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¿What is Dash and how does it work?

Dash is a cryptocurrency based on the Blockchain protocol. It is the first decentralized autonomous organization and all its changes are decided by the community.

It was launched at the beginning of 2014 and to date it has changed its name up to three times: starting with XCoin, then it was renamed by Darkcoin and until the date called DASH (Digital Cash).

The network of Dash is multilevel - the work is divided into several levels. In this case the first level are the "Miners" responsible for the creation of new blocks and the second level are the "Masternodes" responsible for the operation of some features of the network as: PrivateSend and InstantSend.

PrivateSend is a service that includes Dash providing that the transactions can not be traced easily. We can colloquially say that PrivateSend mixes currencies between users. This is an option that you must select when making a transaction in your Wallet since it has a extra cost of the fee for the work of the Masternodes.

InstantSend is another Dash service. Normally the transactions of this cryptocurrency are characterized by having a very low fee and confirming the transaction in really short periods of time. But imagine a supposed case that we are going to pay something in a trade and we need it to be instantaneous. In that case, thanks to InstantSend we can make the transaction and confirm it in less than 1 second, logically it has a slightly higher fee since the Masternodes come into play.

If you want to know in which Wallet to store your Dash we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.

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