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What is a DASH coin?
DASH coin has been adopted by many online services and you can now use it to pay on more than 120 websites and 150,000+ stores. The DASH network has improved significantly since its release. In this overview, we’ll cover the unique aspects of the coin as well as the benefits of the network.
Story of DASH
The whitepaper from DASH cryptocurrency was released in January 2014 and at the same time the coin was launched. The coin was created by Evan Duffield and was an offshoot of the Bitcoin protocol. It was originally known as XCoin and was later renamed Darkcoin.
Like other early cryptocurrencies, it was widely used for Dark web transactions. In its early years, the coin was the subject of pump-and-dump speculation, but it should prove to be a legitimate cryptocurrency.
In 2015 the coin was finally renamed to its current name, and this should be a trunk word of the name “Digital Cash”. The altcoin is used all over the world and was even named the most popular cryptocurrency in Venezuela in 2019.
How does the DASH network work?
DASH has been split off from the Bitcoin protocol and uses two different layers for improved efficiency. The first level of the network is the proof-of-work system, in which miners have to solve complex math problems.
Whenever the miners solve the problems, they are rewarded with a small number of digital dash tokens.
The second level of the network is that Masternodes. People who own large sums of Dash Coins can operate the Masternodes and they are allowed to perform the Instant Send and Coin Join functions of Dash. Masternodes can also vote on issues such as governance and funding proposals.
Whenever miners solve math problems, they can keep 45% of the newly minted coins. Another 45% of the new coins go to the masternodes and the other 10% to Dash’s governance budget.
Buy and sell with Dash Coin
If you want to shop with Dash, you can use the Dash Direct application. It can also be bought on various crypto exchanges and all you have to do is look for the Dash icon. Here are some of the crypto exchanges you can buy Dash Coin on:
- Coinbase
- Binance
- BitMart
- BTCC
- Digi Finex
- Coin trading
- Coinbase Pro
- Coin tiger
- Bitfxt
- Bitfinex
- Fights
- Buy UCoin
In order to store your dash coins, you need to use a cryptocurrency wallet. The wallets have different functions and security standards and work on different devices. Crypto wallets are generally divided into hot wallets and cold or hardware wallets.
Hot purses are simply pieces of software that can be installed on a desktop or mobile device, and cold purses are physical objects that function like flash drives. Here are some of the most popular crypto wallets for Dash:
- Dash Android
- Edge
- Coinomi
- Dash electrum
- Jaxx freedom
- Exodus
- Bitnovo
- Dash Direct
- Search
- Ledger
Dash price and market capitalization
The current price of the Dash cryptocurrency is $ 206.12 and has a circulation of 10,420,817 coins. Dash’s market cap is $ 2.152 billion.
This puts the coin in 74th place in the list of important crypto currencies. The maximum supply of Dash Coins is 18.9 billion, and as already mentioned, Dash share is created using the proof-of-work mining system.
the All time high The Dash Coin price is $ 1,642.22 and was recorded on December 20, 2017. On February 14, 2014, the altcoin recorded its lowest ever price, and it was $ 0.2139.
What is dashing meaning?
Some people in the crypto community have used the term “dashing” to refer to transactions made with this cryptocurrency. Since the altcoin was supposed to enable fast transactions, this verb captures the essence of the coin.
Dash vs Bitcoin
BTC was the first cryptocurrency to be released. It was released in 2009 just as the recession was ending. On the other hand, DASH was released in 2014 and was intended to improve certain aspects of Bitcoin.
While Bitcoin uses the SHA-256 mining algorithm, DASH uses the x11 algae. The DASH mining algorithm requires less processing power, uses less energy, and keeps mining hardware cooler.
The main problem with BTC was that it preferred smaller block sizes, which means that transactions take a very long time to process. Currently, BTC transactions are completed in 10 minutes and Dash Coins can be sent in an average of 1.85 seconds. The quick transactions are made possible by the instant send function.
Another important difference between Dash and BTC is the transaction cost. The Dash cryptocurrency only requires you to pay a fee of $ 0.01-0.02. Bitcoin transactions, on the other hand, cost $ 1 to $ 30.
the Transaction speeds and low fees make DASH a great option for online transactions, especially those that require a high level of privacy. Bitcoin, on the other hand, is best used as a store of value.
What are the risks of investing in DASH?
Dash is a great investment, but you should still be aware of the risks of altcoin. One of Dash’s main risks is his Price volatility. Like all other cryptocurrencies, this one can rise and fall in price quickly.
Although price volatility is a huge risk with the altcoin, it is worth noting that you can make very large profits from it. Since there is a possibility that you could lose significant money trading Dash, invest only in amounts that you are ready to lose.
Is it worth trading Dash cryptocurrency?
Dash cryptocurrency offers many advantages in the Cryptocurrency community. These include the high transaction speeds, the low fees and the high level of security. Although the altcoin has suffered from some negative press in the past, it has achieved good popularity.
It hit its all-time high in December 2017 and is still a long way from reaching that price again. However, the altcoin has risen in price over the past few years and should be a great investment.
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