Is Dash Coin a Good Investment? How Dash Works in 2020?
What is DASH?
DASH is a blockchain project based on Bitcoin tokens but provides users with additional features in terms of speed and privacy. Dash has established itself as a comprehensive online payment system and a low-cost alternative to traditional cash and card transactions.
Dash was launched by developer Evan Duffield in 2014 as a fork of the Bitcoin protocol. Dash, originally called Xcoin and then Darkcoin aims to enhance the privacy of the Bitcoin network and significantly reduce transaction time.
In the months after its release, Dash (or dark currency at the time) became the subject of news reports, indicating that it was used on the dark web to promote the sale of illegal drugs and other contraband. Regulators worry that the privacy features of Darkcoin will allow users to hide their transaction history and evade AML/CFT measures taken to detect and prevent crime. In response to these concerns, several cryptocurrency exchanges, including eToro X and ShapeShift, chose to remove tokens from their exchanges (although eToro X later took back Dash).
Darkcoin was renamed Dash in 2015 to get rid of the negative reputation of the token and confirm the feasibility of the token as a payment system and a currency suitable for daily use: in fact, Dash was selected as the holder of “digital cash”. In 2017, Duffield joined the incubator run by Arizona State University. As of April 2018, Dash has become one of the top 12 cryptocurrencies by market capitalization, and the token has also been expanded to Venezuela in response to the country’s economic fluctuations.
Dash is a decentralized autonomous organization (DAO), which means that governance issues are handled entirely by the Dash user community rather than a central authority. When there is a management problem, the main node will vote on the resolution until a consensus is reached. Part of the voting power depends on how much Dash the main token holds.
Dash positions itself as a competitor to fiat currencies, digital payment systems, and virtual currencies. In addition to privacy advantages, Dash also emphasizes transaction speed and lower transaction fees compared to credit and debit card payment services, online payment services such as PayPal, and competing cryptocurrencies such as Bitcoin. Dash is trying to position itself as an AML compliant user like Bitcoin and stated that its transaction protocol is similar to Bitcoin. Dash also sets a token limit: only 18.9 million Dash tokens will be generated.
Where did Dash come from?
The history of Dash began in 2014 when Evan Duffield and Daniel Diaz used Bitcoin technology to create their currency. At that time it was called “X Coin”. Then it was renamed Darkcoin, then Dash, which means “digital cash”. Bitcoin fork result. This means that Dash is an improved version of Bitcoin. Dash is one of the oldest decentralized companies in the blockchain governance system.
Is Dash a good Cryptocurrency?
Dash is one of the most well-known and mature companies in the cryptocurrency field. It has a long and vibrant history and has undergone many changes while maintaining its vitality. This makes Dash one of the most reliable investment currencies and answers the question of how I should buy Dash.