Dash is a form of digital money. All transactions in Dash are written to the public registry or “block”. Thus, everyone can make sure that this register offers an accurate and fair accounting of the currency.
Unlike blockers, such as Bitcoin, Dash has the properties of cash, provides instant transactions (InstantSend) and privacy (PrivateSend).
How does Dash differ from traditional currencies and Bitcoin?
Like ordinary money and Bitcoin, Dash can be used to buy goods online. Like Bitcoin, Dash does not have a central authority that controls its distribution, inflation rate or otherwise, related to the currency. Everything described is controlled by algorithms. Algorithms in turn run on multiple individual computers, which ensures decentralization of the Dash network.
DGBB – Decentralized management based on Blochen
Although there was a lot of hype around The DAO (Decentralized Autonomous Organization) project, but very few people know that Dash is the first project that started working in the DAO regime. It has decentralized management, protected from Sybil’s attack, and a financing system. This means that it is impossible to fool the system by creating several nodes to artificially gain more control over the network than one user is supposed to have. Therefore, development money is distributed in a decentralized manner on the basis of the consent of the network. Users make suggestions on sites owned by the community. Each master has one voice. After the offer receives the necessary network support, the funds will be automatically paid when the next superblock is created next month. To fund proposals, 10% of the miners’ coins are allocated. The remaining 90% are divided evenly between the miners and the Masterdn operators, who also have the right to vote.
As noted above, unlike traditional currencies, the issue of DASH is not controlled by banks or other central authorities. Instead, it “mines” with the help of distributed computing resources. In addition, unlike Bitkoyn, where the network is supported exclusively by miners, Dash has a two-tier network, for maintenance of which equally meet the Miners and operators of Masterdn. Any user can download the Dash software and maintain the network by running a “full node”. But the Wizards provide more services for the network than just the usual full nodes, and they are rewarded for this, as discussed above. Masternodes provide the basis for the anonymization function, which by default is not present in Bitcoin transactions.
It is expected that in the future, as the network develops, the Master-Ladles will provide other services. To run the master program, the user must confirm that he has 1000 DASH as collateral. These DASHs remain at the user’s disposal. Thanks to this logic, it is too difficult to gain control over the majority of Masterdnds, as this will require huge expenses. Masternode owner can at any time withdraw, spend or do anything with this pledge, but then the status of Masterdn will be lost and the receipt of the reward will cease.
What is the value of DASH?
Like Bitkoynu and unlike traditional currencies, which are provided with state regulation or raw materials like oil, Dash is a decentralized currency, and its value does not consist of material assets, but is based on mathematical laws. There is a formula or algorithm that determines how and when DASH is created. The software has open source code, so anyone can check it, and anyone can run it.
Since Dash is a fork of the Bitcoin crypto currency, it has many similar features. Some of them have been improved, for example, the Masterdn system mentioned above. Moreover, another advantage of the Masterdnode system is that it provides a consensus on the direction of the network development and the project management structure (in addition to the functions of anonymizing transactions and instant confirmation of transactions).
As a proof, the following example can be cited: while Bitcoin’s community has been discussing the block size for two years, in early 2016 the Dash community managed to solve the same problem in 24 hours. Owners of Masterdn voted to increase the size of the Dash block to 2 MB. Compare this well-established process with the PR pit-nightmare of the Bitcoin network, where discussions often turn into hot verbal online quarrels
Let’s sum up the advantages and features of Dash:
- The currency is decentralized. As mentioned above, Dash does not have a central authority that controls it. No one can freeze your funds or deactivate your account. You literally become your own bank. This is quite a unique opportunity.
- The currency is easy to use, it is easy for the Dash project to join and it does not matter in what role: the operator of the node, the Masterdog operator, the miner or the software developer.
- Dash is really anonymous. Bitcoin works in conditional anonymity mode. This means that there is no direct link to you, but in principle it is possible to track transactions and link them to a specific person. Dash has a blending function, which makes it impossible to deactivate transactions.
- Low commission for transactions. Unlike Bitcoin, the transactional load and commissions which have grown, Dash is still simple and inexpensive to make transactions.
- Dash transactions are very fast. Unlike Bitcoin, Dash generates blocks 4 times faster, every 2.5 minutes compared to 10 minutes in the Bitcoin network. This means that even without increasing the block size to 2 MB, the Dash network can process 4 times more transactions than Bitcoin.
- Finally, like Bitcoin, Dash transactions can not be canceled (unless the recipient himself sends them back). If the money is sent, then they are sent to 100%.