Review on Dash by Benaiah A. Akinlade
DASH: A fork of Litecoin created to improve on Bitcoin
“Digital Cash” Dash is an open source P2P decentralized cryptocurrency fork of Litecoin that was introduced to improve upon Bitcoin through a secured and faster completion of transactions. This means that it is built on the same blockchain technology as Bitcoin. It has a circulating supply of close to 10,000,000 DASH coins and a maximum supply of more than 18,000,000 DASH coins.
Dash is a very easy, user friendly and scalable cryptocurrency which is made possible by several networks. The Dash token is created through PoW mining algorithm and also rewards miners with 45% of the new DASH mined. Dash comes with three distinct characteristics; InstantSend, Masternodes, and PrivateSend. These features enables the transactions of dash to be fast and secure. It is noteworthy that DASH transactions are completed and confirmed in less than 3 minutes but your transactions can be confirmed in seconds if you are willing to pay an extra fee
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It is traded on several popular crypto exchanges such as Binance, OKEx, Coinbase, and so on. You can trade your DASH against other cryptocurrencies and stablecoins such as Bitcoin, USDC, Ether, and USDT among others. The price of Dash has been significantly soaring high in the past few weeks but attention should be paid to the high volatile nature of cryptocurrencies that can see a significant surge or fall in the prices.
I noticed that Dash is also well secured by the use of the PoW algorithm known as “X11” which is one of the safest cryptographic hashes around. It also uses the Proof-of-Service consensus algorithm which is capable of accepting new locks and rejecting blocks that are not properly approved
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I believe that DASH coin is a worthy token to hodl, but at the same time, I advise hodlers to trade responsibly.
Pros
- The DASH is tradable at a very secure and high transaction speeds when compared to Bitcoin as its transactions are confirmed by close to 5000 computer servers worldwide
- It has similar features to BTC and LTC but provides better services and use cases
- You can purchase DASH with your bank cards
- The token can be hodled on hardware wallets such as Trezor
Cons
- Dash Coin contracted a bug on its introduction which led to the mining of 2 million Dash Coins in 2 days
- There is an extra fee you need to pay if you want your transactions to be confirmed in a few seconds instead of the normal 2.5 minutes
- The secured nature and anonymity of Dash is a fascinating prospect for fraudsters because transactions cannot be traced
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Comments (2)
April 01, 2021
I bought some Dash coin worth $250 some months back when its value was around $96 in a bid to try out the currency myself and see how it works. The sign up and registration process was quite easier than I expected,after that I made the purchase of the dash token through my debit card and I got the token in my Bitsane account within just few minutes after making the purchase.
February 08, 2021
I agree with some part of this article as there is a great advantage of DASH concerning speed and fees for transactions. It is a great crypto. I am a fan of privacy function and I see it as advantage not contrary.
