Dash (DASH) is an open sourced, privacy-centric digital currency with instant transactions. In many ways, it is like Bitcoin, but it has some enhancements which appeal to those who value privacy and the ability to send small amounts of dash instantly. Dash also splits mining reward between miners, participants that hold a certain amount of dash, and a development fund.
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Dash is a privacy coin which focuses on providing secure, fast transactions with the option of making them completely anonymous (rather than pseudo-anonymous, like with Bitcoin). It was founded in 2014 by Evan Duffield who thought privacy was an overlooked problem with Bitcoin. The Bitcoin developer community didn’t agree with him, so he created a fork of the Bitcoin protocol, adding various enhancements to the original code.
The Dash blockchain operates in a similar way to the Bitcoin blockchain with several notable enhancements. Dash users have the ability to optionally choose PrivateSend when sending Dash to another user. This function masks the origin and destination address of Dash transactions.
Another enhancement is the ability to make instant payments. InstantSend payments cost slightly more than normal transactions but are executed immediately. The Dash network adds a further layer of efficiency and security with Masternodes. Masternodes are run by participants in the network that hold a minimum amount of Dash and facilitate InstantSend and PrivateSend transactions. These participants also decide on the direction of new development for the network.
These three enhancements are significant improvements over Bitcoin. While the Bitcoin protocol doesn’t disclose the names of wallet holders, the wallet addresses are publicly visible. That means a wallet address and a name can sometimes be linked based on transaction histories. Bitcoin is also limited when it comes to making small everyday payments – this is a limitation that InstantSend overcomes.
Dash uses a hybrid proof-of-work/proof-of-stake consensus mechanism. Mining rewards are split 45%/45%/10% between miners, Masternodes and development grants. This contrasts with Bitcoin, where 100% of mining rewards go to miners. Dash has a similar maximum supply to Bitcoin of 18.9 million coins. As of 2018, just over 8 million Dash coin have been mined and all 18.9 million coins will be mined by around 2050.
Dash can be used with several well-known wallets. In addition to the Dash wallet that can be downloaded from the official Dash website, Dash is compatible with Ledger Nano S, Coinomi mobile wallets, Jaxx and Trezor. Dash is listed on most major exchanges where Dash can be bought, sold or exchanged for €, $ and other major currencies.
Dash has a lot going for it, but operates in a very competitive sector, namely privacy coins. While Dash, along with Monero, is recognised as one of the top privacy coins, many investors have chosen to buy new privacy coins with smaller market values rather than invest in Dash. They believe that coins with lower market capitalisation may have more upside.
There are also some concerns over just how private Dash really is. However, this concern applies to most privacy coins.
- Small transactions can be settled instantly.
- Dash has the option of anonymous transactions.
- Dash has widespread potential applications.
- PrivateSend transactions can be very slow if there is not a lot of activity on the network.
- Despite the ability to make instant payments, there are some scaling problems with the main blockchain.
- Some people believe that the tokens locked up by Masternodes will lead to liquidity problems and may create an overhang if Masternode owners decide their wealth can be better invested elsewhere.
Dash was originally called XCOIN, then DarkCoin, but later changed to Dash which stands for Digital Cash. Most analysts rate dash as highly as other privacy coins like Monero, Verge, Zcash and StealthCoin. Dash also offers plenty of liquidity and is an established coin in the sector. If you want to buy Dash coin, most of the brokers we recommend offer trading in Dash. These include top rated brokers like EToro, CryptoGo, BVC and Binance.
PIVX stands for Private INstand Verified Transaction and is another privacy-centric cryptocurrency. Launched in January 2016 by DASH community members, it's aims to prioritise advanced privacy and speed of transaction.
Monero is an open-source cryptocurrency, also focussed on privacy and decentralisation. Able to operate across Windows, Mac, Google, and Linux operating systems, Monero obscures sender, recipient, and amount of all transations to ensure privacy.
We’ve tested and reviewed brokers, wallets and more, and recommend the best providers on this website, so you can start trading Dash coin quickly and in a safe environment.
Dash has a strong following in the crypto community and is one of the top-rated privacy coins. It’s not easy to make a Dash forecast, as the sector is very competitive – there are over 30 privacy coins. In the short term, some investors have chosen to buy smaller coins, but in the long-term, network adoption will determine the Dash price. In that regard, Dash is a good option as it is well established. You may also wish to buy Dash as a hedge against devaluation of currencies like the EUR, USD and GBP as there should be steady demand for the coin in the future. These are two good reasons to buy Dash now.
InstantSend transactions take 1 second or less.
PrivateSend transactions go through a tumbler which combines several transactions into one, and then splits the single transaction into individual transactions again. Private transactions have to be made in multiples of specific amounts to allow for efficient mixing.
Anyone can submit a proposal for a development grant. These grants are used to fund network and infrastructure development projects.
Masternodes each have one vote to use to choose development projects. Anyone wanting to run a Masternode must stake 1000 Dash to prove their commitment to the network.
Dash did not have an ICO like most other coins. When it was launched in 2014, the block rewards were so high that 10% of the terminal supply was mined in the first two days. These tokens were used to fund initial development.