DASH is the shortened version of Digital Cash and it is one of the thousands of Altcoins around, albeit a popular one. DASH is among the first 15 coins listed on coinmarketcap.com in terms of the trading volume and market capitalization. It was introduced four years ago and it also uses the blockchain to monitor transactions. In many ways, DASH is similar to Bitcoins but the major difference perhaps lies in the fact that DASH is controlled by the masternode owners while Bitcoin is controlled by a consensus. DASH prides itself as a currency that can actually be used to make purchases and the official website contains an ever-growing list of retailers that accept DASH as a medium of exchange.
Special features of DASH
DASH boasts a very strong privacy component, arguably stronger than any other cryptocurrency around. Sometimes in January, the developers challenged blockchain enthusiasts and geeks to trace a transaction and there was a $15000 reward for anyone that’s able to trace a bug in the coin’s program.
It wouldn’t be out of place to say the name ‘DASH’ was intended as a double entendre. The developers promote DASH as the choice coin for instant payments. The network is able to process 4000 transactions per second, a figure that makes Bitcoin’s 7 transactions per second seem largely inadequate.
Low transaction fees:
Another problem that users have encountered with Bitcoin is the sometimes outrageous transaction fees. DASH promises low transaction fees and the charges on using the coin to make payments or send money is considerably lower than what you would pay when you use a credit card or bank. And it is considerably less than the charges associated with Bitcoin transactions.
DASH network is quite secure and decentralized as it operates on a two-tier structure and makes use of advanced encryption. The developers pay adequate attention to the security of the network and there is an open source code that can be used to vet the platform. There are masternodes that process the transactions on the network and this further ensures the security of transactions on DASH.
DASH also enjoyed the cryptocurrency boom of the third quarter of 2017. DASH reached an ATH of $1200 in the first few days of January 2018. This represents more than 100X increase in less than 2 years. The bearish market ensured there was a considerable dip in DASH’s price in the first quarter of 2018n but it is now on the road to recovery. As at the time of writing, the coin trades at $403 on coinmarketcap.com.
With about 8 million coins in supply, DASH has a limited market supply. This is good for any virtual coin as the market forces of demand and supply are the major determinants of the price of the coin. The total supply of DASH coins would be capped at 22 million coins.
DASH is another Altcoin that holds a lot of promise and it is already one of the established virtual currencies around. The coin vests a lot of power on the developers and masternodes and it remains to be seen whether they would focus on the usage of the coin rather than its trading value. Shifting focus on the latter has been the major challenge of all promising cryptocurrencies.