In order to create a new cryptocurrency, it is not enough just to come up with its name. It is necessary to offer future owners unique properties and algorithms. The modern cryptocurrency Dash has already changed its name several times, previously it was known as Xcoin and Darkcoin.
How did this cryptocurrency originate?
Dash first appeared on the market on January 18, 2004, and in the first hour of its existence, users mined 500,000. And in the next 7 hours, users reached 1,000,000. From the first minutes after its launch, it was able to win the location of many miners from around the world, and later – to establish itself as a reliable and stable digital currency, which undoubtedly compares favorably with the constant increase in the Dash rate.
Today, the Dash cryptocurrency is among the top ten leaders in terms of capitalization. A special distinguishing feature is a focus on anonymity. With Dash capitalization, the specified user data is fully protected, and a special development in the field of network technology makes all money transactions completely anonymous.
After the rebranding process, the creator of Dash positions its brainchild as the only, completely anonymous virtual currency, the code of which is absolutely open to a wide range of users. The main directions that developers pay attention to are the speed of operations and their safety with which Dash is mined. The modern version provides for the release of only 22 million “coins.” The main function of this restriction is to restrain coin growth.
Features and principle of operation
The Dash cryptocurrency for the current day is a decentralized payment system that has a number of features that distinguishes the coin from others. The main difference is that this currency is based on a two-tier system. The decentralized management model created at the 2nd level (Masternode) makes it possible to form a kind of secure network for communication processes. Accounts that could earn Dash in the amount of 1000 or more enter the Masternode. They must also meet a number of requirements and fulfill a peculiar identifier role. But the main feature is that each such account can take part in making important decisions in the life of virtual currency. The fact is that 1 such Masternode has 1 vote, which can be used in the voting process at your discretion. Significantly different and the distribution of profits from the sale. The company’s budget provides that 10% of the mining of Dash and its new blocks goes to development – various start-ups, projects, the development of new ideas that help not only to maintain and expand its niche in the international cryptocurrency market but also to develop the system as a whole. Such an original solution allows you to maintain competitiveness. This budget financing allows you to constantly develop and improve the principles of mining. which help not only to maintain and expand its niche in the international cryptocurrency market but also to develop the system as a whole. Such an original solution allows you to maintain competitiveness. This budget financing allows you to constantly develop and improve the principles of mining.
Dash and Bitcoin are the main differences
Cryptocurrencies existing in the virtual financial market have some differences. It is these differences that make it possible not only to maintain our positions but also to attract new supporters to earn Dash.
- If in the Bitcoin system there is a conversation about secrecy that accompanies the entire financial side, then in Dash there is complete anonymity. Even the system in which you work cannot track your operations and actions.
- Since there is no connection between the account and the transaction, this eliminates any manipulation or the ability to track and analyze your operations. And in the Bitcoin system, the blockchain contains information that is available to all users for analysis. The most advanced users with a great desire can find the recipients of transactions, see the balance and payment history.
- There is no Masternode in the Bitcoin system. This is a chip exclusively in the system associated with Dash mining, which makes it possible not to stand still, but to develop and improve. The system is financed internally and does not depend on investor money.
Today, we can safely say that the team that works in the capitalization of Dash successfully managed to resolve issues that are related to the most relevant aspects of the full functioning of any cryptocurrency, such as:
- questions regarding anonymity;
- fast confirmation of a successful transaction;
- double waste issues;
- decentralization of management.
The only drawback that exists in the work of the Dash financial unit is weak aggregation with reality. Unfortunately, in the current period of time, it is in relatively small volumes in demand among consumers and as a result, this cryptocurrency is much less often accepted as payment for goods or services. But over time, this shortcoming will completely disappear.
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