Dash

Dash is another of the cryptocurrencies that will have to talk during the next year 2018 and successive, we explain that it is Dashand everything related to this cryptocurrency.

Glossary of the content of the article:

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What is Dash?

Dash is another decentralized digital money alternative.

It is a criptodivisa of such peer-to-peer open source offering features similar to Bitcoinbut with some more advanced features, such as instant transactions “InstantSend” private transactions “PrivateSend”.

It should be noted that Dash is the first decentralized autonomous organization , and that it uses two levels in its architecture to boost the network.

On the one hand we have the first level with the miners who are responsible for securing the network and where transactions are recorded in the blockchain , and on the other hand we have the second level consisting of ” Masternodes ” which make it possible for the cryptocurrency Dash to enjoy features advanced, how we already commented.

Read our full article on how we can mine cryptocurrencies

What is the story of Dash?

Dash first emerged in January 2014, started calling itself XCoin using the XCO code, a month later it was called Daskcoin but it did not convince because the third month, in March, was changed to the name of Dash, which is how we know today the cryptocurrency.

Just a couple of days since the launch , 1.9 million crypto currencies were mined . Although Dash emerged at a time of many scams managed to survive, and today is one of the most active altcoins.

What products does Dash include?

So that you can learn more about cryptocurrency and understand how Dash works, let’s see a summary of its products: PrivateSend, InstantSend and Masternodes .

PrivateSend

It is a service based on CoinJoin that mixes coins with multiple modifications.

They include the use of masternodes instead of a single website, chained in a mixture of masternodes and restricting the mixture in question so that only certain denominations are accepted in passive mode.

The maximum amount that is allowed for a transaction with PrivateSend is 1000 DASH.

The repetitions made later use the advanced method in the user’s portfolio to pre-mix the denominations. With the implementation of privateSent, masternodes are allowed to send transactions using a special network code called DSTX , to obtain greater privacy among users.

The identical inputs of the transactions make it impossible to trace them directly, therefore PrivateSend makes Dash fungible, since mixing coins of the same denomination in other portfolios ensures that they are all of the same denomination.

InstantSend

It is a service that allows transactions to be carried out almost instantaneously .

With this system the inputs are blocked for a specific transaction and verified by the network of Masternodes, who are responsible for transmitting the transaction to the network and avoid the problem of double spending.

Unlike transactions in Bitcoin with Dash the process will not take you that long.

Masternodes

On the other hand we have to talk about the masternodes.

As we mentioned at the beginning, Dash uses a two-level network, unlike other cryptocurrencies where the work of the network is done only by the miners.

In this case we have network functions such as the creation of new blocks, which are what the miners are responsible for, and on the other we have another level of network with the masternodes, which are responsible for performing functions of PrivateSend, InstantSend and also governance.

As we said at the beginning, Dash is the first decentralized autonomous organization that is driven by a system of decentralized governance and financing that is Sybil-proof.

Read our article on how to buy, sell or transfer Dashcoin

Dash real-time quote

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