Dash

2017-02-12 00:00:00:

The modern electronic market is filled with many types of digital currencies. In the last few months alone, about fifty virtual money has entered the World Wide Web. Of course, not all cryptocurrencies will be able to survive in tough market conditions: the weakest and most vulnerable will sink into oblivion. And there is nothing surprising in this: the principle of natural selection is that the strongest survive.

Specialists in the field of cryptocurrency highlight the most promising payment system that issues its own coins. This service began its work in the first month of 2014. In just 3 years, the system has gained immense popularity among the community. She is also known in the Russian Internet community. We are talking about the Dash service (in Russian circles, the payment system was affectionately nicknamed “Dasha”).

At the very beginning of its existence, the cryptocurrency was referred to as Darkcoin. A year later, the developers decided to rename their invention - since then the system has been called Dash.

To everyone's surprise

At the moment, Dash is one of the most popular payment systems that issue altcoins. From the moment the project was launched, it was clear that professionals took up the matter. The team was led by Evan Duffield. In their brainchild, the developers have embodied all the best. Many characteristics have been taken from Bitcoin and its most famous analogues.

Despite borrowing, analysts still do not believe that Dash is the “twin” of the most expensive cryptocurrency in the world. These altcoins have their own unique features that are difficult to find in other varieties of electronic money. Dash uses software that was developed by the founders of the payment system.

Most recently, programmers released a new series of releases. The system has completely changed its appearance: the work of masternode networks has been optimized, DarkSend technology has been introduced, thanks to which payments are mixed and complete confidentiality of transactions is ensured.

Dash successfully passed the "exam" for security. The work of protective systems was checked by Kristov Atlas. Testing was carried out 9 months after the launch of electronic money. The developers have made the original key public. In the same period, the InstantX option was launched, which ensures the instantaneousness of transactions.

18 months after the payment was published, it literally won the hearts of the community. Dash quickly took a position among the leaders: today the coins are in the top five of the most liquid, efficient and safe cryptocurrencies.

In 2015, the brand was rebranded (renamed): Darkcoin was changed to Dash. This term has two meanings:

• movement, jerk;
• digital money.

The “coin” part, present in many fork names, has been removed. Dash developers have outlined quite ambitious plans: to create a monetary unit that can compete with Bitcoin .

How is Dash different from other altcoins?

Dash is a private virtual currency based on open source code. Using the monetary units of this system, you can make payments in a matter of seconds: no delays, tedious waiting, red tape and delays. There are no limits here: a member of the system can make transactions for any amount. All information, both payment and personal, is hidden from other users.

Dash has unique features that are unlikely to be found in other payment systems. Consider the features of the service in more detail:

1. The strictest secrecy. Information related to the holders of e-wallets (where the funds were sent or where the funds came from, the transferred amounts, how much money is stored in the account, personal data, etc.) is not available to other users of the Network. Privacy is provided by Darksend technology.
2. Cheap and cheerful. Using the services of Dash , you can save on commission fees. There are transactions for which you do not have to pay at all. Of course, in some cases, a commission fee is charged, but its amount is not as large as, say, in ordinary banks.
3. Lightning payment. This is the main distinguishing feature of Dash. Money is transferred instantly. This speed is provided by the Technology is a proprietary development of the employees of this payment system.
4. decentralized transactions. State authorities and control bodies will not be able to track the movement of funds. Intermediaries are also left behind.
5. Safety first. Cryptocurrency developers have put a lot of effort into creating a reliable security system. Their efforts were crowned with success: e-wallets of the system participants are under reliable protection of modern encryption programs and 2-rank architecture.
6. The borders have been erased. An e-wallet holder can send their virtual coins to any region of the world.

Dash wallets

To work with Dash, however, as with any other cryptocurrency, we need a virtual wallet, which is a client program. The Bitcoin QT software was taken as the basis.

People who already have some experience with electronic money can easily deal with the Dash client: its functionality is not much different from similar programs.

The e-wallet interface is convenient. You can understand it at the level of intuition. Foreign users who do not know English will be especially pleased with the presence of a large number of languages, and our compatriots can turn on the Russian interface language.

Before you start working with cryptocurrency, the user needs to download special software to his computer. To do this, go to the Dash website https://www.dash.org/ru and download the program. Installing the client will take some time to synchronize the software.

The personal account has all the options necessary for comfortable and efficient work. Transactions can be carried out manually, or you can send payments automatically.

Qualitative analysis of the Dash service

The developers have equipped the system with a number of options that make Dash unique and distinguish it from hundreds of altcoins of the same type that have appeared on the vastness of the Global Web in the past few months.

Almost all payment systems have a 1-rank network, the task of which is to ensure consensus between nodes of equal value. There is no need to talk about the confidentiality of users' payment information: information about transactions is recorded in a distributed ledger (blockchain). Anyone can trace the direction of the movement of funds, analyze and "calculate" the payer or recipient.

Dash uses a different scheme of work: the network architecture consists of 2 levels, and the highest rank of consensus consists of "supernodes". This structure ensures the high speed of the protocol. Information about financial transactions will be stored in the blockchain only when the approval of the masternodes is received.

The creators of the cryptocurrency are confident that in the near future the two-tier network structure will be used to:

• storage of various kinds of information: history of financial transactions, notifications of registers, etc.;
• distributed applications: virtual stores, online organizations that provide users with IT services, exchanges, etc.

The Dasha network will be used as the basis for launching projects that have been developed by the partners of the service.

In the field of electronic money, a new tool has appeared - a voting system. This tool allows masternodes (head nodes) to participate in a secret ballot. Of course, ordinary users will not be able to vote, but they have the right to make their proposals regarding the development of the service, making changes to its work. The success of the Dash system depends on the voting system.

After conducting a qualitative analysis of the service and highlighting its characteristic features, we can conclude that Dash is a system that can adapt to the real conditions of the modern cryptocurrency market.

Dash value in the virtual currency market

The developers claim that Dash will issue about 22 million coins. However, analysts are confident that approximately 18 million monetary units will enter the market. More than 5.5 million Dash has now been issued. If this amount is converted into US dollars, then it will be about 20 million dollars: 1 unit is valued at 3 US dollars.

The cryptocurrency of this brand is very popular in the foreign exchange market. Dash purchases are made daily. Transactions worth $50,000, and sometimes more, can be concluded per day.

The number of issued coins/year is gradually decreasing. The developers made sure that the issue is smoothly distributed: the issue of monetary units is reduced by 7% every 12 months.

It takes 150 minutes to calculate the block. 1 coin is divided into 100 million shares. In the community, these shares are called "duffs". The name comes from the name of the creator of the cryptocurrency E. Duff.

Dash functionality

Dash wallet is equipped with all the options you need to improve the security and efficiency of financial transactions.

1. Instant X feature . This option is responsible for the speed of payments. It is thanks to InstantX that transactions are made almost instantly. To make a payment, confirmation does not come from the side of the network, but from 5 head nodes (masternodes). The function is enabled automatically.
2. Darksend feature. The purpose of this option is to keep transactions confidential. There is a mixing of funds, and the account numbers of the payment participants are hidden. This is a paid feature.

If the client wants to hide his transactions, then he must enable the option himself. The user can control the mixing intensity. Mixing can take place in several stages - from 1 to 8. The client has the right to determine the number of coins that will participate in mixing.

The service administration recommends enabling the feature and setting it up before making payments.

Masternodes (head nodes)

The work of Dash is based on head nodes - masternodes, which are responsible for:

• stability of the system;
• safety;
• operation of all service options.

In a word, masternodes act as guarantors that confirm transactions that were sent through InstantX. Masternodes are a kind of "mixing device" in which financial transactions are "mixed".

By creating masternodes, participants in the system earn money. By generating 1 block, the user will receive up to 50% bonus. The conditions of the system stipulate that before creating the head node, it is necessary to make a deposit, the amount of which is 1 thousand coins. Funds do not go anywhere, they remain on the account and are not even blocked, it is necessary that the required amount is always on the balance of the wallet. A person can manage the money at his own discretion, but if the deposit is spent, the system will automatically turn off the masternode. To date, participants in the system have generated about 2.5 thousand head nodes.

The decision on the pledge was made by the management of the service not at all in order to somehow limit the possibilities of users. This is a precautionary measure that will prevent hackers from invading the voting system. Only trustworthy users will be able to create blocks.

The number of masternodes open for creation is limited by the number of currencies that have already been issued.

The system issued about 5.5 thousand Dash. Almost half of the coins participate in the creation of masternodes and are pledged. This has a positive effect on the value of the cryptocurrency: the price of coins is steadily growing due to the limited entry of electronic money to the market. But one day all the funds will be released, and this can provoke a sharp decline in the Dash rate.