Today everyone knows that cryptocurrencies are a popular investment opportunity. Dash is among the most famous ones with its reputation and growth. Founded on the Bitcoin project, Dash cryptocurrency is based on a decentralized network, the main purpose of which is to allow cheap and easy flow of currency. If you are interested in Dash coin, read this guide, and you will learn everything you need to know about it.
The main goal of every cryptocurrency is to serve as an easy and fast online payment platform helping people avoid the problems of the traditional financial system. And here Dash is not an exception. Launched on the Bitcoin project, Dash has many specific features common with Bitcoin, such as decentralization and security of cryptography.
However, it has many remarkable differences, and speed is the most vivid example in this case. To get more people interested in Dash, Dash developers expanded their strategy and took more serious measures to encourage more businesses.
Special Features of Dash Coin
One of the best perks of Dash is its InstantSend which is designed for immediate transaction confirmation. A delayed transaction for other currencies is mainly due to several blocks that consume time before the transaction is verified. Each block is known as a confirmation, and the transaction takes longer if more confirmations are required. In general, cryptocurrency transactions last up to an hour.
Yet, Dash network can boast with its “masternodes” that provide a second layer of support and ensure the preparation process for all transactions. The authenticity of funds is verified by masternodes being locked down in order not to let these funds be spent again before the current transaction is confirmed.
Thanks to these powerful masternodes, the transaction time is reduced, and Dash network stays at its height. (You can read more about Alligat0r crypto exchange aggregator and find new exchange pairs and leading cryptocurrencies)
How To Mine and Purchase Dash Coin?
Those who want to invest in cryptocurrency, know that coins, including Dash, can be obtained through a specific process which is named mining. In mining, individual users use computers to tackle hard and complicated math problems.
When a problem is solved successfully, a new block of Dash is added to the blockchain. The mining process is called Proof of Work, and X11, a hashing algorithm, defines the math problems. The latter was designed to lessen the power and allow a fair distribution of the currency. To decrease costs and time, some miners take part in mining pools working together to solve the problems and get more Dash.
Dash coins are available on trading platforms, and to purchase them, you need a wallet. It is another advantage of Dash that it is compatible with many wallets of different types.
|Dash Paper Wallet
Sometimes people find that it is not advantageous to possess the same cryptocurrency any longer. It can be because of several reasons such as changes in the market, interest in the new ones, etc. If you want to stop having Dash coins, you are free to make a conversion. For instance, swap Dash to BTC or covert it to ETH. It is advisable to read about the exchange process before you make a conversion. The more you gain information, the more secure is your exchange.