What is dash? Getting to know the privacy of the Dash coin and its advantages and disadvantages

Dash One of the most popular digital currencies is privacy or privacy coins in the market. As their name suggests, Priusicoins or untraceable digital currencies are those digital currencies whose transactions cannot be traced. These currencies were released in response to coins such as Bitcoin, which are not completely anonymous and can be tracked.

Of course, Dash has other great features besides its great privacy. In this article we examine that What is Dash? And what distinguishing features it has. We also check how to buy Dash wallets. Stay with us.

What is dash?

Dash One Non-persistent digital currency And Privacy oriented Or so to speak Privacy Coin Is. Dash in 2014 based on core code Bitcoin Was made. Like Bitcoin, Dash can Extraction did But dash mining is easier and its transactions are faster and cheaper and of course Anonymous Is.

Read more: What is Priusy Coin or Non-Persecutory Currency? Know the best Privacy Coins

So like Bitcoin, Dash is open source and uses blockchain technology. In the next part, we will take a look at the history of this digital currency to understand the reason and process of its development.

Dash history

The Dash project was launched on January 18, 2014 by a team led by Evan Duffield. This project was initially presented under the name of Xcoin. In February 2014, its name was changed to Darkcoin, and then on March 25, 2015, the final name Dash was chosen for it.

Evan Duffield met Bitcoin in 2010 and was impressed by its extraordinary technology; But he found that Bitcoin does not provide complete privacy and is also slow.

So, inspired by Bitcoin codes and his professional team, he developed Dash network and cryptocurrency.

The number of Dash currency units

Dash is designed so that there are only 18 million units of it. This currency, with a slight difference compared to Bitcoin, is based on mining, and after mining 18 million units, it will no longer be produced. It is predicted that the extraction of 18 million units will take until the year 2300.

Read more: What is mining or digital currency extraction?

Dash is getting harder to mine every year and its mining reward is decreasing by about 7.1% every year. Blocks on the Dash blockchain are created every 2.5 minutes, which is about 4 times faster than Bitcoin.

Read more: What is block reward? All about Block Reward

The main features of Dash

So far, we've seen that Dash has established itself as a successful cryptocurrency and has run its course smoothly for quite a long time since its launch.

4 of the main features of Dash can be known as these:

• Privacy and anonymous transactions
• Mr. Noda's innovation
• Good reception
• Being user-friendly

Privacy and anonymous transactions

This case can be considered the most obvious feature of Dash. The most obvious feature of Dash, as this digital currency is known, is its focus on privacy and the possibility of anonymous transactions.

Some people think that the transactions of all digital currencies, including Bitcoin, are anonymous; But this idea is not true. It is true that you do not need to enter any identity information to make a Bitcoin transaction, but you can track a transaction and find out from which wallet it was made. For this reason, Bitcoin transactions are called semi-anonymous.

But the case is different for currencies like Monero and Dash. Dash has an interesting innovation called Mr. Node, which we will explain in the next part. Using masternodes, users gain access to CoinJoin transactions, further enhancing anonymity.

Read more: What is Monero? All about the popularity of the popular Monero coin

Mr. Nineties

Masternodes are an interesting innovation of Dash cryptocurrency. To set up a masternode, you need to download DashCore and send 1000 DASH units to your masternode address.

With this, in addition to CoinJoin and PrivateSend transactions, you can also do InstantSend or instant sending. The meaning of instant document is that your transaction is done instantly and there is no need to wait for 2.5 minutes.

You can use this GitHub link to learn how to set up masternode.

Good reception

In a world where digital currencies have not yet reached widespread acceptance, Dash is one of the currencies that has made its way to businesses and the number of businesses that have accepted this digital currency is relatively good.

Being user-friendly

The last positive feature of Dash that we can mention is its user-friendliness. The roadmap and goals and technical features of Dash are well explained in the white paper of this project. Also, contrary to the difficulty of use that may seem from the beginning due to the nature of Dash, the use of this digital currency is as easy as other coins and tokens.

Advantages and disadvantages of Dash

In this part of the article look at Advantages and disadvantages of Dash digital currency will have.

Advantages of Dash digital currency:

• Its transactions protect users' privacy more than transparent blockchains like Bitcoin;
• Its InstantSend feature enables instant transactions and makes it a good option for purchases and businesses;
• The governance system involves its users in decision-making;
• The discretion given to users allows them to choose between public and private transactions, and there is no compulsion to use one type.

Disadvantages of Dash digital currency:

• Its masternode system has raised concerns about network centralization;
• This digital currency is not unrivalled and there are other cryptocurrencies such as Monero that can steal the competition from it;
• Its security features may attract the attention of regulators and impose restrictions on it.

How to extract Dash

Dash uses a proof-of-work algorithm or mining method for security and generating new digital currency units. Dash encryption algorithm is X11. Dash mining is possible with CPU, graphics card or special ASIC devices.

Read more: What is proof-of-work mining? All about the Proof of Work algorithm

The block production time in Dash is about 2.5 minutes, and this means the confirmation of about 56 transactions per second. Not all network rewards belong to miners. In addition to receiving rewards from mining, masternodes also receive rewards for performing a series of specific functions.

We explained earlier that master nodes are responsible for performing the following features in the Dash network:

InstantSend feature: Using this feature, users can make their transactions instantly and in less than two seconds by paying more fees.

PrivateSend feature: It provides the possibility of making transactions anonymously and without tracking.

We also said that to become a master node, you must have at least 1000 DASH units in its official wallet. Masternodes and miners each own 45% of the network reward. The remaining 10% is stored in the network treasury and goes to the developers.

buy dash

The easiest way to buy Dash is to use Iranian exchanges. Authentication in these exchanges is simply an online registration. Also, the number of these exchanges is more today than in the past, and new tokens are quickly listed in them.

With a simple search on the Internet, you will find a list of Iranian exchanges. Of course, we suggest that to choose an exchange, you must pay attention to criteria such as the credibility of the exchange, its age, the number of currency pairs, the volume of transactions, regulations, transparency and good support.

You know that authentication is mandatory in Iranian exchanges; Therefore, we suggest not to be fooled by platforms that promise to buy and trade without authentication. If you have already registered in an exchange, you can use the same. But if you haven't done it before, you need to go through this step first.

We also suggest you to use the dash purchase page of the Erzdigital website. Authentication on this page is instant and by entering information such as national code and mobile number, you will be directed directly to the payment page and you can complete your purchase.

Dash wallets

A list of The best wallets in Dash You can see them along with their download links in the table below:

Frequently asked questions