Dash is a popular digital coin that was originally conceived as an alternative payment system that could replace Bitcoin. In this article, we’ll look at the technical capabilities and features of the Dash cryptocurrency. We’ll also consider dash casino, its advantages, and disadvantages compared to Bitcoin.
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History of Dash cryptocurrency
The Dash story begins in 2014. During this period, the Bitcoin system began to malfunction, and the main weaknesses of this currency became clear.
Evan Duffield tried to neutralize the shortcomings of bitcoin in his currency. He and his team developed and launched the anonymous digital coin “Xcoin” (January 18, 2014). Later, Xcoin was modernized and received a new name – “Darkcoin” (February 28, 2014). On March 25, 2015, “Darkcoin” was renamed to “Dash”.
The project was being finalized and stabilized only by 2015. At that moment, the rate was fixed at $ 560 and by May 2017 it gradually decreased to $ 73. This decline is due to the temporary drop of the entire cryptocurrency market and a number of systemic flaws that made Dash inconvenient to use.
In 2017, new technical specifications came into force that increased the block size to 2 MB and prepared the Dash crypto for future scalability. The market reacted to this innovation and in November 2017, the value of the coin increased to $ 700. In January 2018, the price of the coin broke through the thousandth level and reached 1256 dollars for one Dash coin. But obviously that the price was overestimated and after a couple of months, it dropped back to $ 75.
The Dash cryptocurrency has served as an excellent example for all investors. In 2018, when large investors are investing in Dash and leading international organizations (Apple and others), this doesn’t prevent the price from falling in 2019. Most people think that if some star or VIP person bought something, the price of this something will grow anyway – but in fact, it doesn’t work this way.
Despite the instability and sharp collapses, the Dash coin is still believed and the price is growing slightly. Today Dash coin costs more than $ 200. This price is most likely underestimated for this currency plus it is very highly volatile, which means it is worth taking a closer look at.
Benefits and features of gambling with dash coin
Many crypto market experts admit that bitcoin is losing ground today: it is unable to cope with the queuing issues of a large number of cryptocurrency users. Yes, the price of bitcoin is high, but how long will it stay that way? Owners of BTC can either abandon the use of digital money in favor of traditional fiat currencies or switch to promising and rapidly developing alternative cryptocurrencies. Dash and Etherium are one of the first on this list. The reason for this is a number of advantages of this currency.
Dash’s value lies in the unique consumer qualities that make it attractive to an increasing number of users and casino players. Let’s take a closer look at each of them.
Decentralized Blockchain-Based Management (DGBB)
To make any decision regarding network changes, Dash has created a mechanism for decentralized management and self-financing. And this means that all users have the same control over the network, the system doesn’t allow itself to be deceived by creating an additional “fake” node. Thus, funds for the development of the network are distributed in a decentralized manner and solely on the basis of the consent of all participants in the network. Each of them has exactly as much power as other users can have, and all are equally involved in the development of the system. So, thanks to decentralized management, the most important decisions about changes in the system are made very quickly. For example, the decision to increase the block size from 1 MB to 2 MB was made literally in a day, and the involvement of network participants was 99%. Do you know another anonymous system capable for this?
Own two-rank network architecture – PrivateSend
Masternodes are special “nodes” that provide the operation of the “PrivateSend” transaction mixing mechanism. They are run by volunteers, with no centralized authority. The user specifies the number of shuffle rounds and randomly selected Masternodes to shuffle the coins. Thus, a combination of several (on average from 2 to 8) random Masternodes provides the user with exceptional anonymity and privacy of transactions. And to discourage attackers from disclosing anonymous transactions, uncompromising collateral was introduced – 1000 Dash for each Masternode. So, the key advantages of this system are:
- Maximum anonymization of transactions;
- Instant confirmation of all monetary transactions;
- Assistance in reaching an agreement of all members of the Dash network;
- Plans for the further development of the system;
- The chosen course;
- Management structure.
It should also be noted that volunteers are well motivated: they receive a reward for managing Masternodes (as a rule, this is 50% of the miner’s fee for a new block). We believe these advantages (of a two-rank network) are very important for playing at Dash casino, and any gambler will appreciate them.
InstantSend – service for instant transactions
Dash generates blocks 4 times faster than Bitcoin: 2.5 and 10 minutes, respectively. This means that despite the increase in the size of one block to 2 MB, the Dash network is capable of processing 8 times more transactions than Bitcoin.
Hash Algorithm X11
The X11 Algorithm is a Proof of Work hash function. It is uniquely designed by Dash creator Evan Duffield. The main goal of the X11 algorithm is ASIC stability. Why did Evan want to get rid of ASICs? ASIC miners are always viewed as a threat to the crypto mining ecosystem. They are the main reason for the centralization of the network.
ASIC (Application Specific Integrated Circuit) is a special device designed to perform cryptographic calculations related to the mining of digital currencies using one or more encryption algorithms.
After the invasions of ASICs into the SHA-256 algorithm and the Scrypt algorithm, become an idea to create and provide a more sustainable mining ecosystem. Since X11 uses 11 different hash functions, it is considered one of the most secure and advanced hashing algorithms in the cryptocurrency space.
Disadvantages of the Dash payment system
Dash is the case when, against the background of numerous objective advantages, minor flaws in the system are almost invisible. However, they are still there and are mostly related to the unpopularity of the coin:
- High volatility is perhaps the main drawback of this currency and the reason why Dash gambling is much less popular than Dogecoin casino or Ethereum blackjack. Unfortunately, confidence in the currency is still low and decentralized management has a lot to think about.
- Due to the small number of currency holders, fees are quite high. So, transactions won’t be cheap and this is important when you want to make a withdrawal or a deposit at Dash video casino.
- The Dash payment system doesn’t have its own exchanger that allows users to withdraw money directly – to a card or account.
All these shortcomings of the system are associated with the fact that the dash is still in an active stage of development. Only after complete revision of the system, the developers will able to work with the image of the coin, and this could bring popularity will come and neutralize all these disadvantages.
To summarize, let’s consider once again the pros and cons in the compressed version, as well as analyze frequently asked questions about Dash casino.
Dash casino, pros and cons in short
- DGBB – Decentralized Blockchain-Based Management
- PrivateSend – own two-rank network architecture
- InstantSend – service for instant transactions
- X11 – the most anonymous hash algorithm
- High volatility
- High fee (compare with other currencies)
- No own exchange service
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Frequently Asked Questions about Dash casino
- Log in to the online casino site.
- Go to the account cashier and select account replenishment.
- Indicate the payment operator, amount.
- Copy the code that appears on the screen.
- Go to the wallet, enter characters and confirm the operation.
The crypto will be converted into the user’s account currency. The commission is different and specified by each gambling site. Usually, the transaction is completed in 10 seconds.