Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
What is Dash (DASH) cryptocurrency? History of appearance, advantages and disadvantages, project development forecasts
Total capitalization (as of September 3, 2019): $726.5 million
Trading turnover (24 hours): $183,312,528
Dash is an international cryptocurrency, as well as a payment system based on the Bitcoin code. Dash gained its popularity with the ability to make international payments completely anonymously with excellent speed. Funds are credited to the recipient's account instantly. This cryptocurrency is used by many shops, companies and individuals.
Dash appeared in connection with the invention in 2014 of a two-level block architecture that could quickly deploy the entire system. The stability and security of the network are provided by masternodes (network nodes). They are responsible for the entire functionality of the service, as well as their task is to mix transactions of other users
Those who can manage masternodes have certain advantages, such as receiving half of all rewards for generating new Dash coins.
The issue of DASH was distributed so that 10% of all issued coins are directed to the development of the project.
For those who want to create a new masternode, you need to provide a guarantee in the form of 1000 Dash coins on the account. If the owner spends these funds, his masternode will be turned off. Such a high amount of collateral is necessary to protect the system from attacks and pests who want to take control of the entire system or part of it and influence the vote. The possession of a large number of coins by one person is dangerous by the rapid growth of their value. Dash does not prohibit the creation of new masters, but strictly monitors the ability of participants to control the network.
The number of masternodes directly depends on the number of mined coins. Today, 40% of all Dash coins are not circulating in order to create a shortage of coins and increase their value.
Anonymous payments in the Dash system allow users to transfer funds, pay for goods or services, invest or earn on the difference in rates.
The disadvantage of Dash can only be considered that it has much fewer users than Bitcoin, and you will have to spend money on commissions when transferring. But judging by the rapid growth of users thanks to continuous improvements, this shortcoming is temporary.
Dash entered the top 10 cryptocurrencies in the first six months after its creation, and continues to hold a strong position.
Benefits of Dash
- New two-tier architecture of the block, with the help of which important updates are introduced into the system;
- Complete anonymity – all traces of transactions are erased;
- Technology of distributed confirmation of transactions, which saves time;
- Commissions are minimal or non-existent.
