Investments have gone crazy since the end of 2016 when the pioneer cryptocurrency-bitcoin crossed the 1000 mark. The year seemed great for cryptocurrencies as a whole. The cumulative crypto market stood at $17 billion. Since then, it has tremendously grown. Currently, the market was capped at over $100 billion despite its recent fall in prices.
People became suspicious if the thing was real and started waiting for the bubble to burst. Remember how the internet decentralized information and contents, the same is happening with money.
As you know, bitcoin is the first currency running on Blockchain. Now, it’s normal for the application to have some fundamental flaws. One such flaw with bitcoin is the lack of infrastructure for private and anonymous transactions.
These kinds of drawbacks can only be eliminated by a new breed of cryptocurrencies called anonymous cryptocurrencies. Dash, being one these cryptocurrencies is one of if not the promising alternatives to bitcoin.
What Is Dash?
Dash, unlike other crypto projects like Ethereum and Stratis, is more than a development platform. The platform advocates itself as a peer to peer decentralized electronic cash system with an intention of being liquid like normal currencies.
The dash cryptocurrency is based upon the bitcoin code with the addition of new features enabling privacy and quick transactions. Dash, just like BTC is also open sourced and has its own network, wallet and users. However, unlike bitcoin, dash’ transaction fee is negligible.
Why And When Dash Was Created
On January 18th 2014, Dash was created by developer Evan Duffield. But dash wasn’t its original name, nor it’s second. It was originally called XCoin (XCO). The name then changed to Darkcoin a month later. On March 15th 2015, it was rebranded to dash.
When Evan Duffield initially encountered bitcoin in 2010, he was impressed by its technology. He later realized that the network was slow and not fast enough. He shared his ideas of making bitcoin anonymous, but the network’s developers wouldn’t accommodate him since the core codes would need to be rewritten a fresh.
He then embarked on a mission to create a similar currency except that would solve the shortcomings of the bitcoin network. It’s this mission that led him to create the dash network.
Dash Coin Supply
The network is designed to have a supply of 18 million coins. Currently, only 7.4 million coins are in circulation. The coins are said to reach the 18 million limit in the year 2300.
Dash has a block reward system that decreases at the rate of 7.1% annually. On average, block mining takes 2.5 minutes on its network, which is four times faster than bitcoin’s.
How To Buy Dash
The easiest way to acquire the dash currency is to exchange it from Changelly. Changelly is an exchange platform where individuals can exchange various cryptos. The platform at the moment supports 55 cryptocurrencies.
All you need is; • A dash address where the dash currency would be stored • A form of cryptocurrency, Bitcoin, Litecoin or any other supported crypto that would be exchanged to dash.
Although the dash currency has some solid competitors like monero and PIVX, its solid infrastructure, flexibility and the fact that it’s ready to use sets it apart from the rest of the cryptocurrencies. It’s certainly worth your investment.
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