Dash
What is Dash.
DASH formerly known as Darkcoin and XCoin is an open source cryptocurrency software platform with a peer-to-peer transaction system. Its main goal is to be the most user-friendly and most chain-based cryptocurrency. -Scalable in the world.
DASH is built with instant transaction InstantSend functionality, private transaction PrivateSend, and runs an autonomous and self-financing model, which enables the DASH network to reward individuals and companies who perform activities to increase the value of the network.
History of DASH.
Dash was published on January 18, 2014 under the name XCoin by Evan Duffield, dash was published using a combination of 11 cryptographic algorithms:
Bmw. Blake. Groestl. Jh. skin. Keccak. Luffy. Shavite. Cubehash. echo. Simd.
And the eleven algorithms mentioned above that created the DashCoin called X11.
The purpose of creating XCoin is only to make the system on XCoin more secure when compared to the algorithms used by other cryptocurrencies.
Examples include: BTC which only uses SHA256, BTG uses Equishash and LTC uses Scrypt.
Dash features.
Speed.
Compared to other privacy coins, Dash has become very popular due to its main goals, namely speed, low cost and privacy. speed Use the InstaSend protocol to complete transactions in 1 second. The InstaSend protocol uses master nodes instead of miners to verify transactions. The transaction is received by the master node and broadcast to another master node and verified in the next block instead of verifying the IstaSend transaction in the current block.
Masternodes.
Main node DASH functions Unlike the Bitcoin network which uses a single layer network, all work on the network is done by miners, and DASH uses a two layer network. Certain network functions, such as creating new blocks and protecting the blockchain network, are handled by miners. The second layer of the DASH network consists of a "master node" which is responsible for performing PrivateSend, InstantSend, and governance functions. Masternodes require 1000 DASH as collateral to prevent Sybil attacks on their network. Because Masternodes provide important network functions, block rewards are distributed between miners and Masternodes, and everyone receives 45% of block rewards. The remaining 10% will be put into the treasury budget which is often used for developers.
Instant Send.
InstantSend on DASH is a service that allows instant transactions. Through this system, certain transaction inputs will be locked and verified by the consensus of the Masternodes network. Striked transactions and blocks will be rejected. If consensus cannot be reached, transaction verification will be carried out via standard block confirmation. InstantSend provides a solution to the problem of multiple transactions without the need for longer confirmation times than other cryptocurrencies such as Bitcoin.
Private Send.
PrivateSend is a coin mixing service based on CoinJoin, which has been modified many times. In other words, the PrivateSend implementation allows master nodes to use a special network code called DSTX to transmit transactions, with the aim of providing additional privacy for transaction participants. PrivateSend makes DASH “worth it” by mixing coins of the same denomination as other wallets.
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