What is Dash Coin?
Dash is a cryptocurrency that has been in use since 2014. It was originally named "Darkcoin", but was renamed to Dash in 2015, and is ranked 10th in market capitalization and is highly popular. Dash is a cryptocurrency that can be used like cash for secure and fast payments and has the following features. -High anonymity -Provides instant settlement -Backed by a master node Dash is characterized by a high degree of anonymity and very fast transaction speeds. It is possible to send and settle money quickly while still protecting privacy. These features are made possible by the presence of a master node.
Key features of Dash
High anonymity
Dash is characterized by a high degree of anonymity. While there are other crypto-crypto with high anonymity, such as Monaro, Dash achieves anonymity in its own unique way. When sending Dash to another user, the 'management node' first receives the currency rather than transferring it directly. After the management node receives multiple transactions, it reassembles them in a disorganized order and sends them to the recipient. By doing this, no one else can know "who transferred money to whom". For example, user A transfers 10 DASH to user B. In this case, - user A transfers 10 DASH - user B receives 10 DASH
is known, but there is no information on - who User A transferred it to - and who User B received it from.
This mechanism of mixing and shuffling multiple transactions is called "Private Send". Shield (XSH), previously described, is the progenitor of this approach.
Providing instant settlement
As well as being highly anonymous, another feature of Dash is its support for 'instant settlement', which is so fast that a transaction can be concluded in less than a second. Considering that Bitcoin takes 10 minutes to review and process a transaction, you can see how much faster Dash's transactions are. If transactions are processed this fast, it's not impossible to use it as an alternative to 'cash'. This instant settlement mechanism is also known as "In stand Send".
Dash backed by a master node
One thing that cannot be overlooked when talking about Dash is the existence of a "master node". Firstly, what is a node? A node is an endpoint (personal computer or smartphone) connected to a cryptocurrency network. Among the many nodes, the one with special rights is called the "master node". To become a master node, the following conditions must be met. -In fact, the "high anonymity" and "instant settlement" of the Dash are provided by the master node.
Anonymity is achieved through "Private Send", a method that disrupts and reorganizes multiple transactions. It is the master node that completes the big shuffle after collecting multiple transactions and currency. Also, by stipulating that only the master node can approve transactions, the "Instant Send" for immediate settlement is perfectly implemented. In addition, if you become a master node, you are paid 45% of the transaction fee and have the right to approve or reject development proposals. The master nodes support the Dash system and are also involved in its operation and management.
Dash news and future potential
Japanese trading platform Coin Check halts trading of Dash
Dash used to be listed for trading on Coin Check, a Japanese cryptocurrency trading platform. However, just in June 2018 Coin Check announced that it had taken Dash offline and stopped its trading. Coin Check is currently working on getting permission to resume trading in cryptocurrencies in Japan, which currently requires permission from the Financial Services Agency, a government department. However, cryptocurrencies such as Dash, which are highly anonymous, are seen as potentially problematic by the Japanese Financial Services Agency due to their vulnerability to abuse. It would be difficult to obtain permission from the Financial Services Agency to offer trading services in highly anonymous cryptocurrencies, which is why Coin Check has decided to stop trading in Dash. Similarly, highly anonymous cryptocurrencies like Dash, such as Monero (XMR) and Zcash (ZEC), have also been halted. Even in Hong Kong, there is no intention to introduce highly anonymous cryptocurrencies to any trading platform.
Dash is available at cryptocurrency ATMs in the US
Dash trading is declining in Asia, but the number of places where it can be used is growing in other countries, particularly in Europe and the US. In July 2018, CoinFlip, a cryptocurrency ATM in the US, announced that it would be adding Dash to the available currency. There are still very few cryptocurrencies’ ATMs in Hong Kong, but the number of ATMs is rapidly increasing worldwide, with CoinFlip having over 175 in the US alone. If Dash becomes available in cryptocurrency ATMs, it is expected that the volume of Dash transactions will increase and prices will rise.
Future potential
Dash, due to its highly anonymous nature, can also be used for money laundering, like Monero and Zcash, and exploited by the dark web, for example. Therefore, like CoinCheck in Japan, it is likely to be heavily regulated in Hong Kong and there is even the possibility of trading being halted. But with Dash consistently ranking relatively high in the market cap rankings, would a cryptocurrency that has been successfully integrated into the market in Europe and the US really ignore the Asian market? More likely it will be like a way to ease regulation and thus penetrate the Asian market. There have been many cryptocurrencies before Dash that first became popular in Europe and the US before moving to Asia. If you are considering a piece of the pioneering investment pie, we suggest you start adding to your position before Dash starts to be introduced in Asia.
Dash is a cryptocurrency with a high degree of anonymity and instant settlement characteristics. Cryptocurrencies with a high degree of anonymity may be regulated, but cryptocurrencies that can be used as securely and quickly as cash are valuable, so the Company expects the use and popularity of Dash to expand further. With vending machines that can actually use Dash emerging, as well as US cryptocurrency ATMs announcing the availability of Dash, etc., access to Dash is slowly increasing. Of course, as the available space expands and the volume of transactions increases, the Company will see the price of Dash increase in the near future.
