Dash Review: Digital Cash Bitcoin Fork For Instant Payments

Bitcoin has remained the leading cryptocurrency, but there are some solid contenders. One of those is Dash, which got its name as a short form of “digital cash”.

This was originally a fork of Bitcoin & was developed to be a simpler alternative for mass adoption. In order to reach that goal, it has built on the basics of blockchain technology and has since expanded on that by adding new features.

However, given the newer competition, is it still worth considering?

In this Dash review I will attempt to answer that. I will also analyse the long term adoption and price potential of the DASH coin.

History of Dash

Dash first appeared in 2014 and was developed by Evan Duffield. At the time he called it xCoin, and soon after the name was changed to Darkcoin. It wasn’t until March 2015 that the coin was renamed Dash, and it’s continued using that name since.

History of Dash with Xcoin, Darkcoin & Dash

The primary focus for utilization of Dash is in the transactional space, for use as a payment to merchants. Dash uses Proof-of-Work as its consensus mechanism, which means it can be mined. And of course, it can also be purchased from a large number of exchanges.

Dash was one of the first coins to successfully adopt self-governance and self-funding. It receives its development funds from the proceeds generated by the blockchain, and its governance is controlled by the owners of network master nodes. This also makes Dash one of the first successful decentralized autonomous organizations (DAOs).

Dash Basics

At its heart Dash works in a very similar manner to Bitcoin. It is completely decentralized, with no authority controlling transactions or activities on the blockchain. Everything that happens with Dash is recorded its distributed ledger, and all value transfers happen in the most transparent manner.

The Dash network is comprised of master nodes, which are servers that have their resources allocated to processing and verifying transactions on the Dash network in return for rewards of Dash fees……………….

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Author: Coinbureau
Original link: https://www.coinbureau.com/review/dash-coin/