I have been a big fan of cryptocurrency since late 2016 when I came across some people talking about making profit through mining. Naturally I was confused as to what they meant and had to spend time researching what mining and cryptocurrencies were. Slowly I realized Bitcoin wasn’t the only cryptocurrency out there, and there are others that try to fix shortcomings with Bitcoin or add features to it entirely never seen before.
That’s when I came across Dash (short for Digital Cash). Dash had a very interesting proposition, it strived to fix many shortcomings of Bitcoin. Specifically, Dash wanted to enable faster transactions with lower fees and the ability to make your transactions much more private than on the public Bitcoin chain.
Introduction to how Dash works
The main exciting and innovative approach was the idea of Masternodes (MNs). These nodes form a second layer on top of the blockchain and offer additional services. The two most important services being InstantSend and PrivateSend.
InstantSend allows you to send near instant transactions by having the Masternode network confirm your transaction without requiring a new block to be mined first.
PrivateSend allows you to anonymize your transaction by having the Masternodes pool Dash from many users together and then sending your transaction, allowing for increased privacy and harder traceability.
Of course, the Masternodes have other jobs such as governance, which allows MN operators to vote on how Dash evolves and how its funding is spent.
Why use Dash?
However, now that you have been introduced to Dash, I’d like to continue the story of how I came to use it and why you should give it a try. When the 2017 massive price spikes began Bitcoin and many other blockchains had very high usage which slowed transaction confirmation times significantly and made fees extraordinarily high, at some points it could cost upwards of $15 to send one Bitcoin transaction.
I wanted to look for alternatives and landed on Dash, it allowed me to send cryptocurrency anytime, anywhere for very low fees and much faster than Bitcoin or other big blockchains. And this is where I suggest you investigate Dash, with the recent price increase of Bitcoin and Ethereum in July fees have started spiking up again, and Dash is starting to become much more appealing.
Additionally, it is always good to have extra privacy which you’ll get along with the big decrease in fees. Moreover, Dash isn’t just made for sending money around, Dash Core Group as well as many other third parties are actively using Dash and it’s features to help people worldwide, for example aiding people who are badly affected by the ongoing trouble in Venezuela. There are many merchants who accept Dash across many websites as well, and due to its lower fees, it means that some even offer discounts for using Dash too. This is just the tip of the iceberg for all things Dash can do, I suggest you read more and find how you can use and benefit from Dash.
How do you actually use Dash?
Lastly, it doesn’t matter if you want to use Dash if you don’t know how to use it. To use Dash all you will need is a wallet to store your Dash like how you hold money in your bank account and some Dash, simple as that. There are many popular Dash wallets out there. I suggest visiting the official Dash site at https://www.dash.org/downloads/ and selecting one of the many wallets there. From there all you will need is to get some Dash (I’ll cover this later in much greater detail) and send it to your wallet address (which is basically like your bank account number) and you’re good to go!
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