Dash is known as next-generation digital currency based on the Bitcoin software and it is an open source cryptocurrency. Dash has solved many of the problems essentially in Bitcoin by speeding up the transaction, offering more developed financial privacy and developing a decentralized governance funding system.
Dash coin is peer-to-peer cryptocurrency that was forked out of Bitcoin [as bitcoin is the only base for It.] to offer faster and more private transactions to users. Dash coin is becomes secured through a consensus mechanism called “Proof of Work (PoW). The process which is called ‘mining’, people use specialized computers to solve extremely difficult math problems. If their solution is correct, they receive the right to add a new block is added to the blockchain. Once the network verifies that the problem was correctly solved, a new block is added to the blockchain and miner is rewarded with Dash currency.
It is a blendword for digital cash and its currency symbol in the market is DASH.
History of Dashcoin
Dash launched in January 2014 as Xcoin, and then changed its name to Darkcoin but later in March 2015; Darkcoin was again rebranded as Dashcoin.
Dashcoin was created as a fork of Bitcoin, which means it duplicated Bitcoin’s existent code and made it better by addressing the issues users faced with Bitcoin. So, apparently different flaws and weaknesses are absent in both Dash & Bitcoin and this makes them digital coins substantially different in terms of efficiency. For an alternative to Bitcoin, Dash provides a faster with more anonymous service to its users.
The reason, why Dash may never rises and is not a good investment
Though Dash has an amazing run till the previous year. From trading under $10 just a few months ago, it recently topped $50. This sudden rise has brought a lot of attention to Dash, for history, tech, and the team. Unfortunately, in the crypto world which is usually means a whole lot of trolling back-and-forth, with a little rational discussion. Dash haters have come out in force, claiming every weakness is proof that Dash is a ‘SCAM’, and in response, some Dash defends have claimed that Dash has solved every problem inherent in this new technology, and its price can only go up or away.
So far, Dash’s biggest strength is its Masternode network system. This 2nd tier network allows Dash to include innovations that Bitcoin cannot adopt currently, including InstantSend, PrivateSend, and Dash Budget System and another strength of Dash is its core team.
Dash’s weakness is the business development part of its core team. There are too many failed projects, and it will be the waste of money to backing those projects. The team has spent too much time and too many resources on relationships with exchanges and other businesses, rather than channeling resources towards actual usage of the currency in the real world. Such real usage will turn the lead to exchanges and other businesses who wanted to integrate Dash.
Another weakness is ownership of Masternode; it is pretty to heavy because one cannot handle it at some point and also some of its life cycle not good as in long run.
So, after all these pros and cons that cryptocurrencies are a keep changing platform to change the world. But it may not be Dash coin itself because as there is N number of cryptocurrencies out there and so the competition is huge and it is my observation is that competition in the market will produce a valuable decentralized global currency. Based on all facts, Dash needs to be more functional to be best suited to win that competition. Not because of its structure is the only reason but the team members also and somewhere the process of Masternode as well.