Dash is essentially digital cash that you can spend wherever you want. With Dash, you can make private payments either in stores or online via the open-source platform that is completely secure. The platform is hosted with help from thousands of users worldwide. Payments with Dash are instant and completely private. InstantSend payments will confirm in under a second, so there is no concern about wasting time.
Who Is Behind Dash?
The Network appoints the Dash Team, which receives monthly funding from the blockchain to keep developing the core technology of Dash. The CEO is Ryan Taylor, while the CTO is Andy Freer. UDJINM6 is the lead developer, and Holger Schnizel does quality insurance, automation, and testing. Other members of the management team include Daniel Diaz for business development, Phillip Engelhorn for press and multitool, Fernando Gutierrez for multitool, Robert Wiecko as project manager, and Evan Duffield as strategy advisor. There are two dozen additional developers, plus 15 more team members dedicated to testing and support.
Dash Is Private and Secure
Dash keeps all information private thanks to PrivateSend, which ensures balances and activity history are both private. It is also incredibly secure, as every transaction is confirmed by the 200 TerraHash from X11 ASIC computing power, plus more than 4,500 servers with hosting around the world.
What Network Does Dash Use?
Dash relies on a next-generation P2P network. The core of Dash uses the unique peer-to-peer network that is fully incentivized. Miners secure the blockchain and receive rewards for doing so. They also receive masternodes to reward validating, serving, and storing the blockchain. These masternodes are a new type of network servers working in incredibly secure clusters known as quorums. These allow for a range of decentralized services, including privacy, governance, and instant transactions, without having to worry about low-cost network attacks.
Among the Biggest P2P Networks Worldwide
Dash launched back in 2014. Since then, it has grown to include 4,100 masternodes. This is largely due to incentives and means that the peer-to-peer network is among the biggest in the world. The large number of nodes improves the capacity for end-users to access their Digital Cash 24/7, no matter where they are. It also improves the security of services.
Is Dash Self Governing?
Dash prides itself on being the first self-governing and self-funding protocol. Every user of Dash can propose projects to the network. You can get funding for anything that will improve and grow Dash, including development, funding, and everything in between. Essentially, Dash funds its adoption and growth with everyone accountable to the network. It is simple to submit a proposal and get funding for your idea.
What Is the Dash Network Status?
At the time of this article, the Dash market cap was $2,150,980,474 USD. There were 4,709 masternodes, with the most occurring at any point being 4,729. You can also view specific statuses for various exchanges on the Dash website’s Network tab to track the currency in real-time.
What Is Dash Evolution?
One of the next steps in the works for Dash is Dash Evolution, which will make Dash even easier to use. You will be able to sign up or access your Dash account from the device of your choice and complete a transaction with as much ease as you would with PayPal. When ready, Dash Evolution will bring digital cash into the reach of those with all levels of comfort with technology, even the elderly with minimal tech experience.
Dash Evolution will allow anyone to create an account using the blockchain. They can then add contacts and send payments by name. It will be possible to buy from mobile apps or websites using Dash with just one click for convenience and time savings.
Evolution will include a light wallet of a new variety that includes browser compatibility and SPV security. The wallet connects right to the peer-to-peer network of Dash, complete with its more than 4,000 nodes. Evolution will let users connect directly with various merchants to buy items.
They will also be able to set up automatic debits for subscription services. You can search for any merchant integrated into Dash on the blockchain. You can then rate purchases, letting the community choose their vendor in an informed manner.
Dash Evolution will be simple for merchants to use, as well. The decentralized API is simple, letting merchants add Dash payments onto their mobile app or website in just minutes. There will be no need to hire a third party to take care of customer payments. Instead, merchants can build a direct relationship with clients via the blockchain.
The alpha version of the Dash Evolution should hopefully be released near the end of this year. There will also be more releases before that release date, so keep your eyes peeled.
Dash Wallets
There are a number of official Dash wallets which you can download, including Dash Core, Electrum, Mobile Wallets for iOS and Android, Web Wallet, Paper Wallet and also both the Trezor and Ledger Hardware wallets support Dash.
How Do You Use Dash?
To start using Dash, just download the latest Dash client. You can then buy or trade dash via a long list of exchanges. You also can get it from one of the brokers, including Changelly, BitPanda, Shapeshift, and Magnetic Exchange. In the case of buying or selling larger quantities of Dash, a vendor can pair the buyer and seller to prevent price slippage. Dash is available on dozens of exchanges, including Bitfinex, Kraken, and Poloniex.
At the moment, the range of merchants accepting Dash for payments is growing quickly. You can use it for debit cards, email providers, VPN providers, VPS and hosting, graphic and web design, gift cards, games, online casinos, a range of web stores, paying certain bills, and precious metals.
Once you have a Dash wallet setup, you will want to purchase some DASH to hold in it. You are not able to purchase Dash directly with “Fiat” currency so you will need to first purchase another currency – the easiest to buy are Bitcoin or Ethereum which you can do at Coinbase using a bank transfer or debit / credit card purchase and then swap that for DASH at Changelly.
Register at Coinbase
For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines. Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.
To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.
Coinbase will then send you a link via email to verify your email account, once you click the link in the email you will be taken to a verification page. You must then add your phone number and upload a photo of your ID – this can be a passport, driving license etc. You also have to add your payment details, so you can add your bank account or a debit or credit card as required – after a short period your account will then be verified and you can then make your first purchase.
Purchase Ethereum or Bitcoin
For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.
You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.
Using Changelly
The next stage, is to use the Changelly website to swap your Ether for DASH. Use this link and enter how many Eth you will like to convert and it will show you how many DASH you will receive in return, if you are happy then go ahead and click the green “Exchange” Button.
On the next screen you will be prompted to register an account which you can do so by using a social media account or entering your email address.
Once that’s done, you will be taken to a page showing the transaction details – check it over and make sure the amounts are correct. Once you are happy click the green “Next” button.
On the next screen, you will be prompted for your Dash wallet address where you will receive the coins. Paste this into the box and click the green “Next” button.
You will then be shown a final confirmation screen, again, make sure all details are correct before proceeding.
Changelly will then provide you will an address to which you mush send your Ether, so copy the address that they give you and then head back to your coinbase account.
Send Your Ethereum or Bitcoin
In Coinbase, click the “Accounts” and Select your Ethereum Wallet on the left and then click “Send”.
Enter the address that Changelly gave you before.
Click “Continue” and then you may have to confirm the transaction with your email or phone if you have 2 factor authentication enabled.
The transaction will now be sent over the Ethereum network and will take a short while to arrive – you can check in your Changelly account where it will notify you of the following steps :
- Waiting for payment
- Exchanging
- Sending to your wallet
Once it’s complete a confirmation message will appear on the screen saying “Transaction Complete”. You can now check your Dash Wallet where you can confirm you now own your DASH.
Conclusion
Dash can provide a nice alternative to existing services by combining the ease of instant transactions with the versatility of digital cash. It seems very simple to use. In addition, based on its previous expansion rate, Dash will likely continue to grow. As the users increase in number, more merchants will accept it as payment and more buyers will choose to make purchases using it, dramatically increasing the usefulness of the platform.
Useful Link
- Official Website
- Official Blog
- Dash Forums
- YouTube
- Google+
- Github
- Bitcointalk Announcement
- Coinmarketcap
