What is Dash?
- InstantSend: This allows for transactions to be confirmed in less than a second, making Dash suitable for point-of-sale situations.
- PrivateSend: This offers optional privacy for transactions by mixing coins with other users in a trustless manner.
- Masternodes: These are special nodes that provide services such as InstantSend and PrivateSend, and also participate in the governance and treasury system of Dash. Masternodes require 1000 DASH as collateral and earn a portion of the block rewards.
Dash was launched in 2014 as a fork of Litecoin, and was originally called XCoin, then Darkcoin, before rebranding to Dash in 2015. As of May 2021, Dash has a market capitalization of about $2.6 billion and a circulating supply of about 11.2 million DASH coins.
Dash – Real time price
How does Dash work?
Dash works by using a two-tier network that consists of miners and masternodes. Miners are responsible for creating new blocks and securing the network, while masternodes provide services such as InstantSend, PrivateSend and governance.
Dash uses a proof-of-work algorithm called X11, which requires sequential hashing of 11 different algorithms. This makes Dash more energy-efficient and ASIC-resistant than Bitcoin.
Dash also uses a technique called adaptive bitrate streaming, which allows the video quality to adjust dynamically based on the network conditions. This makes Dash suitable for streaming videos over the Internet.
Dash follows the MPEG-DASH standard, which is an open-source protocol for streaming videos over HTTP. This means that any origin server can serve Dash streams without requiring specialized software or ports.
Some of the advantages of Dash are:
- It offers fast and cheap transactions with InstantSend, which can be confirmed in less than a second.
- It provides optional privacy with PrivateSend, which mixes coins with other users to hide the origin and destination of funds.
- It has a decentralized governance system that allows masternodes to vote on proposals for improving the network and allocating funds.
- It is energy-efficient and ASIC-resistant with its X11 algorithm, which reduces power consumption and prevents mining centralization.
- It supports adaptive bitrate streaming, which improves the video quality and user experience over the Internet.
- It follows the MPEG-DASH standard, which is an open-source protocol that works with any origin server and HTTP port.
Some of the disadvantages of Dash are:
- It has limited support from some platforms and exchanges, which may affect its adoption and liquidity.
- It lacks clear standards for encoding, segmentation, DRM, and other aspects of streaming, which may lead to compatibility and quality issues.
- It has a fragmented ecosystem with different implementations and versions of Dash, which may cause confusion and inconsistency.
- It has security risks associated with its privacy features, such as the possibility of coin mixing being traced or compromised.
- It has first-mile delivery challenges, such as bandwidth limitations and latency issues at the origin server, which may affect the streaming performance.
This is how you buy Dash
There are different ways to buy Dash, depending on your preferences and location. Here are some common methods:
- You can buy Dash on a crypto exchange that supports Dash and your local currency. You can use a bank transfer, a debit card, or a credit card to fund your account and then place an order to buy Dash cryptocurrency at a fixed or market price.
- You can buy Dash from another individual who is willing to sell it to you. You can use a peer-to-peer platform, an online marketplace, or a personal contact to arrange the transaction. You will need to agree on the price, the payment method, and the delivery of Dash.
- You can buy Dash from a crypto ATM that supports Dash and your local currency. You can use cash or a debit card to deposit funds and then scan your wallet address to receive Dash. You will need to pay a transaction fee and follow the instructions on the machine.
Before you buy Dash, you will need a secure wallet to store your coins. You can use a hardware wallet, like Ledger, which provides the highest level of security and control over your funds. You can also use a software wallet, like Dash Core or Dash Electrum, which are free and easy to use but less secure than hardware wallets.
Watch Dash videos
Dash videos are videos that use the MPEG-DASH standard, which is an open-source protocol for streaming videos over HTTP. Dash videos can be watched on various devices and platforms that support the standard, such as web browsers, mobile apps, smart TVs, and media players.
To watch Dash videos, you will need a Dash player that can handle the adaptive bitrate streaming and the segmentation of the video files. Some examples of Dash players are:
- VLC media player: This is a free and open-source cross-platform multimedia player that can play almost any video format, including Dash.
- ExoPlayer: This is an Android library that provides an alternative to the built-in MediaPlayer API. It supports advanced features such as adaptive streaming, offline playback, and Dash.
To watch Dash videos, you will also need a Dash source that provides the video files and the manifest file. The manifest file is an XML document that describes the structure and properties of the video segments, such as the bitrate, resolution, duration, and URL. Some examples of Dash sources are:
- Bitmovin: This is a cloud-based video encoding and streaming service that supports MPEG-DASH and other formats. You can use Bitmovin to create and host your own Dash videos, or you can use their demo player to watch some sample Dash videos.
- DASH-IF: This is a consortium of industry partners that promotes and develops the MPEG-DASH standard. They provide a reference player and a test vector repository that contain various Dash videos for testing and evaluation purposes.
- YouTube: This is a popular online video-sharing platform that uses MPEG-DASH for some of its videos. You can watch YouTube videos in Dash format by using a browser extension such as YouTube Center or YouTube Plus .
You can use Dash for everyday purchases by using a mobile app called DashDirect, which allows you to instantly buy goods with Dash from over 155,000 brands in-store and online. You can also save up to 12% on your purchase (5% on average) by using DashDirect.
To use DashDirect, you will need to:
- Download the app from the Apple App Store or the Google Play Store and create an account.
- Load your Dash wallet by scanning a QR code or entering an address. You can buy Dash from a crypto exchange or a crypto ATM if you don’t have any.
- Choose a brand from the app’s retailer list and enter the amount you want to spend.
- Scan the barcode or enter the code at checkout to complete your purchase. You will see your savings instantly.
Some of the brands that accept DashDirect are:
- Old Navy
51% attacks and how to prevent them
A 51% attack on Dash is a scenario where a single miner or mining group gains more than half of the network hash power and tries to double-spend some of its coins or revert some of its transactions. This would undermine the security and trust of the network and cause damage to its users and reputation.
To prevent a 51% attack on Dash, the network uses a feature called ChainLocks, which leverages the masternode layer to lock in the first-seen valid block on the network. ChainLocks are enabled by Long-Living Masternode Quorums (LLMQs), which are groups of masternodes that are randomly selected and perform tasks such as signing messages or verifying transactions.
When a new block is mined, an LLMQ of 400 masternodes is formed to sign the block hash. If at least 60% of the LLMQ members agree on the same block hash, they create a ChainLock Signature (CLSig) and broadcast it to the network. The CLSig indicates that the block is final and cannot be replaced by another block, even if it has more proof-of-work. This way, ChainLocks prevent any reorganization of the blockchain beyond the locked block.
ChainLocks make Dash immune to 51% attacks, as no attacker can secretly mine a longer chain and publish it later, nor can they invalidate a transaction that has been confirmed by a CLSig. ChainLocks also enable InstantSend by default, which means that all transactions are instantly confirmed and secure as soon as they are included in a locked block.