Nowadays, Dash is among the promising cryptocurrencies in the mining industry. Based on blockchain technology, Dash helps in making instant transactions securely. There are plenty of dash mining software and hardware are available in the market that people can make use in order to mine Dash. However, when it comes to the detail of this cryptocurrency, most of the people might not know everything. To cater to them, the blog post explains about the cryptocurrency. Take a look.
1. Invented by programmer Evan Duffield in January 2014, Dash is a decentralized digital currency that confirms the transactions in between two users. The distinguishing feature of Dash is protocol-level called DarkSend is going to be renamed as PrivateSend.
2. Owing to Bitcoin codebase, Dash has a great compatibility with exchange, wallet software, and merchants.
3. From the day it has been launched, Dash successfully implement a function known as InstantSend that provides confirmation in average time of 1.3 seconds that choose to make the payment.
4. Dash network’s average block time is 2.5 minutes and mining difficulty get adjusted in each block through Dark Gravity Wave algorithm.
5. Mining algorithm of Dash is known as X11 and the present ASIC hashrate is around 500 Gigahashes/sec.
6. Every year, Dash block reward changes. When miners successfully solves cryptographic problems and add a new block on the blockchain, then they get a block reward of 3.88 Dash. Each year, the amount gets decreased by around 7 percent and gives steady emissions to Dash at 22 Million coins.
7. Dash has plenty of unique features. The List includes –
• Private Send – This feature of Dash allows users to send the funds privately through mixing that fund in different transactions, hence it becomes hard to identify any transaction. The mixing service used by the coin is based on CoinJoin. This feature is optional that a user might want to use. However, there is fixed cap of 1000 Dash on which you can use this feature.
• Masternodes – In Dash, each note is not equal, it has privilege nodes known as Masternodes. These can be created by anyone that holds 1000 Dash. In addition, these nodes can perform InstantSend and PrivateSend functions and helps in earning 45% block reward.
• Instant Send – This feature of Dash allows instant Dash transactions means transactions within merely 1.5 seconds. However Masternodes charges a bit higher fees for confirmation of transactions. The double-spending problem is also solved by Instant Send. InstantSend is renewed version of InstantX.
8. As per competitors that are measuring count of nodes by market cap, Dash robust infrastructure is much higher than Ethereum or Bitcoin.
9. Masternodes prove collateral holding of 1000 Dash that gives incentives in order to provide governance.
10. Dash project next big development is dubbed as “Evolution”. It will release in the end of year 2017 and make most of the features automatic. And this will make Dash more popular.
The above-mentioned are some of the things about Dash that every investor must know about before investing in it. So, wait no more, make use of Dash mining software and hardware and start mining Dash.