What is Dash?
Dash is a cryptocurrency that focuses on privacy. The digital currency is exchanged via encrypted software. Dash is built upon Bitcoin’s core code and is compatible with several of its key components. It has two-tier network structure that helps in enhancing the speed of transactions and improves anonymity and governance.
History of Dash
At the beginning, Dash was known as Xcoin. In January 2014, Dash was relaunched as Darkcoin following which in March 2015, it was rebranded by developers as Dash — short for “digital cash.” Dash was created by Evan Duffield, who is also the lead developer.
Features of Dash
Dash uses a two-tier network unlike the single-tier network that is utilised by Bitcoin. One of the tier is handled by the miners while the second one made up of masternodes that are responsible for functions like governance, PrivateSend and InstantSend.
Here are some of the services enabled by the Masternodes:
- InstantSend: It allows near-instant transactions. Dash transactions with InstantSend are fully confirmed within two seconds.
- PrivateSend: It offers financial privacy by obscuring the source of funds on the blockchain.
- Governance: It allows Dash stakeholders to determine the direction of the project.
Where can you buy Dash ?
The market capitalisation of Dash as of April 2018 was $2,559,161,062 USD. Dash is supported by popular exchanges like Changelly, Beatcoin, Anybits, Bitbay, Bitit, Coincheck and many more.
Dash Price Trends
Dash can be stored in several types of wallets such as mobile wallets (Android, iOS), desktop wallets, paper wallets and hardware wallets.
Dash Cryptocurrency Recent News and Development
- In early November 2018, Dash Core Group announced the formation of Dash Text - a technology that allows users to conduct transactions in cryptocurrencies through simple SMS text messages. This feature will be available primarily in Venezuela. The country’s recent currency crisis has provided Dash with an unique opportunity make a case for real-world cryptocurrency adoption. In fact, more than half of merchants who accept DASH tokens across the world are based in Venezuela.
- Coming to the price of the token itself, its value has been falling gradually since February 2018 - shortly after the crash in the cryptocurrency space. DASH tokens were seen being valued at levels well above the $1,000 mark in January. However, the same by the month of February had collapsed down to levels below $650.
- As the year went by, there didn’t appear to be any relief for the investors. The price kept on plummeting and by March, DASH tokens were being valued at levels close to $350. The cryptocurrency continued to exhibit its bearish trend and by July, the same had descended into the $200 region. Needless to say, the token continued to go down further although, the fall appeared to be rather steady. Through the months of September and October, the cryptocurrency lost a little over 10% to descend below the $180 mark.
Risks involved in dealing with Dash
It must be noted that cryptocurrencies are volatile in nature and involves several risks. It is not possible to determine whether the Dash value will increase or decrease. Hence, it is advised to invest your hard earned cash in mutual funds instead as it is a more safer option.
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