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Dash is rated as one of the world’s top-10 cryptocurrencies and, as of 2017, is a member of the $1billion market-cap club. Created in 2014, it was designed, by Evan Duffield, for speed as well as anonymity.
It was popular from its launch in January 2014, with 1.9 million coins – the equivalent of almost 10 per cent of its total supply of 22 million – mined within the first two days.
It wasn’t long before many organisations opted for Dash (a portmanteau of ‘digital cash’) as a method of payment over Bitcoin, the original crypto. What is the appeal?
On top of Bitcoin’s offering, Dash has instant transactions (InstantSend), and private transactions (PrivateSend). It also operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses to perform work that adds value to the network. This governance and budgeting system makes it a decentralised autonomous organisation (DAO).
Dash, which was initially called XCoin and then Darkcoin, soon gained mainstream acceptance. By August 2017 some 300 businesses around the world were using it – including Apple (for App Store purchases).
Many more are expected to join them; towards the end of 2017 the Dash project – which has been likened to LinkedIn – partnered up with a leading Blockchain Web Services (BWS) provider to launch a grant programme for startups and other more established companies seeking blockchain-based solutions in enterprises and new markets.
“Unlike Bitcoin, Dash can be sent and received instantly, with zero risk of double payment or theft, and it boasts tremendous stability in its value,” says Ryan Taylor, who succeeded Mr Duffield as Dash’s Chief Executive Officer in April 2017.
“Dash has rapidly become the number-one digital currency for payments because of our cheap and instant transactions, anywhere in the world. Dash is in many ways a better Bitcoin.
“It is quickly incorporating payments industry best-practices that the digital currency industry has lacked. Dash transactions lock within a couple of seconds due to our revolutionary second-tier masternode network, making Dash acceptance feasible at the point of sale and online, just like credit cards.”
Dash, which hit a high of $1,370.16 per coin in December 2017, is one of a number of top cryptos available to trade and/or buy outright on global trading and investment platform eToro.
Their motto is “Cryptos Needn’t Be Cryptic” and the team has produced a useful short education video to help investors seeking more information about Dash.
Pros and cons of trading on eToro
Pros
•Straightforward, user-friendly, trustworthy and experienced platform
•Instant execution of trades, thereby locking in a price
•Ability to use CopyTrader and other innovative tools
•Huge cryptocurrency community that shares knowledge and helps each other
•Fast execution
•Regulated company
Cons
•Only nine cryptocurrencies offered by the platform, currently
•Users are unable to withdraw the cryptocurrencies directly
•Users’ cryptocurrencies are held by eToro
Want to learn more about trading Dash and other cryptos? Visit www.eToro.com now, and join the online global community.
All trading involves risk. Only risk capital you’re prepared to lose. Past performance is not an indication of future results.
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