Dash Is Now Accepted As a Currency in More than 13,000 Stores and Partnerships Across Brazil

Dash, the digital currency earlier known as the Darkcoin is the brainchild of Evan Duffield. The coin has been making waves in the world of cryptocurrency in recent times. The big news is that Dash has joined hands with a Brazilian company called CoinBR to make the coin a tradable currency in over 13,000 stores in Brazil.

A Brief History

Dash which was launched in early 2014 was not a major hit among the community of cryptocurrency users initially as its concept of privacy did not resonate much within the community. However, its database is same as that of Bitcoin which makes Dash compatible with nearly all merchants, exchanges and wallet software systems which were designed for Bitcoin. This major advantage that Dash enjoys over other cryptocurrencies puts it in pole position for use as an alternative currency for regular use.

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Dash is also best-equipped to be used as a normal currency as it has implemented a feature called InstantSend. This enables Dash to confirm transactions within an average of 1.3 seconds to users. Over the past few months, the Dash network has witnessed spectacular growth and its price has also reached a record high. From $300 in November, the price of Dash has climbed to more than double in less than two months. It is now trading at an impressive $763.

On the expansion front, the developers of Dash have announced that 2 MB blocks have been activated on the network now. This will help improve transaction efficiency. The next step is to increase to 5MB which will make the Dash network even more efficient. Merchants have recognized the immense potential of Dash and are aware that high volume transactions can be handled by Dash faster and with a significantly less waiting period.

The block time of Dash network is 2.5 minutes. The developers make use of a unique Dark Gravity Wave algorithm to adjust the mining difficulty of every single block. The Dash mining algorithm is known as X11 and has a rough hash rate of 500 giga hashes per second. The ASIC-driven hash rate of Dash is approximately 500 giga-hashes per second. Miners can expect a block reward of 3.88 coins with the value decreasing by roughly 7 per cent every year. This helps in providing Dash a curve of emissions that stable and consistent. The curve will near zero when there are 22 million coins of Dash in existence.

The Popularity Scales Higher Levels

The raging popularity of Dash can also be attributed to the coin’s infrastructure robustness. It is higher than other deserving competitors and even better than Bitcoin and Ethereum. The block reward of the Dash network is given out to three groups in various allocations. Miners get 45 percent for security while the same percentage is given to MasterNodes for functions such as InstantSend and Private Send. The balance 10 percent which equals one million USD worth of Dash roughly is reserved for the developers, auditors, marketers and others who are involved with the project.

MasterNodes reflect a holding of 1,000 Dash as collateral. It gives them the incentives needed for providing proper governance. Their independent votes will help decide factors like allocation of funding from the treasury and which direction should the future development of the coin choose.

Ease of Use – A Big Advantage

Dash is on a roll right now and experts are of the opinion that the future of the coin can be quite bright with a few important developments in the pipeline. One big development that’s already taking shape is called the ‘Evolution’. It is designed to make most of the features associated with Dash automatic. It will also ensure that key features are not easily visible to the user. Evolution will simplify the use of Dash and will make it easy for use as a conventional currency.

The total number of Dash coins when the whole mining process is complete will be 18 million. This target will be reached in the year 2300. The circulating supply at present is 7.4 million. The price of one coin of Dash based on the current market rate is $204 which makes Dash a dream coin that every cryptocurrency fan would love to get their hands on. Based on market cap, Dash ranks very high at six in the cryptocurrency market.

By collaborating with CoinBR, Dash has become part of a massive cryptocurrency platform paving the way for its ready acceptance in more than 13,000 stores across Brazil. In coming months and years, the popular digital coin is expected to give more established cryptocoins a run for their money. Dash is continuously evolving and finding a larger space for itself in the digital currency niche. We can expect more exciting developments to happen in this network.