1 Level
12 Review
28 Karma
Review on Dash by DAT NGUYEN PHAT
The main goal of Dash is to serve as digital cash, so it faces a lot of…
The main goal of Dash is to serve as digital cash, so it faces a lot of competition in this field. Bitcoin, Litecoin and Bitcoin Cash may be considered as some of the main competitors of Dash. Although all the projects use Proof-of-Work, we already learnt that Dash also has masternodes, which enables some features that none of the above have.
Pros
- Dash is a cryptocurrency focused on the payments segment of the market. Its name is portmanteau of “Digital Cash”. Dash was launched in January 2014 from Evan Duffield after a fork of the Bitcoin software. Its first name was actually Xcoin, later rebranded to Darkcoin and in March 2015 Darkcoin became Dash.
Cons
- In addition, a service called InstantSend allows transactions to be fully confirmed within 2 seconds. This is one of the functionalities which set Dash apart from every other blockchain. Most other digital currencies need to have several confirmations before a transaction is considered irreversible. All of this is made for security reasons but imagine a world where every time you buy your groceries in the supermarket, you have to wait for 30 minutes to make a successful payment. The awkward silence between you and the cashier will be the least of your problems.
