10 Interesting Facts About Dash That You Probably Didn’t Know

 The moment someone mentions cryptocurrency, the first thing that comes to our mind is Bitcoins! But did you know other cryptocurrencies are gaining fast popularity, and are being used worldwide for trading? One such cryptocurrency is Dash, which is now considered one of the top growing cryptocurrencies.

Presenting you 10 very interesting facts about Dash, that you probably didn’t know and something that can also be the guiding force for you to buy Dash in India.

Fact 1: Dash was originally called “Xcoin (XCO)” when it was released by Evan Duffield first in the year 2014 on January 18^th. Soon after, it was renamed to “Darkcoin” which later changed to “Dash” in the year 2015 on March 25^th. The name Dash is a combination of two important words of the crypto world “Digital” and “Cash”.

Fact 2: Dash is also built on the renowned blockchain technology that even Bitcoin uses. Dash was released to counter the incompetence of BTC, using significantly improved technology, to provide the people trading with Bitcoins with a better solution. Since it shares the same codebase as Bitcoin, it remains compatible with all merchants, wallets, and even crypto exchanges that were written exclusively for Bitcoins. Just like Bitcoin, Dash can also be used for receiving and sending payments but in a quicker fashion.

Fact 3: The unique model involving ‘Masternodes, PrivateSend, and InstaSend makes Dash more private with higher transaction speed when compared to Bitcoins. The PrivateSend service of Dash is what adds the privacy feature to Dash so that it can’t be back-traced and even the identity of the user can be masked without revealing it to others.

Fact 4: One of the most successful services of Dash is InstaSend, which makes it highly scalable and adaptable. Unlike Bitcoins, the normal Dash transactions go through in just 2.5 seconds, and InstaSend gets through almost immediately! There is an extra cost involved in availing of this service, however, it is worth it.

Fact 5: Unlike Bitcoin, where 100% of the reward goes to the miners, of the total network’s block rewards, 45% goes to the miners for security, another 45% goes to the masternodes for high-level functioning of the InstaSend and PrivateSend and the remaining 10% goes back to Dash. The accumulated funds are used to make further improvements and growth of Dash crypto. This substantiates that Dash is self-funding crypto, that has the ability to keep evolving and enhancing. Even with 45% of the block reward being sent to the miners, mining Dash is still highly profitable and they make significant gains through it.

Fact 6: Dash follows a self-governing, democratic protocol, this means when a participant puts up their proposal on the usage of the funds, all the other participants review the proposal and cast their vote supporting it or rejecting it. Based on the majority the implementation decision is taken.

Fact 7: Dash employs one of the most powerful, strong, and secure crypto algorithms called X11 designed based on hashing functions. Since it is more secure than  Bitcoins, Dash is aiming to become a cryptocurrency that can be used for daily transactions. Keeping this vision in mind, Dash expanded its venture into economically distressed country Venezuela, thus becoming the first crypto to enter the country.

Fact 8: Dash can be easily purchased through crypto exchanges in India when compared to many other lesser-known cryptocurrencies present out there. All you need to do is to register with a reliable exchange platform like Coinswitch Kuber, complete your KYC and you are all set to buy, sell and trade Dash crypto.

Fact 9: As of 2021, more than 10.18 million Dash coins remain in circulation, making it one among the most steadily growing crypto in 2021. Dash has seen a maximum supply of 18.9 million Dash coins. It is undeniably on the list of the top 10 cryptocurrencies that are giving stiff competition to Bitcoin.

Fact 10: Before you invest in Dash it’s important to know that it is an open-source platform, which means that anyone can see through its code.

Dash can also be bought directly from P2P trade (peer-to-peer trade), also through a decentralized exchange (DEX), or even directly for a person who holds this digital currency. If you are a novice in crypto trading, we recommend that you use standard exchange platforms because it’s a simplified and trustworthy route.