Dash is a cryptocurrency that was launched in 2014 to offer an improved version of the Bitcoin network. The cryptocurrency allows users to perform faster and cheaper transactions while maintaining complete anonymity. It also offers users a more convenient user experience.
The project was first launched with the name XCoin before rebranding as Darkcoin, after a bug in the previous software was used to mine nearly 2 million coins in barely 24 hours. Darkcoin was later changed to Dash on March 25, 2015. Dash stands for Digital Cash.
The goal behind the DASH coin is to be digital cash hence its name. Cryptocurrencies are rarely ever used for everyday transactions but Dash aims to be a scalable digital currency.
Dash has a maximum supply of 18.9 million and the current circulating supply is over 10 million Dash. Dash can also be used to make payments to retailers through its mobile app, DashDirect.
Perhaps the most unique feature of the dash crypto is its use of a masternodes system in its network. Masternodes are special computer nodes that differ from regular nodes in terms of their role in the blockchain network. Masternodes have a complete copy of the blockchain ledger they manage. These nodes are special servers that operate based on collateral, which means that each node is required to own a specific amount of the crypto.
Dash masternodes require a minimum of a thousand DASH. masternodes can operate several features on the Dash blockchain including InstantSend, a feature that allows users to instantly send payments. Another feature available to masternodes is Coinjoin. This feature allows users to perform a series of transactions that are more difficult to trace. As a reward for running the masternodes, users are given a guaranteed percentage of the Dash created from mining.
Another unique feature of DASH is how easy to use and understandable the Dash ecosystem is. It allows people who are not familiar with crypto to easily grasp the basic concepts of the industry. Dash is also one of the most commercially accepted cryptocurrencies.
The Dash blockchain network operates a two-tier structure. The first tier is based on the Bitcoin technology; it uses a proof of work system to add new blocks to the Dash blockchain. These blocks are added by miners. Miners are tasked with securing the blockchain by solving complex algorithms, each solved algorithm adds a block to the chain.
The second tier of the Dash network is run by masternodes. This tier improves the efficiency of the Dash blockchain by offering quicker and more secure transactions. Users with up to a thousand DASH can become masternodes. Masternodes are tasked with storing a full copy of the Dash blockchain ledger, facilitating instant and anonymous transactions through InstantSend and Coinjoin, and rejecting blocks that were not properly formed.
Unlike the Bitcoin network that rewards its miners with 100% of the block reward, the reward created from mining a new block on the dash blockchain is divided between the miners, masternodes, and Dash governance budget. The miners and masternodes take 45% each and the remaining 10% goes to the Dash governance budget. Masternodes also have the power to vote on how to spend the 10% allocated to the Dash governance budget.
These are the most notable risks involved in Dash:
Dash crypto was created by Evan Duffield in 2014. Duffield is a software developer who is well known in the technology industry, having started his career at the young age of 20. He has been in the industry for and in those years he has managed to achieve quite a lot.
Aside from Dash, Duffield also created the x11 algorithm, a hashing algorithm used to mine crypto more securely. In 2010, Duffield entered the crypto space. He was captivated by bitcoin and decided to create an improved cryptocurrency that was based on bitcoin technology, which led to the creation of Dash.
You can swap dash on any cryptocurrency exchange that lists the coin. Dash offers an average transaction time of 1.85 seconds. Swapzone lists DASH so you can buy, sell, and swap the coin on our platform with ease. For example, if you want to exchange some of your Bitcoin holdings for DASH, follow the steps below for a seamless conversion experience.
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.