Dash – the first truly anonymous cryptocurrency. Many crypto developers talk about the importance of anonymity in today’s world, but not all cryptocurrencies offer 100% privacy. But there is one cryptocurrency, the anonymity of transactions of which should not be doubted.
What is Dash
Dash is an open, decentralized platform based on blockchain technology. The main advantages of the coin are speed, privacy and security of payments all around the world.
The coin was formerly known as Darkcoin and XCoin. But over time, the developers carried out a number of major updates, as a result the name was changed and the cryptocurrency brand was redefined. The date of the first release of tokens is January 18, 2014.
What about anonymity?
The anonymity of transactions in the coin ecosystem is due to the use of masternodes – special nodes that ensure the implementation of the PrivateSend algorithm. Roughly speaking, masternodes are servers that help to “shuffle” tokens during the execution of a private transaction. Typically the user can choose from two to eight rounds of “shuffle”, but there may be exceptions. At the same time, the developers do not provide masternodes with full rights to carry out a transaction, which saves the system from centralization.
To protect the coin from attackers who own masternodes, a special collateral of 1000 coins has been created. But such a system does not reduce the motivation of users to create masternodes due to the large reward – 50% of the amount received by the miners.
In fact, Dash is the first truly anonymous cryptocurrency that does not provide an opportunity for third parties to obtain information about a transaction, its sender and recipient. The coin was the first to use a “token mixer”. This technology provides complete anonymity of transfers due to the fact that it “mixes” one coin with another in a random order and selection. Thus, no one can find out about the details of the transaction based on the information recorded in the blocks.
What’s with Dash now
Now the cost of the coin is $ 245.38 or 0.03996716 BTC. The total capitalization of the currency in June is at around $ 1.9 billion. The coin reached its maximum values on December 20, 2017. Then the value of the cryptocurrency was $ 1642.22, and the capitalization reached $ 12 billion.
Dash cryptocurrency review – the first completely anonymous cryptocurrency.
Dash is mined, so the emission of this cryptocurrency cannot be strictly defined. But at the moment, the total amount of issued tokens is 18,921,005.
It stands out from other cryptocurrencies in that the peak value against bitcoin was not reached at the same time as the value against the dollar.
How will the Dash develop?
Dash developers have launched an entire campaign to simplify cryptocurrencies. Dash’s official website states that the mission of evolution is to make cryptocurrencies easy to use, even for people with bad computer skills.
One of the campaign items was the creation of light wallets. According to the developers, the new type of wallet will have SPV security, browser compatibility and P2P connectivity to the Dash network.
Evolution implies the creation of a convenient and understandable client for interaction between a buyer and a seller of goods or services. For example, the developers are going to completely eradicate intermediaries, leaving only two participants in the transaction. In addition, a rating system for evaluating sellers will be introduced. Thanks to this, any user can see the seller’s rating and read reviews about him. Due to the security of the system, the rating completely excludes the possibility of cheating. This is by far the main difference between the Dash evolution ecosystem and regular online stores.
Conclusions and forecast
Many experts predict a long-term rise for this anonymous cryptocurrency. This is primarily due to the popularity among crypto investors. The coin is drawing attention to itself by striving to bring cryptocurrency to the general public, while many are trying to keep it underground.
The Dash developers not only say that the crypto market needs to expand, but they are also making every effort to do so. They create accessible and simple clients, carry out entire campaigns to attract users and investors. The Dash team has proven several times that they can show results not only in words, but also in deeds. In this regard, they are ahead of almost all crypto projects.
Dash’s approach to anonymity has long been the main advantage of this cryptocurrency. The developers were the first to implement a “token mixer” into the system itself. In our world, anonymity is highly valued, which is why the coin attracts the attention of many users.
Where the coin can be bought and stored – Dash wallet
The coin is available on almost all cryptocurrency exchanges. Binance, Bibox, Livecoin and BitFlip are offering this token in exchange for Bitcoin. But Dash wouldn’t be itself if it wasn’t newbie-friendly. The official website of this cryptocurrency has its own wallet with detailed instructions on buying and storing cryptocurrency. But if you’re not happy with the standard Dash wallet, you can always choose a different one. The list of supported wallets is also on the official website. Among them are the famous Exodus and Jaxx.
It is better to store the coin for a long time, because all cryptocurrency ups are ahead. But if you do decide to start trading, then it is better to choose an exchange for storage. Otherwise, you need to download the wallet and upload all your tokens to it.