Dash is considered by many to be one of the most promising altcoins. To create it, we managed to successfully select a team of programmers who are active and highly qualified. It is one of the successful forks of the world famous cryptocurrency, the ancestor of digital money, Bitcoin. The prospects of the idea were appreciated by members of the cryptocurrency community. They recognized the new variety of coins as a worthy successor to the best traditions of alternative monetary units.
We launched the system a year and a half ago. This time was enough for Dash to gain an impressive level of popularity and enter the top five leaders of the cryptocurrency world. Like the bulk of digital money, officially, the Dsh cryptocurrency, according to the creators, has already switched to normal operation.
At the time of launch, the cryptocurrency was called Xcoin. It happened in early January 2014. However, at the end of January of the same year, it was called Darkcoin. And it was under this name that she became popular.
Evan Duffield, who wrote the code on his own, didnt go well right away. However, soon a full-fledged team of specialists was gathered around him. This allowed us to release a number of new releases aimed at improving the mechanism responsible for the DarkSend privacy and optimizing the Masternode network.
Autumn was marked by the fact that the Dsh cryptocurrency went through a security audit, which was carried out by the renowned expert Christov Atlas. Only after that the source code was opened. A little later, the implementation of the InstantX instant transaction functionality was announced.
The "dark horse" in the world of cryptocurrencies was rebranded last spring. Its essence was to change the name to Dash, without making any changes to all the fundamental parts of the project. The ambition to occupy the first position in the list of confidential alternative currencies also remained unchanged.
The Dsh wallet is a client program with its own characteristics, which is based on the well-known Bitcoin QT wallet. And therefore, it will be easy for everyone who has dealt with him to master the Dash-wallet.
The wallet contains the most famous feature of the Dash cryptocurrency - Darksend. Its functionality allows you to conduct transactions anywhere in the world, with complete confidentiality. Thanks to the InstantX feature, transactions go through almost in the blink of an eye. This is also facilitated by the capabilities of the Masternode network. In this case, the confirmation of the transaction occurs even before it is entered into the blockchain by the miner.
The Dsh wallet has an interface translated into a large number of languages. To select the desired option, just do the following:
Go to the Dash-QT menu.
Select the "Settings" item.
Hover over the "Display" section.
Stop at "Interface language".
Click on the desired option.
The Dash cryptocurrency has an official website, on the pages of which you can:
Download the Dash wallet program.
Get information about developers.
Find detailed information on the positives of Darksend.
The splash screen that opens when the Dsh wallet is loaded is nice looking and modern. It is very similar to the classic Bitcoin client, but it has its own characteristics. The large button "Start Auto Move" is striking. There are also "Try it manually" and "Reset" options. In addition, functions related to Darksend technology can be called from the wallet.
After the program is fully downloaded, it will need some time to complete the synchronization. But, after that, the client can use all the available advantages of the system, which is faster and more secret than Bitcoin. True, it cannot be called 100% private, because cryptography does not provide absolute reliability to the system.
The Dsh cryptocurrency is based on the two-tier architecture of its distributed network. Then, as at the heart of the traditional Bitcoin peer-to-peer network, there is a consensus between nodes with equal rights. Its presence allows you to record information about verified transactions in a distributed ledger (blockchain).
In the two-level Dash network, the principle of operation is different. The top level of consensus is formed by supernodes in the real time interval. Thanks to this, the protocol is accelerated, however, while you have to put up with a slight increase in security risk. After that, the procedure of committing transactions that have received approval by masternodes into the blockchain takes place.
The prospect of using the two-level Dash network can be the introduction of the following solutions:
Distributed storage system, which includes:
- Lists of transactions.
A distributed application system consisting of:
Support for third-party projects.
The prospect of further development of the new cryptocurrency depends on many factors, of which the recently introduced voting system should be highlighted. This new instrument in the world of alternative currencies has to prove its potential. However, the very principle of using the institution of voting to determine the priority directions of the systems development is already a huge step towards progress. Although, this system cannot be called completely democratic. After all, ordinary users of the Dsh cryptocurrency network do not have the right to vote, but everyone has the right to come up with a proposal for development.
The total number of coins generated can reach 22 million. Although, this is a purely theoretical figure. Their actual number, according to the calculations of the developers, will be from 16 to 18 million conventional units. Today it has already been announced about the issue of about 5.6 million Dash. Based on this, the total capitalization of the electronic currency is approximately 20 million US dollars. This is based on the fact that for one Dash they give about $ 3.
According to stock statistics, every day, transactions are concluded in which Dsh cryptocurrency Dsh participates in an amount exceeding $ 50 thousand. Every year, there is a decrease in the emission of coins by about 7%, due to which its distribution is smoother than that of LTC and Bitcoin. It takes no more than 2.6 minutes to complete the calculation of the block.
By analogy with Bitcoin, Dash is divided into 100 million parts. Unofficially, a number of users have named them Duffa, after their creator. Commissions for transactions, with their subsequent distribution among the miners, are calculated in the same way as in the case of Bitcoin.
Support for InstantX technology began with the Dash network with kernel version 0.11.1. With this mechanism for making instant payments, the confirmation of the transaction does not come from the network, but from 10 random masternodes. They come within a few seconds. They do not contain one hundred percent guarantee that the payments went through. Further, transactions are combined into blocks and standard confirmations are obtained, similar to those available in the Bitcoin network. It could be argued that InstantX is some form of trusted payment when randomly selected intermediaries are used.
Where Bitcoin is legal, Dsh mining also has official status. The difference is that in order to achieve confidentiality in the case of Bitcoin, additional measures must be taken, such as choosing a variety of addresses for each transaction, IP masking, and some other methods. All this is present in Dash initially.
Darksend is disabled by default. This is due to the fact that for using it individually, an insignificant fee is charged. After connecting it, it becomes possible to set from two to eight rounds, during which the coins are mixed. At the same time, you can set the number of coins involved in mixing. To start using DarkSend, just press the "Start mixing" button on the first screen of the wallet.
Privacy is enforced in advance, in the background. Before mixing, a denomination is made, which means a breakdown of the entire amount into single-digit denominations: 0.1, 1, 10, 100 Dash. Subsequently, each of these standard notes independently participates in all mixing rounds.
Dsh mining uses a combination of X11 multi-hashing algorithm and DarkGravityWave complexity control mechanism. Thanks to the latter, it is possible to change the difficulty quite smoothly. At the same time, there are fewer jumps in the currency price. To calculate the block reward, which is in direct proportion to the difficulty, the formula is 2222222 / (((Difficulty + 2600) / 9) ^ 2). The reward is currently approximately 6.0 Dash per block.
The X11 algorithm is a combination of eleven hashing algorithms. To subjugate the network, attackers will have to hack all of them. And the probability of this is negligible. Even in cases where hackers manage to break several algorithms, developers always have time to replace the compromised functions.
Currently, mining of Dash takes place using the computers central processing unit or graphics processors installed on video cards. Moreover, there is a significant preponderance towards the latter.
For mining using GPUs, if the X11 algorithm is used, the power consumption is reduced by 40-50% when compared with the work on the Scrypt algorithm. The heat dissipation rate of the card is reduced by about the same.
Masternodes are the main nodes of the Dash network. Its stability and security depend on them. And it is they who are used to perform service functions. So, it is up to the share of masternodes to be the guarantors when confirming a transaction performed using InstantX, even before they are included in the blocks. Each masternode also has to act as a mixer, mixing user transactions while the Darksend engine is running.
Masternode operators are encouraged by the system. This is clearly seen from the fact that it is on their share that about 50% of the total number of bonuses paid to the creators of new blocks falls.
The maximum number of masternodes is naturally limited, expressed by the number of already mined Dash. Today there are approximately 7,300 of them. This means that more than 40% of all functioning coins are in a blocked state to ensure the normal functioning of the supernodes.
It would seem that because of this, there is a deficit of Dash, which will provoke an increase in their value in exchange trading. But at the same time, developers have to come to terms with the role of hostages of the existing system. After all, if there is a change in the value of the collateral, then the market can be flooded with a significant amount of Dash, and this can provoke significant fluctuations in the rate.