You may know Dash as a cryptocurrency that has been around since 2017. In fact, Dash is one of the oldest digital coins, launching under its original name, “Xcoin,” in 2014. The privacy-focused cryptocurrency then rebranded itself as “Darkcoin” before settling on “Dash” in 2017.
According to its whitepaper: “Dash is the first privacy-centric cryptocurrency based on the work of Satoshi Nakamoto.” Essentially, Dash took what Bitcoin was doing and tried to make it better, quicker, and more private. One of the longest-standing digital coins, many traders buy Dash as a crypto investment.
"Move Dash in a Second for Less than a Cent."
Dash was born as a fork of Litecoin, which itself broke away from Bitcoin. All three cryptocurrencies share the common theme of decentralized finance built on blockchain technology. Bitcoin may be the grandfather of cryptocurrency, yet many of its key features have been done better by the crypto grandchildren that have come since. Its market cap value (an eye-popping $1.3 billion) and titan position in the cryptocurrency markets have a lot to thank for simply getting there first. Bitcoin remains plagued by slow transaction speeds, scalability issues, and a carbon footprint the size of Argentina.
Dash built on the weaknesses in the Bitcoin technology: scalability, fungibility, speed. Essentially, Dash broke away from the Bitcoin mold and created a digital finance platform that would be easier to expand, harder to trace, and faster to send. “PrivateSend” is one of the vital Dash features. Through the PrivateSend system, tokens are swapped between users to make them untraceable and add security to the network. Where Dash stands apart in the cryptocurrency sphere is with usability. Dash is renowned for its lightning-fast transaction and mining speeds. The average mining speed on Dash is four times faster than that of Bitcoin (2.5 minutes per block versus 10.) Unlike the “digital gold” Bitcoin, Dash has the potential to be a viable alternative to fiat currency. Think of Dash as a crypto version of PayPal which you can use like a credit card or debit card. Dash aims to be the go-to payment method for daily transactions and claims you can “Move Dash in a second for less than a cent.”.
Dash It – How Does Dash do it?
The main difference between Dash and Bitcoin is in the algorithm they use for mining. Dash uses a “proof-of-stake” (PoS) system (the X11 algorithm) as a reward incentive for users on the blockchain to mine new coins. Bitcoin uses a “proof-of-work” (PoW) algorithm. In a PoS system, the more coins you have, the more you can mine. With the PoW approach, the reward is proportional to the effort. The more you mine, the more coins you get. This fundamental difference makes Dash much more eco-friendly than Bitcoin. Many critics believe Bitcoin’s PoW method is responsible for the cryptocurrency’s colossal environmental footprint.
To understand Dash, you need to know these terms:
A unique Dash feature for handling transactions. MasterNodes are the subset of Dash users who verify and validate the financial transactions on the blockchain. The MasterNodes system uses a powerful network of servers to run the blockchain. Each Masternode user starts with a work incentive of 1,000 Dash, and they are rewarded with a 45% stake in each new block mined.
Formerly known as “DarkSend,” this feature allows Dash users to make almost instantaneous transactions. If you pay a small additional fee, you can ensure your Dash is transferred in under two seconds.
This feature adds a layer of privacy and security to your assets. CoinJoin shuffles your Dash with other users. In every transaction, your Dash coins are automatically mixed with at least two other users’ addresses – yet the value of your Dash never leaves your wallet.
Dash recently upgraded its platform to include “ChainLocks.” This new feature prevents 51% of attacks on the blockchain and has caused a buzz in the cryptocurrency community. The process is complicated, but it involves a series of “ChainLock Signatures” to ensure that only authorized blocks are mined. In other cryptocurrency platforms, blocks cannot be added to the blockchain until a certain number of “confirmations.” The ChainLock protocol avoids this time-consuming process by using signatures of at least 60% of key users.
What Is The Future Of Dash?
Unfortunately, nobody has a crystal ball when it comes to predicting future trading prices across any of the markets. Cryptocurrency is particularly difficult to gauge because it’s such a new marketplace and there is a lot of volatility. While these young companies could disappear altogether over the coming years, they could also establish themselves and obtain mass adoption from the public. In the latter instance, the price of Dash and other cryptocurrencies would go through the roof. It isn’t a complete gamble, however. While anything could happen, most cryptocurrency pundits are optimistic about Dash’s future. Dash has a useful and powerful technological contribution in its own right, and it is less dependent on Bitcoin than most of its rivals.
Dash has a clear future and a roadmap to get there. The company itself isn’t the only reason authorities in the cryptocurrency space have such faith in Dash. Its historical price charts point to an upward trajectory over the next few years and beyond. Dash’s current price level is hovering around $140 per coin. Looking ahead into 2022 and 2023, Dash looks set to surpass its all-time high if a new bull market kicks in. In any case, a lot can change between now and then. It’s impossible to predict but the signs (and profit margins) are looking ripe for Dash.
How Do You Buy Dash?
If you’re interested in buying Dash, there are several options available to you. The easiest way to profit from Dash’s success is simply to buy DASH coins. You can buy DASH from a whole host of cryptocurrency exchanges, trading platforms, and brokerages. When you have purchased your DASH, the safest thing to do is store your coins in a Dash Wallet. To be extra safe, you can keep your tokens in a “hardware wallet” (on a USB stick) to prevent hackers from gaining access to it. If you are planning on day trading or keeping only using a small amount of money, then the security offered by most crypto exchanges and trading platforms should be sufficient.
Buying Dash outright isn’t the only way to invest in it. You can also place derivative bets such as CFDs. CFDs (“contract for differences”) are now an option on most comprehensive trading platforms. They allow you to leverage more money on your bets which then increases your potential profits.
Where Can I Buy Dash?
It is become increasingly easy to buy DASH, as more trading platforms open up. There are few things to look for, however, when choosing your online brokerage. First and foremost, make sure they have a good reputation and are regulated. The plain and simple truth is some platforms may make it very difficult, if not impossible, to retrieve your money. Next, you want to check their rates are competitive, especially if you are looking to make regular trades. The features and functionality of the site are essential. Make sure they have market analysis tools, such as market indicators, and a means of tracking your spending, profits and losses. Good technical and customer support is also essential. The list goes on and on, but these are among the most important factors. We can strongly recommend our online trading platform, TradeOr, which ticks all these boxes and more.
Dash has filled a clear need in the cryptocurrency marketplace. It still fulfils much of Bitcoin’s vision but with greatly increased speeds. The future of Dash looks very bright. Although cryptocurrency is a particularly difficult market to make forecasts on, its potential returns may make this a tempting investment opportunity. If you do wish to trade DASH, then “TradeOr” is an excellent option. At TradeOr, we have built a positive reputation and relationship with our users. Our rates are highly competitive. You can buy DASH and set up a CFD to leverage more money on your trade. We have a range of market analysis tools for you to use, spending tracking, a fantastic support team, and even virtual money accounts to practice trading without any risk.