What is Dash? Explanation of the Dash coin
Dash is a cryptocurrency focused on fast, low-cost payments. The name comes from “digital cash” – digital money that allows users to make transactions worldwide within seconds. Dash was designed to address limitations of Bitcoin, such as slow transactions and higher fees. Although Dash is popular as a payment coin, Coinmerce does not currently offer Dash. However, there are comparable projects focused on payments, such as Litecoin (LTC), Bitcoin Cash (BCH), and Stellar (XLM).What is Dash?
Dash was launched in 2014 by Evan Duffield under the name XCoin. Shortly after, it was renamed Darkcoin, and eventually Dash – a name that better reflects its goal: fast and user-friendly digital payments. Dash runs on an open-source blockchain and combines features of Bitcoin with additional technologies that make transactions faster and more efficient. A key component is the masternode network, which enables instant transactions and enhanced privacy features.In summary
- Type of cryptocurrency: Payment coin (digital cash)
- Purpose: Fast, low-cost transactions worldwide
- Technology: Proof-of-Work Masternodes
- Launch year: 2014
- Origin: Derived from Bitcoin
- Key features: InstantSend and PrivateSend
Price and history of Dash
Since its launch, the price of Dash has experienced significant fluctuations, similar to many other cryptocurrencies. In its early years, Dash grew rapidly in popularity thanks to its focus on payment functionality and privacy options. Around 2017, Dash reached its highest valuation at the time, when it was seen as one of the most innovative alternatives to Bitcoin. Since then, the network has continued to develop, with a focus on speed, ease of use, and integration into payment platforms. Although Dash is less prominent than during its peak years, it remains an important player in the segment of fast, decentralized payments.What is Dash used for?
Fast payments and low fees
One of Dash‘s biggest advantages is transaction speed. Thanks to InstantSend technology, payments are confirmed within seconds. While Bitcoin transactions can take several minutes to confirm, Dash transactions are almost instant. Transaction fees are also very low, often just a fraction of a cent. This makes Dash attractive for users in countries where traditional payments are slow or expensive.Payments in practice
In some regions, such as parts of Latin America, Dash is used as a payment method in shops and restaurants. In countries with high inflation, Dash can serve as an alternative way to store value digitally or make fast payments without relying on banks. The network continuously works on partnerships with payment providers, enabling Dash to be used in apps and at points of sale that support cryptocurrency payments.How does Dash work?
Network, transactions, and confirmation
The Dash network consists of two layers:- Miners: process transactions and create new blocks using Proof-of-Work.
- Masternodes: special servers that enable features such as InstantSend and PrivateSend.
What makes Dash different from Bitcoin?
The main difference compared to Bitcoin is the addition of masternodes. These are run by users who lock up 1,000 DASH, contributing to network stability and governance.- InstantSend: near-instant payments without long confirmation times.
- PrivateSend: an optional privacy feature that mixes transactions to reduce traceability.
- Governance model: masternode operators vote on network development and funding.
Dash wallets: what should you know?
Wallet types and secure storage
- Mobile wallets – such as Dash Wallet or Edge Wallet
- Desktop wallets – offering more control and features like PrivateSend
- Hardware wallets – such as Ledger or Trezor
