Many forks of different coins have resulted in other coins that have gained huge respect in the market. Litecoin was a project which was called to be the lighter version of bitcoin. In January hard fork was implemented on Litecoin (LTC) that resulted in the creation of Dash. Dash stands for Digital cash and is an open source blockchain network that aims to provide faster and cheap global payment system. According to the whitepaper of Dash, the project is aims to improve on Bitcoin by providing more secure and faster transactions.
The project was originally called XCoin but was later rebranded as Darkcoin and then rebranded as Dash in 2015. Since going live Dash has targeted to be the most reliable cryptocurrency payment method which it tries to accomplish using masternodes backed by collateral on Dash that provides high level functions. Instantsend, privatesend and chainlocks are some notable features of Dash.
The Dash network is secured by their custom made Proof of Work (PoW) known as X11. According to the documentation this is one of the most reliable hash. The masternodes are operating with the Proof of Service consensus. Masternodes oversee the new blocks and reject them based on the working. Chainlink features are also operated by masternodes.
The Native Token Dash
The native token Dash at the time of writing is being traded at the price of $180.12. The price has dropped by almost 11.62% in the past 24 hours. The daily trading volume has increased by almost 37.29%. Dash had created its all time high around the price of $478 during the month of May 2021 before dropping down to a price of $101.7 next month before showing a reversal.
The maximum issuance of Dash is around 18M. Currently around 10M Dash is in circulation. Around 45% of newly minted Dash is allocated to miners, 45% to masternodes and the remaining 10% for future proposals. New tokens are mined through the proof of work method and the mining rate is decreased by almost one fourteenth after 210,240 blocks have been mined.
Long Term Investment
People are very optimistic about the performance of the Dash network and are hoping that it would be of huge success. According to the wallet investor, Dash is going to be around the price of $286.204 in the time span of one year and will be around the price of $611.384 for a five-year investment plan.