What is Dash?

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Dash is a cryptocurrency whose main objective is to be a p2p payment network; it is Digital cash with immediate transactions that can be sent anywhere in the world, at any time, with minimum commissions of pennies on the dollar. All supported by a network of servers and computers running an encrypted chain of blocks that secure transactions and make them practically inviolable in real-time. One of the great advantages of Dash is its decentralized governance system, which allows it to be self-sustaining and create and grow communities around the world to support the deployment and real adoption of this cryptocurrency.

Intro to Dash

Created by Evan Duffield in 2015, Dash is a cryptocurrency with characteristics inherited from Bitcoin as a mother chain. However, it also has implemented improvements in governance, privacy, and speed of transactions, allowing it to take important momentum to continuously position Dash among cryptocurrencies with the highest actual use in the world and be constantly positioned among the top 50 in terms of market capitalization.

The governance system has guaranteed the implementation of a series of improvements in simple and non-traumatic processes that have improved and differentiated Dash from Bitcoin. Such decisions include increasing the block size, suggestions on adoption teams in LatAm, financing marketing campaigns, financing wallets like Dash Electrum, and dozens of projects approved every month on Dashcentral.org.

How is Dash Different from Other Cryptos?

Dash is intended to be digital money. This means that the development of Dash from its inception foresaw that a cryptocurrency to be used as digital money must have very low transaction fees, despite its valuation or number of operations, in order to be able to replace the small payments that are usually done with fiat money.

This is how their rates are almost imperceptible over the years, and stress tests have proven that they can remain that way for a long time, without having to submit the user to calculations or surcharges to transfer digital money on a daily basis.

The speed of confirmation is another important factor for the general public to adopt a technology as a means of payment, so Dash applied an intelligent solution enabling an improvement in transactions, where Master Nodes (a particular class of Nodes) validate transactions and make payments that are immediately available to the seller.

One of the most important characteristics to highlight is that Dash was the first cryptocurrency to develop a pioneering decentralized administration system in the crypto world, calling it a "Decentralized Autonomous Organization" or DAO; where decisions and improvements are evaluated month by month under the consensus of the majority of the Master Nodes. In addition to this, through this voting process, 10% of the resources resulting from the transactions are assigned to proposals that add value to Dash, which allows the system to be self-sustaining, and developers can work without external influence, as often happens in models that persist in donations.

How Does Dash Work?

Dash, like Bitcoin, works through its particular Blockchain, with the Dash currency operating on this blockchain as an exchange method.

One of the most notable improvements is the use of the potential of the Nodes in the verification of transactions, implementing the Master Nodes and adding improvements such as LLMQ (Long Life Master Node Quorums) that reduces network and hardware consumption and facilitates transactions snapshots, which introduces Chainlocks, which further secure the network from attacks.

All this technology is available in the wallets of the different platforms from where users can exchange Dash with a few simple clicks from their mobiles or computers.

How to Run a Dash Node?

To run a Dash Node, it is very easy. You just have to download the Wallet Dash Core from the Dash.org page, and you will be able to obtain a complete copy of the Dash Blockchain, which will allow you to function as a node observing all the transactions carried out on the network.

If you want to participate and contribute to the Network, you must install a Master Node, which is a bit different from the simple node and has some additional requirements to function.

A Master Node is also a Node with a full copy of the Dash blockchain, but it meets several additional requirements, which allow it certain additional tasks related to block validation, such as privacy and instant transaction features.

These requirements are:

  • Accumulate and store 1000 Dash in a hardware wallet or the Dash Core wallet
  • Hire a Linux server, preferably a Virtual Private Server (VPS)

However, there are also commercial Masternodes hosting services are also available if you prefer to delegate the operation of your Master Node to a professional operator.

Master Nodes are paid for this service, using a concept known as POS. Masternodes can also vote on governance and funding proposals.

How to Participate in the Dash Community?

There are several ways to participate in the community.

In the beginning, anyone can download the Wallets for Smartphones from Google Play or the App Store; with simple ones, you can already receive Dash as a means of payment for your services or products.

There are also several exchange houses worldwide where you can purchase with your local currency or with a credit card, Dash.

The Dash network, being global, makes it easy for anyone to transfer Dash anywhere in the world without geographical or commercial restrictions and with very low fees, so Dash is also an excellent vehicle to send remittances to different countries.

Another way is the realization of a Node or investment in a Master Node.

Anyone interested can also raise an improvement proposal focused on software, advertising, or the community, which can be considered by the Master Nodes, fulfilling certain basic requirements and an investment of 5 Dash. It can be financed for the requested term and receive extensions if it receives approval, as long as it demonstrates its effectiveness over time.

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