Bitcoin cryptocurrency has recently invaded the world by surprise. If you have been on the internet for the past few years, then you would be undoubtedly familiar with the word Bitcoin. Bitcoin is referred to as a new currency or digital currency that started in the year 2009. The transaction done using this kind of money does not incur the need for mediators or banks.
From Bitcoin, a new cryptocurrency rose that was also based on Bitcoin’s software. It is called Dash cryptocurrency – a wordplay between digital and cash. When you try to search this on Google, make sure not to confuse Dash with Dashcoin because they are not the same.
Dash may be based on Bitcoin, but it’s a lot better because of the many improvements that were done to it. Below are the things that you must know about Dash.
Origin of Dash
Dash was created by Evan Duffield on January 2014 and afterward, launched it in February of the same year. Formerly, Dash was called Xcoin before it was renamed to DarkCoin. On March 2015, another rebranding was made, and they changed DarkCoin into Digital Cash which was eventually shortened to Dash.
Duffield discovered Bitcoin in the year 2010, and he immediately noticed that something is lacking in its software. From that discovery, he decided to create his cryptocurrency which is faster, and more anonymous than Bitcoin.
Special Features of Dash
1. Globally Efficient
Money transfer is made easy with Dash Cryptocurrency. With Dash, sending money in any location around the world will be as easy and cheap as sending money to the neighboring town.
2. Awesome Security
Due to the master nodes that are in Dash, all of your transactions will be secured. It will provide you with a trustless protocol that will ensure the 100% safety of your every transaction.
3. Unbelievably Small Fees
The average transaction fee in Dash is $0.10 which is way lower than Bitcoin’s average transaction fee that ranges from $2 to $4. In fact, Dash’s costs are also lower than those charged by Moneygram, PayPal, and Western Union.
4. Amazingly Fast Transactions
The instantaneousness of all transactions in Dash shall be credited to the InstantX technology. For users to enjoy this feature, they have to click the “Use InstantX” option in their wallet when they want to send money. The transaction will be completed in as fast as 4 seconds.
Dash Cryptocurrency would be perfect to use in “point of sale” transactions because it can be confirmed instantly. You can use it in shops to buy food or clothes. It is faster than Bitcoin’s transfer time which usually takes 60 minutes to complete.
5. Incredibly Confidential Transactions
Origin of transactions can still be traced when using Bitcoin, despite their claims of being anonymous. On Dash, users are provided with the feature called Private Send which makes their transaction completely unknown. No one would know the location and the identity of both the sender and the receiver.
Dash Cryptocurrency provides an excellent alternative to other existing services by making transactions easier and faster. It is also effortless to use and will most likely continue to grow in the future.