You may have noticed in the last few days the price of Dash has soared to all time highs after months of maintaining a fairly stable price, at least by cryptocurrency standards. Dash is currently the 8th largest by market cap and has the 4th highest price of those top 8 at the time of writing this.
What is Dash?
Dash offers all of the features of Bitcoin however it has far more advanced capabilities, like Bitcoin it is an open source peer to peer cryptocurrency however that is pretty much where the similarities end.
Dash is digital cash and like real cash it allows users to send payments privately and instantly online or in-store, however rather than holding funds in a bank account users store coins themselves meaning they have full control over them.
Dash has a few features which make it stand out as a cryptocurrency
- InstantSend means that your transactions can be confirmed in less than a second which is about as close to actual cash as seemingly possible. This is also a lot faster than most other cryptocurrencies
- PrivateSend means your transactions are protected by keeping your history and balances private, to send transactions privately it uses an improved and extended version of the CoinJoin. To learn how this works in more detail click here
- Two Tier Network, The first tier consists of miners which carry out some of the jobs on the network and the second tier consist of masternodes which allow the to features above to be carried out as well as some other jobs. The block rewards are them split evenly between the miners and the masternodes (45% each), the remainder of the block reward goes towards funding the governance system.
- Self Governing, Self Funding Protocol, this allows anyone in the community to propose projects and ideas to the network which are then voted on by the masternodes, if your project is voted in it will then be funded by the remainder of the block reward (10%). This means Dash funds its own growth through an active community
All in all this makes Dash far more adoptable than a lot of other cryptocurrencies, it seems to have a clear focus on the project and the community are allowed a say in how the whole project grows giving everyone involved an incentive to help grown Digital Cash. It also is clear in what it does and how it works and is very technologically advanced in comparison to a lot of the coins we see at the moment.