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What is DASH Coin and how does it work?

by Financial Economy

Dash Coin is a crypto currency launched in 2014 that allows low-cost financial transactions without the need for any central authority. It is possible to make financial transactions with this crypto currency in the DASH ecosystem to which it belongs. Developed by Evan Duffield, the main purpose of the system is to perform financial transactions with low cost and high confidentiality. Detailed information about what is DASH Coin and how it works is in the rest of the article. You can browse here for information about Internet Computer (ICP).

What is DASH Coin and how does it work?

Dash coin, which was first introduced in January 2014, does not require any central authority like many other digital currencies, and it also provides other special advantages to its users. This crypto currency, which was called Darkcoin when it first came out, later changed its name to Dash, which is a combination of the words Digital Cash. Dash Coin, which is open source, also has the feature of being an altcoin that allows unmonitored transactions. The DASH ecosystem, which has an autonomous structure, has a mechanism and functioning by which blockchain decisions are made through the system called Masternode.

It should be noted that Node, which means network node, which is frequently encountered in software, has a confirmation function within this system. These Nodes, called masternodes, create a copy of the transactions on the blockchain, back up the messages or verify the transactions made on the network.

What is the difference of Dash from Bitcoin?

It is separated from Bitcoin by dividing the transactions made within Dash into two. It divides its transactions into Instantsend and PrivateSend, namely instant transactions and private transactions. In this way, transactions that take place on the Dash network are grouped, preventing transactions from getting mixed up, and enabling faster user transactions. In addition, Dash differs from Bitcoin in terms of administration.

Can Dash Coin be mined?

Dash coin is a formation that always aims to have different features within itself and tries to attract users with these features. We can also see this different feature effort in Dash coin mining. It reveals the Dash coin X11 algorithm, which adapts itself by changing the Proof of Strake algorithm used in Bitcoin mining. Thanks to the Dash coin X11 algorithm, it allows its users to mine faster.

For details: https://en.wikipedia.org/wiki/Dash_(cryptocurrency)

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