The best way to describe DASH (DASH) is as a cryptographic system that is based on the blockchain – controlled by a decentralized community and used as a private currency trading on the crypto market.
According to many, DASH’s basis is very similar to Bitcoin, mostly because the cryptocurrency uses a blockchain database when coordinating the updating of values between individuals who are untrusted. Initially referred to as Darkcoin, the creation of Dash is governed by its masternode owners.
What makes Dash different from other cryptocurrencies is its Masternode network. This network enables Dash to achieve great innovations that other cryptocurrency can’t adopt at the moment, for example, PrivateSend, InstantSend and the budget system of Dash. Its masternode network really tries hard to solve the problems that are holding some of the other cryptocurrencies back and we can see that some of them are even solved now such as privacy concerns, double spending, lack of true governance.
In May 2017 the altcoin reached $1 billion in market cap and was officially accepted as a very successful cryptocurrency. This cryptocurrency is actively implementing an upgrade to its InstantSend system and potentially making all transactions instant, permanent and secure. This marks the first time that the altcoin is working on a system like this – and a major step towards making cryptocurrency usable for regular merchant transactions. The technology also includes a deterministic masternode list derived from the information found on the blockchain itself. This enables advanced privacy features used on mobile devices without trusting another person.
Also, the cryptocurrency became a favorite among crypto enthusiasts due to the number of partnerships and steady growth. The altcoin is also great because it follows the market trends and still manages to retain a stable price action.