Dash is a cryptocurrency with the maximal shift to anonymity and transaction speed. The name of Dash is an abbreviation Digital Cash. Before the rebranding into Dash, it was called XCoin and also the first one Darkcoin.
So, in the Dash network, there are full nodes with cash collateral. These are the usual full nodes of the network, but they are associated with the address where the thousand DASH is located, as security. And this address actually acts as their identifier in the network. Based on this feature, we can realize interesting things. We can check the identifiers of all these nodes through the blockchain, the pledges of which are assigned to specific network nodes. So, it becomes possible to create, for example, a secure communication network with a voting system.
Who and why Created Dash?
Unlike Bitcoin which is not really private and safe enough, the creator of Dash, David Duffield had an idea to use the Bitcoin core code and create his own cryptocurrency. Darkcoin (the initial name of Dash) was created in February, 2014. Now Dash is now the number 13 cryptocurrency by market capitalization.
Features of Dash:
- Anonymous transactions (it is almost impossible to track the sender and recipient);
- Built-in protocol mixer;
- Master nodes;
- Different cryptographic algorithms used simultaneously;
By all means, the main feature of Dash is the PrivateSend mechanism, which is a protocol-level mixer built-in. Moreover, the payment is divided in advance, even before the transaction is sent online. That gives a possibility to maintain the exchange of Dash by cleaning network history.
The PrivateSend system can be used not only to split the transactions but also to combine their shares.
Have you ever heard of Masternodes, actually? These are special “partially centralized” nodes that form an internal subnet for mixing. They are created by a community of volunteers who receive a commission for internal transactions. Mixing the master nodes, which sends the transaction, are randomly selected.
The network uses not only anonymously, but also in a quite ordinary way which is called InstantSend. InstantSend stands for "Standard transactions", which have a high speed of implementation at the same time. Transactions sent through the InstantSend protocol have blocked inputs, so it is simply impossible to connect to them for mixing. Even more, if a payment tries to do it, it will be rejected.
InstantSend uses an additional instant algorithm for conducting transactions. It allows Dash to transfer money instantly, without waiting for confirmation and inclusion of payment data in the blockchain.
Blocks in the blockchain of Dash are hashed using a special X11 cryptographic mechanism, which consists of X11 different hashing algorithms that can be executed in parallel, sequentially, asynchronously, in whole or in parts. Because of this, the ASIC miners are not very effective for the Dash mining, it is better to use a conventional processor or video card.
Dash is one of the most prominent cryptocurrencies with the high speed InstantSend transactions performance, high anonymity level, built-in mixer and recalculation of the complexity of mining after each block.
DASH coin is one of the major cryptocurrencies nowadays. Plenty of companies accept is as a payment means. Merchants and buyers use DASH as it's fast and has low fees. You can get a ticket to a plane, rent a car, buy food, invest, or you can exchange DASH to the other cryptocurrencies.
Keeping your Dash
To store and keep your Dash, you definitely need a Wallet. For example, the new super-easy to use Atomic Wallet. With user-friendly Atomic Wallet interface, you can manage Dash and it will be pretty easy. Atomic Wallet is a closed system meaning that all your private keys and data have not a little chance for leaving your device. This wallet is decentralized for both tracking and managing Dash it possibly will be one of the best solutions. There is a special convenient Dash Wallet with built an exchange. And also here just you can control all of your funds. The Wallet works only with nodes, block explorers and certificated APIs.