DASH | What is Dash and how does it work?

DASH.ORG: Dash is Digital Cash – A revolutionary digital money system. Meet Digital Cash. Dash is Digital Cash You Can Spend Anywhere – Use Dash to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world.

Read: RIPPLE.ORG | What is Ripple, XRP and how does it work?

  

Your time is valuable. InstantSend payments confirm in less than a second. 

Protect your financial information. PrivateSend ensures your activity history and balances are private.

Security you can count on. Transactions are confirmed by 200 TerraHash of X11 ASIC computing power and over 4,500 servers hosted around the world. 

  

At Dash’s core is a unique fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain and masternodes are rewarded for validating, storing and serving the blockchain to users.

Masternodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks. 

  

In Dash, everyone has a voice and the ability to propose projects directly to the network. Anything you can do – from marketing to development – that helps Dash grow and improve can be funded.

This means Dash funds its own growth and adoption, consensus is guaranteed, and everyone is accountable to the network. Just submit a treasury proposal and present your idea to the network for funding and make your case, or if you operate a Masternode, be sure to vote! 

  

Thanks to incentivization, Dash’s network has grown to 4,100 masternodes since launch in 2014, meaning Dash’s peer-to-peer network is one of the largest in the world. More nodes means more secure services, and more capacity for end-users to access Digital Cash from anywhere in the world, 24/7. 

  

What’s next? We want digital currencies to be so easy to use your Grandma would use them. Dash Evolution will enable you to signup and access your Dash from any device and transact as easily as you can with PayPal, but in a fully decentralized way. Stay tuned…

DASH Mining 
The foundation of Dash is its blockchain, which is a decentralized ledger of all transactions that have ever taken place. This blockchain is secured through a consensus mechanism called “Proof of Work” (PoW).

Through a process called “mining,” people use specialized computers to solve extremely difficult math problems. If their solution is correct, they receive the right to add a new block to the blockchain. Once the network verifies that the problem was correctly solved, a new block is added to the blockchain and the miner is rewarded with Dash currency.

How to Start Mining ASIC Miner Hardware 
Specialized computers called Application Specific Integrated Circuits (ASICs) are designed to solve Dash’s Proof of Work problems with the greatest possible efficiency. Current Dash ASICs on the market include:
– ASIC Pinidea X11 Miner DR-1
– ASIC Pinidea X11 USB DU-1
– ASIC iBeLink DM384M X11
– ASIC X11 Baikal Mini Miner
– ASIC Baikal A900 X11

Guides (CPU/GPU) 
CPU/GPU Mining is no longer cost effective – be aware. This is a fairly simple procedure and examples will be given in order to achieve the fastest possible hash rate for your cpu, but remember that more optimized miners can exist, so I advise you to keep an eye out on mining sites such as these in order to keep up with the latest releases. CLICK HERE FOR MORE DETAILS.

Mining vs. Masternode 
Dash, like Bitcoin and most other cryptocurrencies, is based on a decentralized ledger of all transactions, known as a blockchain. This blockchain is secured through a consensus mechanism; in the case of both Dash and Bitcoin, the consensus mechanism is Proof of Work (PoW). Miners attempt to solve difficult problems with specialized computers, and when they solve the problem, they receive the right to add a new block to the blockchain.

If all the other people running the software agree that the problem was solved correctly, the block is added to the blockchain and the miner is rewarded.

DASH Debit Cards 
A range of debit cards are available for Dash. These cards work by prepaying in Dash, then withdrawing cash from an ATM or spending online or anywhere debit/credit cards are supported. Unfortunately, many of these cards are not yet available in the USA.

For an overview and review of all available and upcoming cards, including cards funded by the Dash budget system, see this article on Dash Force News.

– Shakepay is a virtual and plastic card backed by VISA. The card can be loaded with Bitcoin, Dash and Ethereum, and balances tracked in USD and EUR.

– Wirex offers a cryptocurrency wallet, payment card, money transfer and cryptocurrency sales. Dash is supported throughout the system.

– Spectrocoin offers an exchange, physical card, wallet and POS service. Dash, Bitcoin and Ethereum are supported, as well as over 20 major fiat currencies.

– Bitwala offers a debit card and payments service available in 45 European countries. Dash is supported via ShapeShift.

– The UQUID Dash debit card is backed by VISA and allows you to pay, simply and securely, in person, online, over the phone or through the mail.

– Dash has entered beta support on TenX. Visit TenX directly to test the card