Because of the maximum anonymity of transactions, the coin, which was developed as an alternative and the main competitor to Bitcoin, has recently been increasingly used by criminals. The developers promise that soon it will be used by the whole world.
In 2017, the value of the Dash cryptocurrency increased 143 times – at the beginning of the year, the altcoin was trading at $11, and on December 21, 2017, its average market price reached a record high of $1,574. After that, the correction began, and at the moment the rate of the coin is about $50.
How and why Dash was created?
Dash cryptocurrency appeared on January 18, 2014. Initially called Xcoin, it was renamed Darkcoin 10 days after its launch, and a year later it got the name it still carries to this day – Dash. Dash literally means “rapid movement,” and is derived from the words Digital and Cash.
The creator of the coin Evan Duffield studied the Bitcoin network since 2010 and two years later, in 2012 suggested the developers of the first cryptocurrency to include the algorithm X11 Algo in the programming code of BTC to make it more anonymous. But due to conservative views, Bitcoin Foundation representatives rejected Duffield; they didn’t want to make major changes to the bitcoin blockchain.
This forced the developer to create a new coin, despite being a fan of BTC. Now Dash’s payment processing speed is much faster than the first cryptocurrency, despite the extensive use of the Segwit protocol, which was included in the new Bitcoin Core 0.16.0 software update. The average cost of a Dash commission is almost 5 times lower – $0.004 versus $2.6. The complexity of mining is also much lower, Dash mining requires less energy.
Further development of the platform
Back when the coin was called Darkcoin, the developers positioned it as an anonymous currency for payments in the Darknet. However, in 2015 it was decided to abandon the “dark” image, so it was rebranded. By August 2016, Dash had disappeared from the lists of available payment methods on most Darknet marketplaces. Thus, from a “cryptocurrency for hackers and drug dealers,” Dash has become a respectable platform with ample opportunities for use in the legal economy around the world.
The development team plans to make the coin easy to use even for those people who are far from the world of digital technology. The coin is already available to customers of financial platforms that serve more than 184 countries and support more than 30 currencies, various commodities and cryptocurrencies.
The company is actively developing the coin so that it can be used as a means of payment. In the summer of 2017, the organization began collaborating with the CoinBR platform, which is widely used in Brazil.
The Dash Foundation has awarded $350,000 to Arizona State University to accelerate development, research and education in the development of security, efficiency, speed and expansion of blockchain use.
Where can you store Dash?
The official website of the cryptocurrency has an electronic wallet, which can be downloaded to your computer. The program will need some time to synchronize, it is similar to the popular Bitcoin wallets, only with additional features, which are related to the anonymity of transactions.
A significant number of wallets have already been created by third-party developers. The most popular among users are online wallets (we recommend checking out https://mydashwall.com/). Users like online wallets for their ease of creation, use, and for the safety of funds in such wallets.
The site also has special sections “buy Dash”, “spend Dash” and “sell Dash”, which explain how to work with the coin and use it as a means of payment. Cryptocurrency is supported by most exchanges, as well as several companies that provide debit cards, and a large number of online stores, games, internet providers and other organizations.
