How DASH Could Overcome Other Cryptocurrencies

Written by Kevin, The Bitcoin Guru
Sep 12, 2018

Dash is a fork of Bitcoin network, launched in January 2014 by Evan Duffield. A new coin can always be made by making some changes and improvement in the source code of other coins. So Dash has some features common with Bitcoin but also adds some additional things like lower transaction fees. Dash was first released in 2014 under the name of XCoin. After a month, it was renamed Darkcoin. But in March 2015, the company rebranded it to Dash. Dash is an altcoin which is moving rapidly into the mainstream. Maybe, in a few years, it will replace the other cryptocurrencies in the list and goes to another high position. 

Dash's self-funded, self-governed organizational structure, referred to as the treasury system makes it a decentralized and autonomous organization. A global network of master nodes acts as shareholders, voting monthly on proposals for improving its ecosystem. In February 2015, Dash implemented a feature called instant send. Due to this, it offers a confirmation within an average of 1.3 seconds to users who choose to pay the fee. The network’s block time is every 2.5 minutes and its mining difficulty is able to be adjusted up to every single block, using an algorithm called Dark Gravity Wave.

The network’s block reward is paid out to three separate groups: 45 percent to miners for security; 45 percent to master nodes for Instant Send and Private Send functions; with the remaining 10 percent – the treasury – equalling roughly $1 million USD worth of Dash per year, paid out to developers, marketers, auditors, and anyone else who is approved for a project. The Dash blockchain is relatively fast, developing a new node in around every 3 minutes. The reward per block is 3.60 Dash (around $730). 

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One more major feature about Dash is that it has a Bitcoin codebase, Dash is compatible with all existing merchants, exchanges and wallet software that’s previously been written for Bitcoin. The Dash DAO funds a number of organizations and projects. As of August 2018, it had granted a total of $33 million worth of Dash to developing companies. It has funded companies like Cannabis industry, Dash Core Group, Venezuela etc. It funds these types of companies so that they can develop themselves. 

Like many another cryptocurrencies, Dash is also a highly volatile asset that is used and exchanged with most of the other currencies. In 2017 it started at around $11, and in August it raised around $200 and traded volume about $30 million. The reason for the increasing popularity of Dash and the increase in the price is the hard-working team who always promoted to exchange its merchants. Dash can easily be exchanged in the market. Those users who want to buy it can easily get it with fiat. It is also easily available for holding or investing purposes. 

Dash is mined with ASIC (Application Specific Integrated Circuits) Miners. These powerful machines are hundreds of times more powerful than GPU rigs. And they’re designed to simply do one thing, mine the algorithm they’re programmed for. If a person continues to mine for a long time, he can earn a profit. 

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Dash is much more than a coin. It is an organization of people, working under a decentralized governance and funding system. It is the currency of the future. The Dash community is working well together and helping itself to make more users friendly. There are high risks in investing your money into Dash as it is highly volatile in nature. But if you know how to manage it and how much money you should invest in DASH, it can provide profits that can either be kept or spent.