Dash Review

When it comes to cryptocurrencies, there are a few names that stand out, such as Bitcoin, Ethereum and Ripple. However, Dash is one of the lesser-known cryptocurencies.

For those new to Dash, the currency’s objective is to serve as a user-friendly and scalable payment platform. While based on Bitcoin, it offers customization and improvement that the original cryptocurrency doesn’t. Currently, its value rests at $164.79 and $173.74 million (total value).

Features

Dash offers a slew of features which makes it a much more reliable than Bitcoin. Its many features and advantages make a strong case to switch from Bitcoin for making payments.

Some of the main benefits of Dash include instant confirmation for transactions; this can be a real pain when dealing in Bitcoin as transaction confirmations are slow and depending on how occupied the Blockchain is at a point in time, it can take much longer.

Dash also offers anonymity that is comparable to actual, physical cash. It’s a self-governing and self-funding model and features on-chain scaling involving blocks as large as 400 MB.

Now you may be curious about the self-governing self-funding part.

The former is achieved by giving a select group of people the reins to master nodes. These nodes vote on any decisions being made for the Dash Blockchain. Hence, the Blockchain decides for itself what to implement and what to not.

The latter, self-funding, is achievable through reinvesting block reward. The block reward generated is split into three parts. 45% of it goes to the miner and 45% to the masternode, while 10% always goes towards the development of the Dash Blockchain.

Masternodes

Now you might be thinking that the existence of masternodes means that power is concentrated in the hands of a few. That’s not entirely true. While masternodes have more power on a Dash network than normal users, masternode users can choose to operate them, they aren’t chosen or selected.

Masternodes enable key functions of the Dash Blockchain, such as InstantSend, the instant transaction confirmation feature of Dash, and PrivateSend, the feature enabling anonymity on Dash. Masternode users are then rewarded for their service with 45% of each block mined.

Dash Evolution

Dash Evolution is a project that is built on the cryptocurrency to help it evolve into much more than a money transfer system. The creators of Dash strive to pioneer a decentralized file sharing system, a decentralized API for third-party users to access the network without security concerns and elements of a social network.