Dash is a cryptocurrency that was launched in 2014 to offer an improved version of the Bitcoin network. The cryptocurrency allows users to perform faster and cheaper transactions while maintaining complete anonymity. It also offers users a more convenient user experience.

The project was first launched with the name XCoin before rebranding as Darkcoin, after a bug in the previous software was used to mine nearly 2 million coins in barely 24 hours. Darkcoin was later changed to Dash on March 25, 2015. Dash stands for Digital Cash.

What is DASH crypto used for?

The goal behind the DASH coin is to be digital cash hence its name. Cryptocurrencies are rarely ever used for everyday transactions but Dash aims to be a scalable digital currency.

Dash has a maximum supply of 18.9 million and the current circulating supply is over 10 million Dash. Dash can also be used to make payments to retailers through its mobile app, DashDirect.

What makes Dash unique?

Perhaps the most unique feature of the dash crypto is its use of a masternodes system in its network. Masternodes are special computer nodes that differ from regular nodes in terms of their role in the blockchain network. Masternodes have a complete copy of the blockchain ledger they manage. These nodes are special servers that operate based on collateral, which means that each node is required to own a specific amount of the crypto.

Dash masternodes require a minimum of a thousand DASH. masternodes can operate several features on the Dash blockchain including InstantSend, a feature that allows users to instantly send payments. Another feature available to masternodes is Coinjoin. This feature allows users to perform a series of transactions that are more difficult to trace. As a reward for running the masternodes, users are given a guaranteed percentage of the Dash created from mining.

Another unique feature of DASH is how easy to use and understandable the Dash ecosystem is. It allows people who are not familiar with crypto to easily grasp the basic concepts of the industry. Dash is also one of the most commercially accepted cryptocurrencies.

How Dash works

The Dash blockchain network operates a two-tier structure. The first tier is based on the Bitcoin technology; it uses a proof of work system to add new blocks to the Dash blockchain. These blocks are added by miners. Miners are tasked with securing the blockchain by solving complex algorithms, each solved algorithm adds a block to the chain.

The second tier of the Dash network is run by masternodes. This tier improves the efficiency of the Dash blockchain by offering quicker and more secure transactions. Users with up to a thousand DASH can become masternodes. Masternodes are tasked with storing a full copy of the Dash blockchain ledger, facilitating instant and anonymous transactions through InstantSend and Coinjoin, and rejecting blocks that were not properly formed.

Unlike the Bitcoin network that rewards its miners with 100% of the block reward, the reward created from mining a new block on the dash blockchain is divided between the miners, masternodes, and Dash governance budget. The miners and masternodes take 45% each and the remaining 10% goes to the Dash governance budget. Masternodes also have the power to vote on how to spend the 10% allocated to the Dash governance budget.

What are the risks of Dash?

These are the most notable risks involved in Dash:

• High volatility: the price of the Dash coin tends to fluctuate multiple times in a day, in some cases, the price may rise or fall by an astounding 10%, this creates a huge risk when investing in DASH but also offers the chance for high returns.
• Like most other cryptocurrencies, DASH was created to be a mode of payment. However, due to its constant price fluctuations, it has become more of an investment than a currency. The price changes have caused many people to hold on to their DASH coins instead of spending them because they hope that the price will increase with time. To achieve its goal of becoming a recognized digital currency, Dash will need to maintain a more stable price.
• Dash was accused of being a scam in the early days of the cryptocurrency's creation. A bug in the original software allowed nearly 2 million Dash to be mined in less than a day. This caused some members of the crypto community to accuse the crypto team of scamming the public.

Who created Dash?

Dash crypto was created by Evan Duffield in 2014. Duffield is a software developer who is well known in the technology industry, having started his career at the young age of 20. He has been in the industry for and in those years he has managed to achieve quite a lot.

Aside from Dash, Duffield also created the x11 algorithm, a hashing algorithm used to mine crypto more securely. In 2010, Duffield entered the crypto space. He was captivated by bitcoin and decided to create an improved cryptocurrency that was based on bitcoin technology, which led to the creation of Dash.

How to swap Dash?

You can swap dash on any cryptocurrency exchange that lists the coin. Dash offers an average transaction time of 1.85 seconds. JansWap lists DASH so you can buy, sell, and swap the coin on our platform with ease. For example, if you want to exchange some of your Bitcoin holdings for DASH, follow the steps below for a seamless conversion experience.

• Visit JansWap.com
• Select the BTC to DASH exchange pair.
• Enter the amount of BTC to be exchanged.
• Compare the exchange rates and select the best.
• Click the Exchange button to proceed.
• Enter wallet address to receive DASH.
• Send BTC to the generated BTC address.
• Processing will take some moments and then the exchange will be completed.
• Kindly rate and leave a review for JansWap after your transaction has been completed.