DASH 101 - What is DASH Mining

 

What is DASH Mining?

A Dash Miner is actually computer - and it does what computers do very well, it runs calculations. In fact, it runs millions of calculations a second. These calculations are for accounting in the DASH network.

How DASH transactions work

Say you want to send some DASH to your friend. This transaction actually involves a broadcast of data the DASH network:

Hey DASH network , I would like to transfer 1 DASH to my friend Jake.

This signal is received by what is called a "master-node". A master node is really just series of computers and their function is to take this signal and then relay it to a network of miners (also computers).

DASH miners create Ledgers

The miner then collects all the calculations that's taking place around the world in real time and generates a ledger. This ledger contains all these transactions in a neat and tidy format, very much like what an account would do at the end of each year. Generating these ledgers is hard work, and hence the DASH network pays the miners every time a ledger is generated. This is very much like the real world where accounts are paid for their work generating accounts. The DASH paid by the network is from two sources - transaction fees and newly minted DASH.

In the DASH network, ledgers are generated every 1 minute and they are stacked on top of each other, recording the whole history of all the transactions that have taken place in the DASH network.

Ledgers are called the Blockchain

As ledgers are stacked on top of each other, they look like a "chain of transactions". For this reason, ledger in the DASH world are called the "blockchain". Every DASH miner in the world contains a copy of the blockchain, and hence they contain a copy of every transaction that has ever taken place in DASH.