In the face of increased geopolitical uncertainty, investors are bullish on Dash, a fast-growing altcoin.
At the time of writing this report, Dash was trading for $118.7 with a daily volume of $696 million.
Dash is up 10.42% for the day. The 71st crypto has a market valuation of $1.3 billion and a circulating supply of 10,634,301.
- Dash is an open-source blockchain and cryptocurrency designed to offer fast, cheap global payments through a decentralized network.
- The white paper for Dash claims it aims to improve upon Bitcoin by providing stronger privacy and faster transactions.
- Digital cash, whose name derives from the word “digital,” was created in January 2014 by forking Litecoin.
- Since Dash went live, it has gained features such as a two-tier network with incentivized nodes, including “masternodes,” and decentralized initiative governance; InstantSend, a feature which allows for instant payment settlements;
- 45% of Dash’s rewards go to miners, 45% to masternodes, and 10% to its decentralized governance budget.
In order to mine Dash coins, Proof of Work consensus is used with an X11 hash function. Typically, a coin is mined in two and a half minutes.
Dash’s governance is facilitated through its DAO. Once a user has 1,000 DASH tokens, they become masternode owners. By validating transactions and voting on proposals for improving the ecosystem, these masternodes act as regular nodes.
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