Cryptocurrency Dash (DASH): coin overview, course, mining, and prospects

Quotes DASH DAS for today.

Go out to the street of your hometown and ask what dash is for ten random passers-by. Only one or two will say that dash is a cryptocurrency, the rest, most likely, will not be able to answer. But if such a survey is conducted on the streets of the capital of Venezuela, Caracas, then the result will be diametrically opposite.

What Is Dash Cryptocurrency

Dash is a secure and anonymous cryptocurrency developed as an alternative to Bitcoin, with a higher level of security. The dash cryptocurrency, also known as Darkcoin or XCoin, is completely decentralized and independent of external regulators. The concept of Decentralized Governance (DAO) provides for the possibility of each member of the community participating in the development of the project and the absence of the need for large computing resources to support the health of the ecosystem. The mining algorithm for this cryptocurrency is more complex than SHA-256, or Scrypt and consists of eleven hash functions. Which, however, did not stop ASIC miners from taking control of darkcoin mining.

Command

The dash currency was created in January 2014 by programmers Evan Duffield and Daniel Diaz. The idea itself appeared much earlier in 2010, when Evan Duffield first became acquainted with blockchain technology. For several years he worked to increase the confidentiality of virtual payment systems, but all of his proposals for the modernization of the first cryptocurrency Bitcoin were rejected. Then he with a group of like-minded people created his own coin XCoin.

Technical principles of work

On the Dash network, transfers are much faster than on Bitcoin. The system does not verify and identify the sender of funds, so financial transactions occur almost instantly and without violating the anonymity of the token holder. It was on such an improvement in the payment system of the first cryptocurrency that Evan Duffield worked for many years.

DarkSend Engine

DarkSend works in two modes:

PrivateSend, a mixing service using the CoinJoin engine.
InstantSend provides instant transactions.
PrivateSend mixes the inputs and outputs of transactions, guaranteeing the implementation of the concept of advance anonymity (ahead-of-time anonymity).
At the first stage, the sender selects the degree of anonymization, indicates the amount to be encrypted and manually forms the payment.
After this, the denomination process is activated. The wallet divides the transfer amount into several parts.

The system mixes the money sent with the assets of other transactions, the process can be repeated up to eight times, but the coins are always sent from the sender to the recipient and theft by their third party is almost impossible.

Mining Dash

Currency mining is profitable exclusively for ASICs. Three manufacturers of integrated circuit devices are involved in the release of new models: Strong, FusionSilicon and Spondoolies. The network has several pools for collective mining.

The reward for the signed block is calculated according to a special formula embedded in the Dark Gravity Wave (DGW) mining difficulty adjustment algorithm. Owners of ASIC installations receive 45% of the remuneration, the same amount is transferred to the master nodes and 10% goes to the platform development fund.

Masternodes

Masternodes on the dash cryptocurrency network are special servers responsible for executing PrivateSend and InstantSend transactions. The owner of the master node must:

Freeze 1000 dash coins on the balance of your wallet.
Install a special program on your PC.
Monitor the smooth functioning of the equipment.

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