The Rise of Digital Cash or DASH
The latest cryptocurrency news is about our silent dark horse, i.e., DASH.
It’s been a great week for DASH holders around the world. Getting listed on Korea’s biggest exchange Bithumb has pushed the price to close to $400 with the Korean exchange accounting for almost 60% of the volume in the last 2-3 days. In fact, it has been a great year for DASH holders since the cryptocurrency has gained over 3500% since January, 2017 when it sat at $11. What remains to be seen is it can sustain this price for much longer, or even cross $500 in the near future.
DASH is at number Six position in the list of Top Ten Cryptocurrencies with the market capitalization of $2,865,239,747. The price of DASH at the time of publishing this article was $355 on Poloniex.
DASH or Digital Cash has a unique model for ensuring the network which involves Masternodes along with the traditional Proof-of-Work (PoW) concept. In addition to mining rewards, users can also run special servers called Masternodes which enable additional features like PrivateSend (coin mixing) and InstantSend (faster transactions).
Therefore, DASH has a two-tier network where the first tier works in the same way as Bitcoin: miners find blocks and post transactions to the Blockchain network. The second tier, comprised of Masternodes provide the additional features described above. For running Masternodes, users are rewarded in DASH with the current ROI being around 8.4%. To run a Masternode, a user must have 1000 DASH and employ a virtual private server (VPS) from companies like Amazon Cloud Services, Microsoft Azure, etc. The 1000 DASH aren’t locked away and hence, DASH is not Proof-of-Stake (PoS) but instead this model is called Proof-of-Service.
This also creates a unique situation where a lot of the supply is locked up in Masternodes creating scarcity thereby raising the price even further. Despite Masternodes and PrivateSend, DASH is not great for privacy because addresses can be viewed on the explorer and determined adversary can deanonymize the transactions. So, in summary, DASH offers fast transactions with low fees but if privacy is your main concern, you are better off using Monero (XMR).
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