After a huge price run up in the past week Dash is now the third most popular cryptocurrency by Market Cap. While most people have heard of Bitcoin and maybe even Ethereum, Dash is still relatively unknown outside of cryptocurrency circles. So what is Dash?
A Little History
Dash was launched on January 18, 2014 as XCoin(XCO). It did not take long for the company to re-brand itself as the Darkcoin, which occurred in February of that year. It should be noted that the cryptocurrency industry was going through a rough patch at the time of the launch. The industry was filled with companies that were over-inflating the value of their cryptocurrency. And many businesses were tricking people into investing in their currency. In short, it was a hostile time to launch another currency.
The key to Dash’s growth was its commitment to transparency, which has been a guiding force since the company launched. Darkcoin decided to re-brand itself one more time on March 25, 2015 to Dash.
Why Does Dash Stand Out?
There is no doubt that Dash is relatively young, but it is increasing in popularity, which could be attributed to what makes it stand out.
The one thing that has plagued many electronic coins is their inability to offer privacy. This is the one issue that Dash and its team of creators have been working hard to solve. Its most promising innovation is the Darksend system. This system uses state-of-the-art computers called Masternodes. These computers capture transaction data from several sources and scrambles it. This action makes it hard for people to know where the coins are coming and going.
The system is not perfect because some governmental agencies can get into the system, but it is improving, and its effectiveness is better than other popular coins such as the bitcoin. Those who are worried about companies finding a public ledger where transactions can be analyzed and traced can rest easy. Privacy is an important aspect of Dash.
Perhaps, this is the reason why the Dash coin is becoming popular among those interested in cryptocurrency. The value of the coin is one of the highest in the industry, which shows that the Dash currency does have promise. It seems that their commitment to people and transparency may be paying off.