This Dash Review, aims to teach you the fundamentals of this particular cryptocurrency. If you’re interested in the crypto world, learning more about each digital currency is of crucial importance. We have already written about a few other cryptocurrencies too, such as Bitcoin, Ethereum, Litecoin and the notorious OneCoin. Check out the articles by clicking on the links!
If you’re new to the cryptocurrency world, you need to understand how the whole network works. Bitcoin, Ethereum, Dash and every other cryptocurrency works on blockchain technology. In order to understand any crypto, you first need to familiarize yourself with their core system. Click the following link to read our article explaining what the blockchain technology is. This is going to help you with the rest of the article. But, if you already know the concept of blockchain technology, check out what you can read in this Dash Review:
Dash has always been a strong contender on the cryptocurrency market and it has a pretty decent price compared to other crypto coins. Of course, Bitcoin is the most valuable one, but Dash is at the top of the list too. If you would rather choose the clear winner in terms of value, there are a few Bitcoin investment opportunities that you should know about. Optioment is a Bitcoin investment fund that allows you to earn a weekly interest on your deposited Bitcoins. You really don’t have to do anything to get paid on a week-to-week basis. If you want to learn more about Optioment, check out our Optioment review or head straight to the official website and create your own account!
What is Dash
Dash is an open source peer-to-peer cryptocurrency that is actually a fork of the Bitcoin network. It was created using the core Bitcoin client, with a few alterations. It’s argued whether it’s a fork of Bitcoin or Litecoin, but Dash works just like the other cryptos.
Dash follows a hybrid proof of work (node) and proof of service (masternode) model. The Dash blockchain uses two types of computers; nodes and masternodes. The nodes are computers that are mining for the new coins, while masternodes are used for specialized transactions.
The Dash network has a couple of additional features; InstantSend and PrivateSend. Masternodes are in charge of executing these special transactions. These masternodes also perform governance functions and they care for the health and the future of the Dash network. Anybody can voluntarily choose to operate a masternode, but it requires 1,000 Dash as collateral.
The history of Dash
Dash was released on January 18, 2014 under the XCoin name by Evan Duffield. A month later, the name was changed to Darkcoin. In March of 2015, the cryptocurrency’s name was changed once again to the now world famous Dash.
There was a bug at the launch of the network and nearly 10% of the total supply was mined within the first two days. The bug was fixed shortly afterwards, but the coins were already transferred. Evan, the founder of Dash proposed to restart the network, but his proposal was rejected by the community. The 10% that was initially mined was sold on the exchange market for a very low price over the next couple of months.
Differences between Dash and Bitcoin
The Dash and the Bitcoin network are very similar, as Dash is technically a Bitcoin fork. However, Dash does have a few upgrades or added functions to its repertoire of services. The main difference that you can expect from Dash are masternodes. While regular nodes (computers) maintain the blockchain and mine new coins, masternodes are responsible for doing the added functions that Dash has. In the following section, you can learn more about exactly what these functions are. There are two extra services that Dash has:
- PrivateSend – this is a function that adds an additional layer of privacy to Dash transactions. PrivateSend is a coin-mixing service done by masternodes. Currently, the maximum amount that can be transferred through PrivateSend is 1,000 Dash. This function makes the transactions harder to trace, so Dash users can truly stay anonymous.
- InstantSend – this service allows Dash users to send payments almost instantaneously through masternodes. The use of these specialized nodes speeds up the process by tenfold and payment can be sent and received within seconds.
Should I invest into Dash?
With so many cryptocurrencies available in the finance world, it is often hard to decide whether a crypto is worth investing into or not. Thankfully, there are reviews and other online articles that help you with making that crucial decision.
Millions of people find Dash to be very promising investment-wise, especially since its recent price increase. Not only does Dash have a few added functions when compared to other cryptos, but it also has a decent price right now. Of course, this price can go down, just as easily as it went up. Nobody knows what the price chart is going to look like in a month; we can only speculate.
As it stands, Dash is showing a very promising increase in its price. This means that if it continues on this path, it could be worth thousands of dollars in the nearby future. If you want to start trading Dash, we recommend checking out Bitpanda (Coinimal), a crypto trader website. They work with Dash, Ethereum, Litecoin and Bitcoin of course. You can buy or sell any of the above mentioned cryptocurrencies in one secure place, without having to worry about anything. If you are interested in trading cryptos, be sure to visit the Bitpanda official website.
With the crypto world expanding each day, we need to keep ourselves informed on the latest news. Cryptocurrencies are not only interesting from a technical standpoint; they can also be a good financial opportunity. Crypto coins can be used on various websites, for different services. eToro is a great example of a website that works with cryptocurrencies. eToro is an online forex broker and a social trading network where people share their investments. It’s a very interesting concept and it’s beginner friendly too. If you’re interested, check out eToro now!
If you take a look at the price chart of Bitcoin, Dash, Ethereum or any other top cryptocurrency, you will see a pattern. Even though their price falls behind once in a while, it always goes higher in the end. And the more you know about the crypto world, the easier it is to make a beneficial financial decision. This is exactly why we have composed this article; to teach you about Dash and its benefits for you.
If you liked this Dash review, you might want to check out some of our other related articles too: