What is Dash?
Dash is a cryptocurrency with a decentralized structure. It states that by speeding up the transactions, promising functional financial privacy, creating a decentralized funding system and management, it solves possible problems of Bitcoin.
Dash, formerly named Xcoin and Darkcoin, aims to be the most scalable and user-friendly virtual currency in the world. It is an open-source code structure and a peer-to-peer (p2p) virtual currency.
In addition to the basic features of Bitcoin, Dash currently offers PrivateSend (private transactions) and InstantSend (instant transactions). Also, the Dash network provides a decentralized management and funding system that allows people and businesses to rewarded. This system makes Dash a decentralized autonomous organization (DAO).
- Anonymous – Your payments with the Dash system remain confidential. In this way, nobody will be able to follow you, and nobody else can see your balances and transactions.
- Fast – Dash brings life to the technology called InstanX by making use of Masternode network. Money transfer users can transfer much faster by choosing the “Use InstantX” option in their virtual wallets. Money sent via InstantX passes to the recipient’s account in 4 seconds. However, this process is irreversible.
- Secure – Using a reliable and functional encryption protocol, your payments and other transactions are done smoothly.
- Low Fee – For money transfers with the Dash system, transaction fees only take a few bucks. It is much cheaper compared to companies that mediate money transfers such as Moneygram, Western Union, Paypal.