Dash recently joined the billion dollar crypto club. The cryptocurrency is focused on providing faster transactions privately to its users. It just surpassed the one billion dollar market cap by value.
Currently, the value of a single Dash coin goes at around $83. Considering last year’s bearish run, the coin has fairly managed to maintain its price.
There are a variety of factors that have fueled the growth of the Dash cryptocurrency. Its partnership with payment services and banks and listing in major crypto exchanges have worked towards Dash’ advantage.
What Is Dash
Dash is a peer to peer cryptocurrency and a form of payment. It is free from central regulations like banks and government authority and allows its users to perform transactions anonymously. Dash had its inspirations stemming from Bitcoin as a cryptocurrency. There are however some major differences with the original cryptocurrency.
As its founder Evan Duffield tries to explain, Dash is built on the same network as Bitcoin. The difference is that Dash employs a secondary network known as Masternode which is a new model in the crypto space. This feature is not available on the Bitcoin network.
While Dash has only recently captured the attention of crypto enthusiasts, in reality, the cryptocurrency has been on the ground for quite a while, having been launched as early as 2014. The renewed interest in Dash cryptocurrency has attracted crypto enthusiasts to look keenly and compare Dash with others in the market and find out the features that set it apart.
History And Why It Was Created
Evan Duffield started out like any other crypto founders-watching and studying Bitcoin. He had just discovered Bitcoin in 2010 and had been impressed by the technology. He, however, found some flaws in the flagship currency and felt it critical to address them.
One of the flaws Duffield found was in regard to Bitcoin’s speeds. Duffield found that verifying transactions took long and as a result slowed down transaction times and resulted in user frustrations. Duffield also felt there was a need to increase privacy levels on the network.
He consequently embarked on a mission to create an altcoin that would address the problems experienced in the Bitcoin network. Although the currency used the Bitcoin code, Dash would have different features that would make it more private..
Dash Rebranding And The Future
Today, there are about 7.5 million Dash coins in circulation. This number is expected to increase to 18 million by 2300.
One of Dash major changes is the transformation from Darkcoin to Dash. There were concerns that Darkcoin was associated with illegal activities and wasn’t the intention of the project. Dash is a shortened name of digital cash and is a reflection of Duffield’s original vision.