Dash

What is DASH?

Dash (short for Digital Cash) is a fork of Bitcoin centered around anonymity and transaction speed. It was launched as Xcoin by Evan Duffield in 2014, later named Darkcoin, and finally rebranded to Dash in 2015.

Mining & Masternodes

Dash mining works similar to other cryptocurrencies where the foundation is a blockchain with a built-in Proof-of-Work (PoW) protocol and a decentralized public ledger. Governance of Dash is done through a form of decentralized autonomous organization (DAO), in which a number of “masternodes” perform standard hosting a copy of the blockchain, relaying messages, and validating transactions on the network. They also act as shareholders, voting on proposals for improving Dash’s ecosystem. This is called a proof of service protocol, and it ensures that the masternodes are online, responding and at the correct block height.

Unique Features of Dash

The two distinctive features of Dash are InstantSend, an algorithm that allows instant transaction confirmation bypassing mining, and PrivateSend, which merges funds of multiple users together when executing a transaction in a way where they cannot be uncoupled thereafter, making it untraceable.

Unlike most cryptocurrencies, Dash uses its own hash function X11, with an average time to mine a coin four times lower than that of Bitcoin, and such implementation that makes using conventional processor or video card ideal.

Where to store Dash?

Developers of Dash want it to be as liquid and as fast as the online fiat money that is mostly used now, and they’ve already achieved a lot. Magnum Wallet allows you to easily manage your funds in Dash and exchange them instantly if you need to. Your data is kept safe in the Magnum Wallet, as no one but you has access to your private keys, and no personal information is collected in the process.

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