Dash – A Quick Guide

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Dash (an epitome for Digital-cASH) is a decentralized, peer to peer, privacy-centric cryptocurrency. Dash was created in January 2014 by its lead Developer Evan Duffield. It was originally named Xcoin(XCO).  In February 2014, the name was changed to DarkCoin. Finally, on 25th March 2015, Darkcoin was rebranded as “DASH”. It is based on bitcoin’s core code and forked from Litecoin, which aims to add additional features of privacy and anonymity.

Why use $DASH?

Dash was the first cryptocurrency to unleash the world’s first blockchain to be self-funded with self-governed blockchain protocol. Dash boasts InstantSend and PrivateSend features in its Official wallet by which you can prioritize the speed of transactions and opt for full anonymity on the blockchain. That’s why Dash is great for real-world commerce.

Working

Dash works on self-Incentivized governance model, which consist of nodes(miners) and master nodes.

  • Masternodes are responsible for governing the self-sustenance of the dash blockchain protocol. Masternodes also maintains the InstantSend and PrivateSend features of the dash cryptocurrency. For running a masternode, the operator has to invest 1000 Dash. The masternode operator gets 45% reward for every block that is mined. While Nodes are responsible for verifying the transaction. They get 45% of the block mining rewards for each transaction verified.
  • Self Sustainable decentralized governance – masternodes are incentivized with 45% block rewards, they govern the blockchain with 1 vote per masternode. The dash blockchain is first ever blockchain to be self-funded. 10% of the each block reward is allocated to the development of the dash blockchain.
  • InstantSend: Used for instant payments through Dash’s official wallet where you can select InstantX masternode feature to prioritize your transactions to be completed within seconds. Bitcoin transactions take several minutes to confirm, also large orders can typically take an hour.
  • Private Send: Used for Anonymity through Dash’s official wallet where you can select the PrivateSend feature to send the transactions 100% anonymously on the blockchain. Bitcoin transactions can be traced back to the user.

Consensus mechanism – POW(Proof of Work)

Advantages

  • Instant payments – withing 3-4 seconds with InstantSend.
  • Anonymity on the blockchain with PrivateSend feature.
  • Self-funded and self-sustainable, unlike bitcoin which requires voluntary participation of the community.
  • Minimal Transaction fees if compared to bitcoin.
  • Good for real world day to day commerce as transactions are completed within seconds.
  • Great community
  • Partnerships and one of the most promising cryptocurrency that can go mainstream.
  • Dash has one of the strongest ongoing marketing campaigns of any cryptocurrency

Disadvantages

  • The Rich list – Dash maintains its rich list of top 100 dash transactions, which may question the anonymity on the blockchain. See here https://bitinfocharts.com/top-100-richest-dash-addresses.html
  • Have major competitions in Monero, Pivx(Ex Dash developers), and ZCash.
  • Truly Decentralized? Masternodes operators govern the blockchain, bringing in the weakness of censorship and a bit of centralization
  • Questions have been raised on the anonymity of transactions on the Dash network, as it uses masternodes to intermix transactions
  • Instamine controversy where 1.5 million out of 19,000,000 coins where instantly mined by Evan Duffield during the launch of Dash.

Major competitors

  • Bitcoin
  • Litecoin
  • Zcash
  • Monero
  • Pivx
  • Bitcoin Private

Partnerships

Canabis Industry– Alt Thirty Six is a Dash-funded project that provides a payments platform for the legal cannabis industry in the United States. The company received $496,000 in funding from Dash’s treasury. Read more here: https://www.dash.org/2017/10/15/alt36.html

Venezuala: An organization called Dash Venezuela has held 8 conferences as of 2018 in Venezuela aimed at community outreach and promotion of the cryptocurrency. It promotes Dash as a method of payment and operates a Spanish-speaking technical support centre for problems related to Dash.

Zimbabwe: KuvaCash is a Dash-funded startup that aims to offer a payment solution in Zimbabwe. The project received $550k in funding from Dash’s treasury. Read more here: https://www.dash.org/2017/11/23/KuvaCash.html

 

Markets(August 2018)

  • Rank – 14
  • Market Cap -$1,723,175,068 USD or 228,505 BTC
  • Volume (24h) – $122,698,565 USD or 16,271 BTC
  • Circulating Supply – 8,229,202 DASH
  • Max Supply-18,900,000 DASH

Where to buy $DASH?

Dash nearbyhttps://dashnearby.com/

Brokers – Coinpult,Changelly,Shapeshift,Kraken Direct,SimpleSwap,Coinswitch

Exchanges– Major Exchanges are by volume are:

  • Huobi pro (DASH/USDT, DASH/BTC, DASH/HT)
  • Exrates (DASH/BTC)
  • Lbank (DASH/BTC)
  • Bithumb (DASH/KRW)
  • BitZ (DASH/BTC)
  • Okex (DASH/USDT, DASH/BTC, DASH/ETH)
  • Binance (DASH/BTC, DASH/ETH)
  • Bitfinex (DSH/USD)
  • Yobit (DASH/BTC)
  • Coinex (DASH/BTC, DASH/USDT)
  • Poloniex (DASH/BTC)
  • Exmo (DASH/BTC, DASH/USD, DASH/BCH, DASH/RUB)
  • Livecoin (DASH/BTC)
  • Kraken (DASH/BTC, DASH/EUR)
  • Bittrex (DASH/BTC, DASH/USDT, DASH/ETH)
  • Mercatox (DASH/BTC)
  • Wex (DASH/USD)
  • Coinroom (DASH/USD, DASH/EUR)
  • Liqui (DASH/BTC, DASH/ETH, DASH/USD)
  • Coinsquare (DASH/BTC)
  • Gate.io (DASH/USDT)
  • Bitbay (DASH/PLN)
  • Braziliex (DASH/BRL)
  • LocalBitcoins (DASH/BTC)

ATMS

  • CoinATMradar
  • General Bytes
  • Lamassu
  • CoinFlip
  • TigoCTM
  • Trovemat

Where to store $DASH?

Android Wallets: Dash wallet, Coinomi, Jaxx

iOS Wallets: Jaxx

Desktop wallets:

Useful Links

 

 

 

 

 

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