What is Dash
Dash is an anonymous and secure crypto coin that was created as an alternative to BTC with better security. This coin, also known as XCoin or Darkcoin, is independent of external regulators and is decentralized.
How the Dash system works
The Dash cryptocurrency for the current day is a decentralized payment system that has a number of features that distinguishes the coin from others.
The main difference is that this digital unit is built on the basis of a two-level system. The decentralized management model created at the 2nd level (Masternode) makes it possible to form a kind of secure network for communication processes.
Transactions on this cryptocurrency network are even faster than on a Bitcoin system. It does not identify the sender of funds and does not verify it, therefore, all monetary transactions occur very quickly and does not reveal the anonymity of the asset owner.
The Darksend engine is responsible for network security, which will allow you to maintain complete confidentiality without attracting secondary resources and with minimal human involvement in the payment process.
DarkSend works in PrivateSend and InstantSend modes.
PrivateSend mixes the outputs and inputs of transactions and guarantees the implementation of the extended anonymity clause.
InstantSend mode transfers money in a trust format. This will allow the trader not to wait for the processing of the transaction, which is approximately 150 seconds. When forming a transfer, a special trust gateway controlled by masternodes is blocked. This protects the system from double-spending.
Dash masternodes are servers that are responsible for executing InstantSend and PrivateSend transactions.
Where to buy, sell and store Dash
The digital coin has good liquidity and can be easily exchanged for another cryptocurrency or fiat. Large exchanges that require the obligatory registration of customers, and small exchangers offering instant conversion without any questions work with it. One of the best trading platforms for buying and selling Dash is Binance, Huobi and Kraken. The main trading pairs are DASH / BTC, DSH / USDT, DSH / USD.
You can store Dash coins both on the official wallet and on the resources of third-party developers. There are also many local mobile and web wallets that work with this crypto. The full list can be found on the official website of developers https://www.dash.org/. To store large amounts, it is recommended to purchase a hardware safe Ledger, Trezor or KeepKey.
Dash mining is profitable only for ASICs. The release of new models involved in three manufacturers of devices on integrated circuits: Spondoolies, FusionSilicon and Strong. Also, there are several pools for collective mining on the network.
There is a reward for the signed block that is calculated according to a special formula built into the DGW mining difficulty adjustment algorithm. Those who own ASIC installations receive about 45% of the remuneration, in turn, the same amount is transferred to the master nodes. To the platform development fund goes about 10%.