Dash is a new breed of cryptocurrency, which is a promising alternative coin (also called altcoin) to Bitcoin. In this article, we’ll deal with a brief definition of Dash, how it was originally built, how Dash mining is done, what is the supply level of Dash coins, and many more.
Let’s start the guide on Dash crypto and its mining –
What is Dash Altcoin?
Dash is one of the leading most cryptocurrencies in the top 20 altcoins in the ALT100 index. In terms of market capitalization, its position is 11th, located just behind TRON (TRX).
Dash (DASH) is a peer-to-peer decentralized cryptocurrency, which is distinctively different from other leading crypto projects such as Ethereum (ETH) and Stratis (STRAT). While ETH and STRAT are basically development platforms, DASH is digital cash that wants to remain just as liquid as real cash (like any other fiat currency including US Dollar, British Pound, Indian Rupee, Euro, or Chinese Yuan.
Dash cryptocurrency is built upon the core code of Bitcoin. However, it comes with additional new features such as quick transaction as well as privacy. This altcoin is basically open source in nature. Just like any other cryptocoin, it also comes with its own blockchain, wallet infrastructure, and essentially a community. Most of its basic features are same as Bitcoin but the transaction fee associated with it is negligible.
One of the main aspects of Dash community is that they don’t want many things out of it. Therefore, it seems, this altcoin will basically remain as an internet based digital money. This focus is a laudable aspect of Dash.
Dash Coin Supply – How much is Available in the Altcoin Market?
This cryptocurrency has been designed in such a manner that the total supply of coins reaches 18 million by the year 2300. At press time, the coin supply is 8,467,614 and the maximum coins that was ever available in the circulation was 18,900,000 DASH.
There is a variable block reward associated with this altcoin. However, every year it decreases by 7.1% per annum. On the Dash blockchain, 2.5 minutes is the average block mining time. Therefore, Dash mining is approximately 4 times faster than that of Bitcoin.
What is the Market Capitalization of Dash Cryptocurrency?
Currently, the total supply of DASH coins in circulation is around 8,467,614. The price of each DASH coin against US Dollar is US$86.35. Therefore, the market capitalization of Dash is US$731,186,687. In terms of market cap, it is the 11th largest cryptocurrency in the top-100 altcoin list (ALT100 index).
How can you buy this Cryptocurrency?
You can get hold of your DASH coin by getting it exchanged from Changelly. To get hold of this cryptocurrency, a person should have the following things –
The person must have a Dash address for receiving the concerned altcoin.
The person must also have a supported cryptocurrency such as BTC, LTC, or others, which he/she can exchange for DASH.
Changelly is not the only crypto exchange from where you can get this crypto. There are many exchanges from where you can buy your first DASH and they are Binance, Bitfinex, Bitrex, KuCoin, and Gate.io.
2 supported pairs are available at Binance –
2 supported pairs are available at Bitfinex –
2 supported pairs are available at Bittrex –
2 supported pairs are available at Gate.io –
3 supported pairs are available at KuCoin –
When you buy a crypto coin, it’s generally not a good practice to keep coins on exchanges for long period of time. You can definitely keep the coin at exchange for a couple of days but keeping it for many days is not only a bad practice but also a risky one. Once you buy a cryptocurrency, always transfer it to a secured wallet.
To store your DASH cryptocurrency, you have multiple options at both Android and iOS phones.
The Android based wallets that you can use for storing DASH are Dash Wallet, Jaxx, and Coinome. You can get these wallets by downloading it from Google Play.
The only iOS wallet available for use is Jaxx. You can download it from iTunes.
3 types of Dash desktop wallets are also available –
Dash Core Win/Linux 32/64 –
It comes with full features including wallet and P2P Client, which includes PrivateSend, InstantSend, Masternode management, and Governance.
Jaxx Win/Linux –
This is one of the most popular wallets that helps you to keep multiple cryptocurrencies. This is a HD Wallet that features recovery seed.
Exodus Win 64 /Linux/Mac –
It’s the first of its kind multi-asset desktop wallet. The most important built-in feature it has is Shapeshift.
There are three recommended Dash Hardware Wallets and they are KeepKey, Trezor, and Ledger Nano S.