in every corner of the world who are talking about cryptocurrencies and bitcoin. On the other hand, even though Bitcoin is considered to be the number one sample of a peer-to-peer and decentralized cryptocurrency in terms of security, it does not mean that it is still suitable at this time. When it comes to privacy, the time of transaction confirmation in bitcoin is quite high, which is very impractical for transaction purposes happening every single day.
In addition, it was stated that if you are going to pay the lowest amount of transaction fee, then you are required to wait for about 13 more minutes before the transaction was processed. Some of the platform developers stated that it might cause a problem that is not easy to solve.
Evan Duffield was in Bitcoin way back in 2010 and cannot deny that he was amazed by the technologies used to run Bitcoin. On the one hand, he is not that amazed about its privacy lack as well as its slow speed of the transaction.
During that time, Duffield has lots of ideas in regards to improving the function of Bitcoin even better. But the bad news is that the core members of Bitcoin do not enable him to perform his plans because it will change the entire code of the core.
That is the time that he made up his mind to utilize the Core code and create his type of crypto way back on 18 January 2014.
Way back in 2014, Dash is known as the Xcoin, which turned to be “DarkCoin.” It was renamed to Dash, which is the short cut version of “Digital Cash.”
The Instamine Controversy
From the first 2 days that Dash was launched on public, there are an approximate 1.9 million of coins that were mined. It only means that almost ~10 percent of the entire supply. The creator of the platform stated that the instamine controversy was because of a bug that was made when the code of Litecoin was divided to make Dash that disadvantaged the problem.
The said controversy was solved in no time after Duffield made a solution. He stated that “to relaunch the coin an air drop in order to make the initial distribution broader.”
However, the community does not agree to the solution made by Duffield. Later on, the coins that were mined were distributed with a very low exchange price.
Dash owns a total of 18 million coins. It only means that there are only 18 million Dash tokens that are being created.
Each of the coins is equivalent to 697 US Dollars. Thus the total coins that Dash owns are 5.4 billion US Dollars. 2.5 minutes is the block mining average, which is noticeable that it is four times quicker compared to the Bitcoin that has a 10-minute block mining time.
The said platform also has a variable blockreward that usually reduces every year for about 7.1 percent/.
Dash has lots of features that make it stand out among the other platforms with the same caliber. In this post, I am going to discuss one of the features that make it stands out among the other platforms out there with the same caliber.
Masternodes
When we talk about masternodes, it has some similar features with the Bitcoin network. The only difference is that masternodes offered a work to the network and required some amount of investment. If you want to use masternode, make sure that you have invested for about 1000 Dash.
A full node is a server that runs on a peer-to-peer network. It will enable the peers to use full nodes to have updates in regards to the network’s events. Some of you might have knowledge about these that it needs extra care and significant upkeep. Since then, an increase in the level of full nodes does not happen as it was expected. It only means that this improves the time of block propagation.
Most of the miners love the latest blocks to spread all over the network in a quick possible time. Each delay of second improves the possibility of the other miners to win the “block race” and make their blocks be added to the chain.
Using the best incentive system is one of the ways that can be done to improve the amount of the full node.
“These nodes are very important to the health of the network. They provide clients with the ability to synchronize and quick propagation of messages throughout the network. We propose adding a secondary network, known as the Dash Masternode network. These nodes will have high availability and provide a required level of service to the network in order to take part in the Masternode Reward Program, “ according to the suggestion of Dash whitepaper.