Transactions of Dash are 8 times faster than transactions of Bitcoin

Representatives of the crypto community have long been thinking about whether bitcoin can be replaced with anything, because as payment means “the main cryptocurrency” did not take place at all – transactions are expensive and slow. Founders of Dash from the very beginning sought to create such a system that would be most convenient for individuals and legal entities and could become a platform for international transfers.

Now, this cryptocurrency is ranked 11th in the CoinMarketCap’s capitalization ranking, which was promoted by the increased interest of the participants in the crypto, and large investors. Head of Dash Core Ryan Taylor is confident that the current price of this cryptocurrency is backed up by its ability to conduct transactions quickly, without failures and relatively cheap.

Scalability hinders cryptocurrency

Scalability or the desire of a large number of people to send transactions simultaneously – to date is one of the most serious problems of bitcoin. When there are a lot of transactions, users are forced to raise the commission to make the transaction generally – in peak periods the commission size reached several tens of dollars, which, of course, is unacceptable. Therefore, many online businesses that claim to accept crypto-currencies are forced to abandon bitcoin and switch to Litecoin or Dash.

A few figures: a block in a network of 1MB bitcoin is formed within 10 minutes, and a block in the Dash network is generated for 2.5 minutes, while its size is 2 MB. That is, Dash transactions are 8 times faster than bitcoin transactions. Also, the creators of Dash assure that the speed will continue to increase since 60 developers are working on improving the protocol.

Dash has an autonomous decentralized management system

The Dash ecosystem was created self-managed, it finances developers and covers the main expenses. To date, Dash DAO consists of three independent organizations: Dash Core, Dahs Force, and Dash Labs.

“At the moment, the owners of enterprises that produce microchips for mining receive a fee for processing transactions. The consequence of this is a significant degree of centralization of mining. We are striving to develop mining systems with the open architecture. This will make eco-loans more transparent, and in this case, the production of microchips will be available to many, “said co-founder Dash Evan Duffield.

Representatives of the crypto community have long been thinking about whether bitcoin can be replaced with anything, because as payment means “the main cryptocurrency” did not take place at all – transactions are expensive and slow. Back in 2014, a “bitcoin substitute” called Dash was created (the name comes from two English words digital (digital) and cash (money)). Founders of Dash from the very beginning sought to create such a system that would be most convenient for individuals and legal entities and could become a platform for international transfers.

Now, this cryptocurrency is ranked 11th in the CoinMarketCap’s capitalization ranking, which was promoted by the increased interest of the participants in the crypto, and large investors. Head of Dash Core Ryan Taylor is confident that the current price of this cryptocurrency is backed up by its ability to conduct transactions quickly, without failures and relatively cheap.

Scalability hinders cryptocurrency

Scalability or the desire of a large number of people to send transactions simultaneously – to date is one of the most serious problems of bitcoin. When there are a lot of transactions, users are forced to raise the commission to make the transaction generally – in peak periods the commission size reached several tens of dollars, which, of course, is unacceptable. Therefore, many online businesses that claim to accept crypto-currencies are forced to abandon bitcoin and switch to Litecoin or Dash.

A few figures: a block in a network of 1MB bitcoin is formed within 10 minutes, and a blockchain in the Dash network is generated for 2.5 minutes, while its size is 2 MB. That is, Dash transactions are 8 times faster than bitcoin transactions. Also, the creators of Dash assure that the speed will continue to increase since 60 developers are working on improving the protocol.

Dash has an autonomous decentralized management system

The Dash ecosystem was created self-managed, it finances developers and covers the main expenses. To date, Dash DAO consists of three independent organizations: Dash Core, Dahs Force, and Dash Labs.

“At the moment, the owners of enterprises that produce microchips for mining receive a fee for processing transactions. The consequence of this is a significant degree of centralization of mining. We are striving to develop mining systems with the open architecture. This will make eco-loans more transparent, and in this case, the production of microchips will be available to many, “said co-founder Dash Evan Duffield.

Masternodes

The decision to direct the development of the Dash ecosystem takes the so-called master paths. Any cryptocurrency user can become an operator of the master code if he has 1000 Dash coins. After the next block is generated, the reward is divided between the miner and the operator master in the proportion of 45% and 45%, and the remaining 10% goes to the so-called “treasury.”

The fate of the funds from the treasury is decided by the owners of the workshops by means of voting, the results of which are preserved in the detachment. The project for which the majority votes will be accepted and its initiator will automatically receive funds from the treasury for its implementation.

This system of self-government has shown its effectiveness, as the speed of decision-making is high, and work on their implementation is being implemented quickly.

What is PrivateSend?

Everyone knows that in the bitcoin network it is easy to trace the addresses of the purses of the recipient and the sender. In the Dash network, it is possible to hide transaction information using the PrivateSend option. With this option, several different transactions are intermixed, the chain of senders and recipients is broken, and it is impossible to open their addresses.

The amount that was sent before mixing is divided into discrete denominations of 0.01 DASH, 0.1 DASH and so on. After that, the master wizards mix these values with the denominations of transactions of other users. After these blending, the sender’s address cannot be tracked.

Dash Evolution

The creators of Dash set global goals, they want to implement the Dash Evolution platform. The purpose of this platform is that every person, even without special knowledge of crypto-currencies, is able to make payments. The transaction mechanism will be extremely simplified, and the platform will be available on a variety of devices.

Ryan Taylor

Another reason why Dash should pay attention to investors is its executive director Ryan Taylor. This person is a real expert in the payment industry with 15 years of experience. He worked as an analyst in investment funds, which dealt with the management of finance in the amount of $ 20 billion.

Of course, to date, by capitalization, Dash is losing a lot to bitcoin ($ 5 billion vs. $ 165 billion), but given the clear advantages of Dash, there is the reason to believe that this gap can be substantially reduced in the foreseeable future.

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