Dash is one of those cryptocurrencies which try to overcome the limitations of Bitcoin and offers some additional features. Dash was launched in 2014 with the name of “XCoin” which later became “Darkcoin and now we know it with the name of “Dash”. Dash is a unique fully-incentivized peer-to-peer network which offers some unique features like instant and private transactions.
Dash has a lot of similarities to the Bitcoin, but the Dash network has two tiers, the first tier has the normal miners who are responsible for creating blocks. The second tier has the Masternodes. Without going into too many details, nodes holders have to invest 1000 Dash coins to be a Masternode. Master Nodes offer some additional services like PrivateSend and InstantSend which are exclusive to them. Masternodes are also that ones that “look after” the currency as they have governance and decision making rights. The 100 Dash coins can be removed anytime by the investor but doing so will also remove the status of Masternode, into a normal node.
Master nodes also get the 45% of the total block reward, whereas rest of the reward is distributed between Miners (45%) and Remaining 10% goes to the treasury. Funds in the Treasury are used for the development of Dash and Masternodes decide that where these funds will be used by the voting system.
Dash network is also faster as compared to the Bitcoin network, where Bitcoin Transactions take up to 10 minutes to confirm the transaction, Dash network only take 4 seconds to confirm the transaction. Transactions on Bitcoin Network goes up to 50$ but Dash’s transaction fees are lowest. However, if you use the services of Masternode you will have to pay the higher fee for the fast transaction.
Dash Trading was started in February 2014 with the starting price of 0.21$. Dash crossed the mark of 100$ in May 2017 and at the end of 2017, Dash was trading at 1200$. Just like other cryptocurrencies, 2018’s first two months was also not good for Dash and in these 2 months, Dash dropped 50% of its value.