The Theory of Evolution: DASH: Digital Cash

The birth of DASH dates back to the year 2014 when a noted American Crypto Expert Evan Duffield first introduced the DASH coin. Initially, as XCoin, it was a remake or branch of Litecoin to sustain parallelly but soon it was more popular as Darkcoin. This too became history when Duffield decided to route the implementation of this cryptocurrency for making cash payments and christened it as DASH i.e. Digital Cash!

Even though Duffield and his aggressive team-based Dash on the framework of the codebase as Bitcoin, DASH was meant to stand apart with distinctive features incorporated. The Asset underwent several changes before it finally proved its mettle at the exchange. Before we dig into the Dash price prediction, let us have a look at some of the unique features of Dash.

DASH Overview

Cryptocurrency Dash
Ticker Symbol DASH
Price $61.11
Price Change 24h +5.86%
Price Change 7d +5.68%
Market cap $638,013,685
Circulating Supply 10,750,814 DASH
Trading Volume $107,032,407
All time high $1,642.22
All time low $0.2139
Dash ROI +27610.39%

DASH: Understanding the Concept

Times have changed today. Gone are the days when you needed to carry a wallet stuffed with those fiat papers and checking on them frequently so they don’t get stolen. Carrying digital money is way better than cash as it addresses the issue of storage, portability comfort, superfast and hassle-free transactions.

A next-gen payment method, DASH works on a p2p payments network and records all transactions flawlessly on the blockchain: a decentralized, distributed, public ledger.

DASH: How Do I Stand Apart?

Dash network houses Dash for building decentralized applications. The entire framework is based on two nodal elements: 1) Drive and 2) DAPI. These two transform the Dash P2P network into a cloud facilitating a smooth integration with their applications by developers.

Following a decentralized control system, DASH happens to be an age-old concept designed to create a Pandora or Treasury, funded by 10% of the block reward. This is a fusion between the collection of transaction fees and the recent minting of Dash given to miners for securing the blockchain. The voting system on project proposals acts as a catalyst to boost and engage with the overall network and further enhances the inclusion of numerous new projects. This is a major stride that Dash has taken for technological advancement and as a promotional initiative.

Innovative Technology

A plethora of innovations is available on the DASH network in governance like masternodes, treasury system, security (ChainLocks), usability (automatic InstantSend), and scalability (long-living masternode quorums).

Instantaneous Confirmation on Transactions

Transactions are processed on a rapid-fire basis and receipts thereof are sent instantly with no added cost. The Chainlock is highly innovative to make sure transaction security is not compromised. Transaction security and decentralization are not negotiated at any cost. Hence, speed and fungibility are guaranteed. All this comes at no extra cost with complete transparency and safety.

Masternodes

A unique advantage of DASH is the conceptualization of masternode. These are nodes which are entirely different in their function compared to a conventional system of a p2p network wherein nodes share data and network resource without any discrimination. As a rare contribution to the payment network, DASH has worked wonders. It has gone one step ahead and added a second layer to provide better operation in exchange for more compensation. This second layer is what makes DASH the most secure industry-leading feature facilitating instant transaction settlement and usernames.

Long-Living Masternode Quorums

As the name suggests, these are Dash’s long-living masternode quorums (LLMQs) which contribute effectively by staying active for a long time as subsets on the entire node list. Formed by means of a distributed key generation protocol and implement threshold signing of consensus-related messages for features like InstantSend and ChainLocks.

Authentication

InstantSend is a feature enabled on the DASH payment network in which LLMQs ensure the submitted transaction is genuine and valid. If yes, it would store the inputs to that specific transaction and disseminate this information to the network, ensuring the inclusion of transactions in mined blocks and barring any disqualified transaction within this sphere.

ChainLocks

This feature has to do with the acceptance of payments. This works parallelly with InstantSend and builds an ecosystem wherein payments can be instantaneously accepted and all without jeopardizing “Blockchain Reorganization Events” in as little as 1.5 seconds. The platform’s average transaction time is 2.5 seconds — around 4 times faster than Bitcoin.

However, in order to avoid blockchain reorganization, multiple confirmations are available and so indirectly a risky transaction or payment is averred. However, this requires time and expertise.

Proof-of-Service

The Masternodes compulsorily have to partake in LLMQs, else they are liable to a penalty. For this intended purpose, a Proof of Service (PoSe) scoring system is introduced so as to encourage masternodes to accord this facility. In the event of nodes not participating in quorums, they are excluded.

As informed by a spokesperson at DASH Innovative Team, “A high level of security is assured as DASH is equipped with more than 4500 servers deployed worldwide facilitating instant transactions anytime anywhere.“

Mass Adoption via Cellular network:

The presence of the Dash Payment network on Cellular devices has been a strong catalyst in enabling user-friendly and has a scalable digital currency platform perfectly. Users are massively benefitted via this system as they can set up accounts, add contacts, and make pay-per-click purchases through websites or mobile apps.