• the.fox

Dash Cryptocurrency – A Definitive 2019 Beginners Guide

  • Dash was created in January 2014, as a fork and updated version of Bitcoin Core

  • The Dash network is designed to be more user-friendly than Bitcoin for merchants, offers faster transaction processing, and the ability to make transactions private

  • The Dash foundation is currently active, encouraging Dash cryptocurrency adoption in Venezuela, Zimbabwe, and several developing countries

Dash Cryptocurrency in Brief

Dash is one of the most exciting but also overlooked cryoptocurrency coins on the market. Originally called Xcoin and later DarkCoin, Dash was re-branded as DASH (meaning Digital Cash) in March 2015. Dash is also a fork of Bitcoin, but differs significantly from more well-known Bitcoin forks like Bitcoin Cash and Bitcoin SV.

The Dash Cryptocurrency Story 

In 2010, the founder of Dash, Evan Duffield started to take a keen interest in Bitcoin. However, while Duffield found Bitcoin appealing, he also noticed several flaws in Bitcoin’s core transaction protocol.

In the early days of Bitcoin, transactions settled almost instantly and were fee-free. However, Duffield predicted that as adoption levels and transaction levels increased, this would no longer be possible. (And he was right.)

Initially, Duffield took his Bitcoin scalability concerns to Bitcoin’s core development team. However, no one was willing to make changes to Bitcoin’s core protocol. Duffield, therefore, decided to tweak Bitcoin Core independently, the result being the Dash network as it is known today.

Dash Network Features Vs. Bitcoin Network Features

As of 2019, Bitcoin transaction fees average $0.26 to $0,50 per transaction. Most transactions also take up to 10-minutes to settle. – Dash is very different in his respect.

  • Dash network fees usually average just $0.0005

  • Dash wallets feature an instant send feature, which allows transactions to settle almost instantly

  • While Dash fees are low, users can benefit from fees as low as $0.0002, by selecting longer processing times. (Which usually amount to a maximum of 13-minutes)

The Dash network also allows users to transact Dash anonymously via an inbuilt, ‘PrivateSend’ Dash wallet feature. When PrivateSend is used, transactions amounts are mixed and deposited into several dummy wallet addresses. This makes transactions impossible to associate with individual users.

The Dash Network is Self-Funding & More Secure

In recent years, Bitcoin has suffered significant network speed lags. Specifically, due to miners who process transactions electing to mine more profitable altcoins. Dash addresses this problem. Specifically, by making mining more democratic.

  • Dash cryptocurrency miners only receive 45% of new coins minted on the Dash network

  • 45% of remaining profits are distributed between full-time Dash masternode operators

  • 10% of remaining profits are invested into Dash network upgrades, PR, and the funding of community outreach projects

Due to the way Dash cryptocurrency mining profits are distributed, fewer miners drop support for Dash when mining other coins becomes more profitable. Moreover, it is possible to earn up to 150 DASH coins per year, simply by operating a dedicated network node. This results in superior network stability than with most other forms of cryptocurrency.

Dash Masternodes & Masternode Shares

Masternodes on the Dash network are computers which run full Dash wallets 24/7. Each is responsible for accurately processing Dash transactions. However, not just anyone can operate a masternode.

At present, Dash masternode operators are required to have 1,000 DASH staked in masternode wallets. (In order to reduce the possibility of bad actors submitting inaccurate information to the Dash blockchain.)

Staking 1,000 Dash can be prohibitive for new to market investors, However, Dash does allow users to purchase masternode shares. This way, individual Dash users can pool funds, collectively purchase a masternode, and steadily earn DASH with a view to accumulating enough coins to become full node operators themselves.

Dash & Venezuela

Cryptocuurency news platforms regularly buzz with excitement concerning new altcoin features and cryptocurrency price predictions. However, Dash has a more hands-on approach to PR.

Recent years have seen Dash play an increasingly active role addressing hyperinflation in places like Venezuela and Zimbabwe. To date, this has resulted in Dash being accepted by several retailers in the locations mentioned above, as well as skyrocketing rates of consumer interest.

Is Dash Worthy of Investment in 2019?

Dash looks set to start trading in 2019 at under $100. However, past price rallies have seen Dash prices reach as high as $1,222. Being self-funding also means that Dash development does not stall (like development does with many ICO coins), during bearish market conditions.  For this reason, Dash is definetly a top coin to consider investing in during 2019.

Disclaimer: Cryptocurrency prices are inherently volatile. Information in this article should not be considered professional financial advice. If you are looking to invest in cryptocurrency, you should do your own research and make yourself aware of potential pitfalls.