Dash (formerly known as XCoin and Darkcoin) is a cryptocurrency that was developed in 2014 by Evan Duffield. It’s an open source peer-to-peer digital currency with instant transactions, private payments and low fees. Dash has become one of the top ten cryptocurrencies by market capitalization, making it a popular choice for traders who are looking to invest in digital currencies.
Dash is based on Bitcoin’s core code but has its own blockchain technology which makes it different from other coins such as Litecoin or Dogecoin. It uses an innovative consensus mechanism called Darksend, which allows users to make anonymous payments without having to reveal their identity or personal information. This ensures privacy for all participants involved in the transaction process while still providing fast confirmation times and low network fees when compared to traditional payment systems like credit cards or bank transfers.
Additionally, Dash also offers InstantSend functionality which allows users to send funds quickly between two wallets within seconds instead of waiting up 10 minutes required by some networks like Bitcoin’s blockchain technology . With this feature enabled any financial movement can be done almost instantly without needing miners’ approval thus allowing faster confirmations times than would otherwise be possible using regular blockchains alone .
Furthermore , Dash includes a self-funding model where part of each mined coin goes into funding development projects related directly with the platform allowing developers within the ecosystem access additional resources needed for further innovation around this project . Alongside this , they have recently launched Evolution -their new version 2 wallet system -which will enable more user friendly features making crypto adoption easier including built–in contact list support , automatic backup & restore capabilities among others .
In conclusion , if you’re looking at getting started investing into cryptos then dash could well be worth considering given its many advantages over other coins including anonymity , speed & security provided through its unique consensus algorithm along with its expansive suite of tools & services available both now & planned for future upgrades !
