What is dash? Working in a decentralized way, Dash is a cryptocurrency project that aims to provide a fast and inexpensive global payment network. In this article, you can find answers to questions that investors wonder, such as what is Dash, how does it work, what is DASH coin, what is it for, how to buy it. cryptocoin.comWe have prepared it for our readers who are curious.
What is dash?
The Dash project was launched in 2014 and has been evolving ever since. The team behind the project built a payment network, essentially inspired by Bitcoin. In this context, they built Dash on top of the Bitcoin Blockchain. However, they have also made some significant improvements over time. Thus, the project began to offer higher privacy, savings and speed than Bitcoin. And it has become popular thanks to the features it offers. The features that make it popular; Masternode achieved it through its various products named PrivateSend and InstantSend.
How does Dash work?
In the Dash ecosystem, it works with the Proof-of-Work consensus algorithm like Bitcoin. However, there are not only miners in the network, there is a two-tier model. Accordingly, there are Masternodes alongside miners in Dash. A user becomes a Masternode when they deposit 1,000 DASH coins on the platform. A Masternode acts as a private server that performs critical functions. They increase the security of the network and get 45% of mining rewards. Of the remaining 55% of the rewards, 45% goes to miners, and 10% goes to allocating funds. All rewards are given in Dash coin.
What is DASH coin?
Dash coin is the native cryptocurrency of the Dash network. In fact, the ecosystem was launched as a fork of Litecoin and later migrated to its own network. An error occurred when Dash forked from Litecoin and 10% of the total supply was available in two days. However, Dash coin, which stands for “Digital Cash”, has various use cases on the network. These use cases increase the utility of the altcoin and have an impact on its price. Now let’s take a look at how you can use DASH.
What does DASH coin do?
As it is known, Bitcoin works in a transparent and public way. Offering more privacy to users, the Dash project has released the PrivateSend feature. With PrivateSend, users can transfer DASH coins anonymously. However, DASH can be transferred and traded instantly from one wallet to another with InstantSend. The project, which offers a more confidential, cheap and fast service to users, aims to strengthen its position in the market in this way. Other use cases of DASH include governance and rewards. As we mentioned earlier, the altcoin is used to reward miners and masternodes. However, it gives voting rights to its holders in decision-making processes on the decentralized platform.
What is dash? How to get DASH coins?
Investors interested in the project are wondering about ways to buy DASH coins. In order to buy a cryptocurrency, it is first necessary to find a cryptocurrency exchange where the asset is listed. On a DASH basis, these exchanges include Binance, OKX, MEXC, Bybit and Bitget. Interested investors need to become a member of these exchanges and load an asset into their wallets that is compatible with DASH coin pairs. After that, a purchase order can be placed for the token.
