A Look into Dash Cryptocurrency

If you would like to buy Dash you can do so here.

As most of you know by now I use Etoro to automatically copy Crypto traders. My best performing trader at the moment is Jay Smith (jaynemesis).

Jay trades multiple Crypto currencies however one of his most successful is Dash. At the moment Dash is trading at $1137. Which is up from when Jay opened the below trades at the beginning of December for at $727. Not many people I speak to about Cryptocurrency know much about Dash so this article is to bring you a background to one of the best performing Cryptocurrencies.

Dash Trades
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Bitcoin may be the most well-known cryptocurrency in the world, but it is by no means the only one. Dash is another cryptocurrency that bills itself as both self-governing and self-funding. Dash occupied the number four slot among the top six cryptocurrencies in early December 2017. One of its key differences is a decentralised masternode network that makes it extremely difficult for anyone to trace transactions.

The History of Dash

Dash Icon

Dash was originally released as a fork of Litecoin in January 2014, under the name XCoin. A little more than a month later the name was changed to Darkcoin before re-branding again as Dash in March of the following year. The cryptocurrency did not get off to a very good start due to a bug in the software that resulted in miners getting a hold of 10% of the total supply of coins in the first few days. What happened next demonstrated one of the major differences between Dash and other cryptocurrencies.

Dash creator Evan Duffield went directly to the Dash community once the bug was revealed. After fixing the bug, he offered to return the block chain to zero and relaunch the currency from scratch. The community voted overwhelmingly to leave things alone. Duffield then suggested an emergency infusion of new coins in order to broaden the appeal of Dash. The community voted that down as well. Things were left as is and Dash began its journey as a cryptocurrency network governed by the community instead of a small number of miners and directors.

Self-Governing and Self-Funding

The self-governing nature of Dash is a key component that makes the cryptocurrency what it is. Every community member has a voice with every decision being made. More importantly, all community members are encouraged to contribute their own ideas to make the platform better. A member with an idea merely needs to submit a proposal and allow the community to vote on.

In terms of funding network improvements, the community funds all the proposals it approves. In that way, community members are incentivised to do what they can to grow and expand the network. Dash does not rely on any outside sources of funding to do what it does.

Dash Success

In the few years since Dash has been in existence, the size of its network has grown faster than almost every other cryptocurrency in the world. There are currently 4,100 masternodes on the network alongside more than 4,500 servers hosting Dash across the globe.

One other significant difference with Dash is that it operates on two-tier network. Miners make up the first tier and handle tasks like verifying transactions, creating new blocks, etc. The second tier is made up of masternodes that handle private and instant transactions as well as network governance.

Dash is similar to other cryptocurrencies in some ways, but remarkably different in others. It can be used to send and receive electronic cash across the internet through high-speed transactions that are safe, secure, and nearly impossible to trace. And because it is self-governed and self-funded, you can have an active voice in the direction of Dash for as long as you are a member of the community.

There is much speculation on how the future will pan out for Dash, i’ll be leaving this one for Jay to trade and myself to copy! 

If you have any questions or experience with trading Dash please leave a comment!

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