The explosion of digital currencies has created a series of problems that not many in the cryptocurrency space saw coming. As a result of this, smaller digital currencies have sprung up over the course of the last few years to remedy the weaknesses of the Bitcoin network. The most popular of these is Litecoin but there is another fast growing digital currency that is committed to strengthen digital currencies.
That digital currency is Dash – trading symbol (DASH). Created with the expressed aim of strengthening the inherent weaknesses in Bitcoin, DASH came on the scene as an alternative to Litecoin and was initially launched as XCoin. The founders then changed the name to Darkcoin before eventually conflating the assets of the digital currency into what we call DASH today.
DASH simple name and premise translates into digital cash – arguably the clearest expression of what digital currency exponents are trying to create as they make the world a better, fairer place. DASH has created its infrastructure in a somewhat different way and this inherent difference is being said by developers to offer a stronger alternative to the regular cryptocurrencies.
Unlike most digital currencies DASH is built on a two-tier network system. This revolutionary structure achieves its aims by creating an incentive system where 10% of each block portion is allocated to developers. This keeps the system alive and dynamic by allowing developers to contribute with an incentive of ownership. It’s the ultimate form of digital reward, an incentive system that rewards the people that make the engines, the guts of the digital currency.
DASH has a series of handy features that set it apart from other digital currencies. One of these features is the ability to send digital currency in an instantaneous fashion. This InstaSend feature is a welcome alternative to the slow, cumbersome drone of most mainstream digital blockchain technologies. This emphasis on speed is something that the digital currency space badly needs and DASH has stepped up to the plate admirably, according to some of the early analysis of experts.
But it’s not just speed that DASH is looking to set the standard for. The digital currency developers have also spent a lot of time building high-level anonymity. Where InstaSend helps users achieve speed, PrivateSend helps with keeping the activities of users secret, something which is vital in today’s world.
So how has all this translated in trading for DASH? The digital currency is trading currently at around $584, down 5.18% at the close of trading Wednesday. The current market cap comes in at $4.622B, a very solid figure for a growing cryptocurrency.