Dash Endeavors To Become The Future Of Digital Money

[tungfa]

Dash Endeavors To Become The Future Of Digital Money

https://www.digitalcoinsexchange.com/bl ... tal-money/

Bitcoin is having a booming period right now. It is by far, the most successful virtual currency and there’s vaguely any other altcoin which is even close to surpass it. However, the competition is always there and many of its competitors are striving to make it happen somehow. Ethereum is perceived as the toughest competitor of bitcoin right now. Ethereum proved its calibre by releasing its digital token called Ether which happens to be the second most popular cryptocurrency as of now.

Nevertheless, another cryptocurrency called Dash aims to become the future of digital money in coming years by superseding bitcoin and all the other altcoins. Dash claims itself to be the most anonymous cryptocurrency in the market. Yes, even more anonymous than bitcoin. Dash undermines the anonymous nature of bitcoin transactions saying that the bitcoin is actually pseudonymous in nature and it can’t be considered completely anonymous. This is because all the transactions related to bitcoin are stored in a blockchain thereby making it visible to all the users within the network. Although, this is necessary to ensure a total transparency to the users, it can also prove to be precarious sometimes. Precarious in sense, that if there happens to be a rift, the entire transactional history of a person could be at stake. This is where Dash comes to the rescue. As a matter of fact, Dash was initially called, “Darkcoin” which boasted the highly anonymous nature of this altcoin. But later on it was changed to Dash which is loosely an acronym for Digital Cash.
More About Dash
Dash is an open-source P2P cryptocurrency that was launched two years ago on January 18, 2014. At the time of its release, it was initially termed as Xcoin which was changed to Darkcoin the following month. The term Darkcoin flaunted its highly anonymous nature. However, the Darkcoin team later realised that there’s much more to it apart from the anonymity. And finally they rebranded it as Dash on March 25, 2015.
Key Features Of Dash Latest Features And Enhancements
Over the recent years, Dash has materialized its actual vista and a potential to revolutionize the world of digital money. The Dash team has added several astounding features to the original Dash protocol over the past two years. Some of these new features are described below.
A Tiny Peek Into The Future
The Dash Team is firmly determined to take this cryptocurrency to a whole new level. The powerful masternode network developed by Dash is such that it can easily accommodate new features unlike many other cryptocurrencies. The Dash team is currently working on a new project called, “Evolution” which is a forceful endeavor of Dash to provide a new user-friendly interface to its existing users. According to Dash developers, this new project is definitely going to alter the future of e-commerce. And sure enough, it will be interesting to see that up to what level it turns out to be real.
Darksend: Dash uses the concept of Darksend in order to add privacy to the transactions. Darksend system integrates the similar inputs from multiple users to form a single transaction with multiple outputs.
Masternodes: The main purpose of using masternodes is to take out the anonymity patch of Darksend protocol. They are also used for the instant validation of transactions.
X11 Algo: X11 is by and large, a hashing algorithm used by Dash to ensure the fair dispersal of the processing power and Dash coins. This hashing algorithm was developed by Evan Duffield who happens to be the chief developer of the Dash core.
InstantX: InstantX service enables the masternodes to instantly lock the transactions in order to prevent the lag time in transactions. It also rejects the conflicting blocks and transactions.
Self-Governance: Self-governance is a decentralized process by which the masternode network automatically decides where to spend the money and where not to using the blockchain.
Self-Funding or Self-Budgeting: In order to tackle some serious issues like lack of funding, the funds are directed by masternodes to the support development right from the blockchain.