading turnover is concentrated only on several exchanges, although located in different regions. The British HitBTC ( hitbtc . Com ) account for about 16-19%, Dash where you can buy only for BTC and USDT. The exchange does not belong to the largest, because neither ETN nor fiat is provided here, and these are the costs of conversion fees.
European Huobi is in second place in terms of trading volumes – 13-15%. Despite the fact that there is also a limited selection of cryptocurrency pairs (BTC, USDT), this exchange is more convenient for investing in terms of functionality. After the Chinese division of the exchange was closed due to regulatory problems, Huobi went on to conquer the European market, entering the TOP 10 in terms of trading volumes. Compared to HitBTC, this exchange is more functional and more convenient for complex investment.
The third place is occupied by Trade Trade ( tradebytrade . Com ) – 7-8%. A little-known exchange, which among all cryptocurrencies on Dash accounts for about 75-77% of the turnover. You can also buy Dash at venues such as YoBit, Binance, Bitfinex, WEX, OKEx, less well-known Exrates, Lbank, Octaex, B2BX, etc. Each of these exchanges accounts for 2-6% of the turnover.
In terms of the share of Dash in the turnover of the largest exchanges, this coin is much inferior to competitors. For example, OKEx Dash is in the 6th ten with a turnover of a little more than 1% (leaders are BTC, EOS, ETN, LTC). A similar situation is with Binance, where the coin is located below 100th place. In the fourth ten with a turnover of about 1.5%, Dash is located at Huobi. The exception is only one exchange – YoBit, where Dash leads with 32% of the turnover.
From the foregoing, we can conclude that the coin is popular exclusively on small local sites and investors use it not so much for speculative earnings as for long-term investments.
I have repeatedly focused on the fact that cryptocurrency exchange accounts are unreliable. Besides the fact that they can be hacked, the exchanges themselves at any time for various reasons can block your account or simply turn off the site (technical failure). Therefore, it is optimal to withdraw Dash cryptocurrency immediately to wallets after a purchase. The list of the official recommended wallets is listed on the website:
- desktop: native mono wallet Dash Core and Dash Electrum, multicurrency wallets Jaxx, Exodus;
- Mobile (iOS, Android): Dash Wallet, Jaxx, Edge Wallet, Coinomi;
- hardware: Keep Key, Ledger Nanj S, Trezor;
- Paper: Dash Core Paper.
Wallets are also divided by the type of operating system: Windows 64 and 32 bit, OSX, Linux. Using other dsh cryptocurrency wallets that are not listed on the site can be fraught with money loss.