Dash, (DASH) a cryptocurrency that’s known for its criminal reputation has come a long way in recent years. Much like Monero, this privacy-focused cryptocurrency has drawn a lot of criticism for being a convenient tool for cybercriminals looking to stay anonymous. However, there are a wide variety of benefits to Dash as well like fast transaction times, top-level security, and privacy.
Dash is a cryptocurrency designed for sending and receiving payments. It often draws comparisons to that of Bitcoin (BTC) and that’s because it’s built on top of the same blockchain technology that Bitcoin uses. That being said, many DASH investors say Dash is better than Bitcoin due to its increased speed and privacy. The “secret sauce” behind these features is an innovative model using “Masternodes.”
Unlike the Bitcoin blockchain that uses miners to verify all transactions on the blockchain, Dash users miners and also a second part -- Masternodes. Masternodes are advanced servers that maintain the primary functions on the Dash network. Masternodes take care of instant transactions, private transactions, and the governance/treasury system on the network. To become a Masternode, then a user must first deposit 1000 DASH.
Masternodes get 45% of the total reward from mining DASH coin, with another 45% going to miners and then 10% going back to the DASH network as sort of a maintenance tax. These “taxes” operating on a self-governing model. Unlike Bitcoin, Dash funds itself with this money and makes additional improvements on DASH tech.
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