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Review on Dash by Sharron Robertson
Dash Coin Review
Dash is a variant of the Bitcoin cryptocurrency that operates on the same blockchain network. A blend of the words ‘digital’ and cash’, Dash coin has become one of the most talked about altcoins in recent months.
It was originally launched under the name ‘XCoin’, before being altered to ‘Darkcoin’ and latterly Dash.
The biggest benefit of the Dash coin is that its transactions can be sent wholly anonymously, rather like fiat cash payments. This is achieved by using a mixing protocol, which operates an exclusive network of servers, known as Masternodes.
While Bitcoin operates only a single-tier network of miners, Dash uses these Masternodes as an additional layer for its network, removing the need for trusted third-parties to authorise transactions that could compromise the anonymity of any payment.
There are three key issues that Dash coin was designed to solve – lack of privacy, sluggish transaction speeds and overall governance. Bitcoin is only capable of handling seven transactions each second.
When you consider that Visa authorises 24,000 transactions within the same time, it’s clear that cryptocurrencies still have some way to go before usurping traditional payment methods.
Pros
- Small transactions can be settled almost instantly
- Dash owners given the option of making 100% anonymous transactions
- Widespread potential real-world applications
- Wholly decentralised and self-governed network
Cons
- PrivateSend transactions can be slow if the network lacks activity
- Scaling issues have been reported on the main Dash blockchain
- Tokens locked up by Masternodes could lead to long-term liquidity issues if Masternode owners invest their wealth elsewhere
