There is a real rush of Dash in the cryptocurrency community, to which only a year ago a few people paid attention, it is rapidly growing in price and is gaining more and more popularity. When did this coin appear, how is it different from bitcoin and other cryptocurrencies? How do experts evaluate Dash prospects and is it worth investing in it? Let’s try to figure it out.
When and why did Dash appear?
At first, the enthusiast programmer decided to just fix the bitcoin flaws, and then swung at the creation of the main competitor of the most popular cryptocurrency.
Like many others, Evan did not like the fact that transactions in Bitcoin are not completely anonymous and are processed very slowly, network performance is low and the level of protection against cyber attacks clearly leaves much to be desired.
Using Bitcoin source code, Duffield created his own cryptocurrency – Dash. He beat the English word “dash” (“swift”) and the combination “dark cash” (“dark money”). Partly because of this play on words, many people call dash a dark horse and they seriously believe that it is able to pick up a bitcoin.
How is Dash different from other cryptocurrencies?
First of all, Dash is a system with 2 architecture. If other cryptocurrencies use only the basic level (for example, the BlockChain chain) the Dash has second “floor” – MasterNodes (masternody).
Masternods are key network nodes that are responsible for performing additional functions. If miners reveal new blocks, users connected to masternods provide anonymity of transactions. For this, the PrivateSend technology is used, during which random masternods randomly shuffle coins and “break” the connection between information about users and their payments.
It is noteworthy that the master codes are not controlled by a single center. The community of volunteers scattered around the world is responsible for their work. In principle, any user can connect to the master node. However, for this you need to become a member of the community and have at least 1000 DASH on your account. Such measures are introduced in order to reduce the likelihood of intruders connecting to the system.
Interestingly, when opening a new block, miners get 45% of the mined coins, another 45% get the “money” of the mastode, and the remaining 10% go to the reserve fund of Dash Core DAO. Thus, the company always has the means to implement new projects, and regular withdrawal of coins prevents their oversupply in the system.
Another innovation of Duffield is its own X11 mining protocol. This is a unique block hashing system consisting of 11 algorithms (for comparison, Bitcoin and most other networks use only 1 algorithm). The main advantage of X11 is a high level of system security. The collapse of the network is possible only with the simultaneous breaking of all algorithms, which seems unlikely. Another nice bonus is that due to the use of X11, mining consumes in two times more electricity than the bitcoin mining.
The next difference is the advantage – instant confirmation of transactions. Due to the high network performance and use of the unique technology of InstantX, all transactions are instantaneous. If the Bitcoin network needs to wait for confirmation from miners for a long time, then in Dash any random masternote can confirm the operation. You have to wait a couple of hours or even days in the first case, in the second – just a few seconds.
Dash features a high level of decentralization. Key decisions on the development of the network are made not by one person, but by all participants via online voting. Anyone who has submitted 5 DASH to the general fund can vote on their own project related to the operation of the system. Other participants can make counter offers, and the final decision is made after the counting of votes. This approach makes management faster and more efficient. We all remember how long and dreary Bitcoin tried to increase the block size from 1 to 2 MB. A similar decision was discussed and adopted during the day in Dash.
Thus, compared to other cryptocurrencies, Dash is more anonymous and protected. The network is highly efficient, and system management is truly decentralized. It is not surprising that more and more users are buying Dash in large quantities.
It is worth paying attention to the fact that all the described methods by default involve the purchase of Dash for Bitcoins. Changing BTC to DASH, you do not pay extra commission.
You can buy Dash and for ordinary money. However, in this case you will have to pay a commission of 1% (not counting the internal commission of the exchange or exchanger).
How does the mining Dash?
The easiest way is to mine the cryptocurrency on the central processor (CPU mining) or on graphics cards (GPU mining). To do this, you will need to purchase equipment, install a special miner program and enter settings for coin mining.
Intel provides equipment for CPU mining and Radeon and Nvidia video cards are best suited for mining GPU mining. Among the miner’s programs, ccMiner and sgMiner for mining on video cards, as well as CPUminer, Minerd and Xcoin miner, deserve special attention if processor power is used.
However, ASIC mining gives much better results. If the processor (for example, the popular among the miners Intel Core i5 4670k) has a power of 0.5 MH / s, and the first-class video card from Nvidia is 2.5 MH / s, then a good asic gives out all 900 MH / s.
ASIC from Baikal, Pinidea and iBeLink showed themselves very well. However, high-quality equipment for single mining is expensive, so many miners are combined into pools and get coins together. LTCRabbit, Nicehash and HashPower are among the most reliable pools for DASH mining.
If you do not want to buy equipment, you can simply rent it. For example, enter into a contract for the rental of facilities with Coinotron, Genesis Mining, HashFlare or another similar company.
As we have said, mining dash is much more economical than the same bitcoin. However, it is advisable to immediately figure out how quickly and to what extent the investment in mining will pay off. You can accurately calculate the profitability on a special online calculator – for example, on red miner.com/dash/.
Where to store Dash?
Please note only the original wallet Dash Core Wallet supports all the functionality of the platform. The anonymous transaction (Privat Send) and Instant Payment (InstantX) functions do not work on other wallets.
How did the price of Dash change and what will happen next?
The value of the just-issued coin was slightly less than $ 3 in 2015, but already in the first month it grew more than tripled and reached $ 10. Dash was given $ 100 a year later, in another six months – twice as much.
The course suddenly jumped to $ 450 in the spring of 2017. Experts associate a sharp jump with the system software update, thanks to which the network performance has increased even more. Many users, tired of the slow processing of transactions in the Bitcoin network, drew attention to the smart Dash and began to intensively buy a new cryptocurrency, thereby increasing its value.
The cryptocurrency experienced another leap in the course in November 21 of this year – the market price of desh reached $ 500. It went up to $ 770 in December 1! Experts estimate that during this period, the daily increase in the value of desh was about 20% – at the moment it is a record figure among the top cryptocurrencies.
The recent increase in the cost of desh is due to the widespread cryptocurrency. For example, it has already been added to the Chinese stock exchange OKEx – a large trading platform focused on the international market. In addition, Dash Core DAO has established partnerships with TenX and received debit cards that support DASH. The company is seriously engaged in the expansion of cryptocurrency applications and states that Dash is not just another cryptocurrency, but “new digital cash”.
These figures suggest that Dash is a successful, long-running and promising project. Experts believe that if the planned trends will continue, in 2018, the value of desh will just exceed the $ 1,000 mark. And subject to abundant investment and further expansion of areas of application, the price can go up to $ 2,000.
Is it worth investing in Dash?
Many of them even call the dark horse Dash one of the most promising modern cryptocurrencies. They talk about five factors that give reason to believe in the long-term growth of the coin.
Traders complained about the lack of anonymity of Bitcoin – in Dash, information about users is in no way connected with their payments. They called for a low bitcoin performance – the already fast Dash network was sped up even more. Were indignant because of the frequent double debit – in Dash it is impossible due to the use of technology InstantX. Bitcoin once again raised the internal commission – at Dash it was lowered, and in some places it was removed altogether.
Due to successful management decisions, the popularity of Dash is constantly growing, and with it the price of a coin rises. Experts estimate that investors who bought dash in 2015 today received 6,000% profit. Who knows, maybe in two years this figure will be even more impressive.