Dash cryptocurrency was created by developers Evan Duffield and Kyle Hagan. The main distinguishing feature of Dash is the Darksend algorithm. In order to make transactions anonymous, special servers called Masternodes collect and execute several transactions at once, "mixing" them - as a result, it becomes extremely difficult to track whose coins are transferred and for whom.
Released in 2014, Dash is often referred to as the "Anonymous cryptocurrency No.1". It is one of the three coins (together with Zcash and Monero) striving to become the leader in private zero-knowledge operations.
Thanks to the mechanism of intermixing payments, Dash is the most confidential crypto currency today. Another key feature of Dash is the hashing algorithm X11. While most crypto currencies use either the Scrypt algorithm or the SHA-256 as a proof-of work, the alternative X11 allows users with less powerful equipment to compete with those who use specialized equipment for mining. X11 also consumes 30 percent less power than Scrypt, which reduces the cost of electricity in the mining process.
The mechanism behind Dash’s secrecy feature is Darksend – the transactions are first split into even parts and then are mixed in several stages, each time by a different computer which is called a “masternode”.
Operating masternodes is incentivized so it’s one of the ways one can earn Dash coins. Another option would be mining – one must know, however, that masternodes do not mine, and mining computers cannot serve as masternodes.
Dash (DASH) describes itself as digital cash that aims to offer financial freedom to everyone. Payments are fast, easy, secure, and with near-zero fees. Built to support real-life use cases, Dash aims to provide a fully-decentralized payments solution. Users can purchase goods at thousands of merchants and trade it at major exchanges and brokers around the globe.
* Forex Rating accepts no liability for any errors in the Dash Price or DASH Information. For the most recent information please visit the Dash official site.
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