Talk about the latest buzz in the crypto scene and DASH will certainly be in the top list with élan. The crypto industry is fast gaining increasing traction with new coins being launched almost every passing month. No wonder, market competition has staggered to a cut-throat where only the coins with highest potential are able to sustain. And amid such a fierce competition, if a new coin like DASH seems to command a fair share of the limelight, it certainly speaks of strong promise. As per the recent market reports DASH has witnessed a whopping 104 percent hike in the sector of commercial payments in the first quarter of 2020, resulting in a proliferating scale of adoption, price performance and trading volume.

DASH- a snippet

Akin to other major cryptocurrencies, DASH is a digital coin that you can use to receive and send payments. It’s user-friendly, instant, and unlike cash, global. The coin can be used to make any kind of payments for any goods or services, to anyone in a flash and for less than a cent.

A BTC fork but with more improved speed, scalability, privacy and even security.

DASH was developed as a Litecoin fork initially and then not long after that switched to become a fork of Bitcoin due to its more frequent development activity, effectively Dash has been developed on the very same blockchain technology that is used by Bitcoin, and due to numerous innovations DASH has in fact become an enhanced fork of Bitcoin. What makes DASH stand out is that the coin is powered by some innovative improvements in scalability and privacy that make it a more efficient option than BTC in a number of aspects.

Masternodes- the star of DASH ecosystem

The DASH blockchain system is composed of two parts: the miners (as we see on many cryptocoins) and the unique Masternodes. 

The Masternodes can be defined as 1000s of powerful servers which work to enhance the network security and speed up transaction times. The most significant benefits of Masternodes are:

PrivateSend

A major limitation of BTC blockchain is its “public” nature. It means if you make a BTC transaction, the whole world will know about all major details about it, the receiver and sender’s public address, sum of transaction and transaction history, and that certainly raises serious security concerns.

This is where DASH assures to help. The coin houses a rebranded implementation of CoinJoin called PrivateSend which unlike similar mixing services available with BTC and BCH, doesn’t require 3^rd parties in the process of mixing the coins. This optional privacy feature keeps DASH transactions private by obfuscating the source of the transactions beyond which is practically observable, however companies such as Chainalysis may use their technologies to risk score transactions on the blockchain so that DASH can remain legally compliant, which is crucial for exchanges when managing their AML risks. With this option no one knows the identity of the receiver and sender involved in PrivateSend DASH transactions, even though all DASH transactions are record on a public blockchain. An interesting advantage of DASH utilizing this feature is that DCG (Dash Core Group) maintains that DASH is not a “privacy coin” as its transaction rules are legally no different from Bitcoin. DASH’s mixing process is far more efficient and decentralized than similar 3^rd party services available with BTC and BCH, however fortunately DASH has been able to curtail regulators due to this legal distinction.

InstantSend

While Bitcoin takes 10-long-minutes for each transaction, DASH can get it done in just seconds! And such jet speed service has been made possible by the coin’s cutting-edge InstantSend technology. Since early 2019 all Dash transactions are InstantSend by default for no additional fee, achieving the finality of transactions that blockchains have promised, in around 1 second. This means that when you send Dash, the recipient receives it in a second and can immediately spend it.

Chainlocks

The DASH network is different from Bitcoin’s in that it has a second decentralized layer on top of the mining one. This layer (the Masternodes) can work in real time to validate activities on the network. It is also extremely resistant to attacks. An attacker planning to attack the network would need to buy more than 20% of the coin supply, which at current prices would be worth nearly 200 million USD. DASH implemented Chainlocks in mid-2019, and at the time several Dash Core Group executives claimed that DASH is now even more secure than Bitcoin, which has remained their view ever since. In fact this claim has been supported by research from Dr. Darren Tapp, a Research Assistant Professor at Arizona State University.

What’s next for DASH?

Due to DASH’s speed, security and focus on providing the best payments UX in the space, DASH has recently made a milestone partnership with an emerging application called CrayPay. Thanks to this partnership DASH will soon be available to spend at 155,000 merchants in the US in the coming months. That’s over 8 times more merchants than Bitcoin in the US.
DASH was also found to be the fastest payment option at Bitrefill.com during a competition last year. Bitrefill offers a wide range of gift cards internationally for Amazon, Uber, Walmart, eBay and many more stores and services available with instant delivery by using DASH.

DASH is currently bustling with 20,103+ transactions per day and which appears to be growing at a good rate quarter over quarter. In the crypto scene, we are glad that real-time businesses have already started accepting DASH in large numbers. Hopefully, we are going to have better days in the overall economy of the coin in the near future. This year will be huge for DASH developments, and it’s certainly a coin to watch.

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