When it comes to cryptocurrencies, privacy coins are one of the many categories of cryptocurrencies at the moment. Anyone who has been in the crypto space must have come across privacy coins. Like the name, Privacy coins are basically cryptocurrencies that operates anonymously on anonymous blockchains that give users more privacy by hiding information about transactions.
A lot of privacy coins utilize some strategies to preserve anonymity and untraceability of transactions such as; Stealth addresses, CoinJoin and Zk-SNARKs. One of the main benefits of privacy coins is that any amount can be owned by anyone and sent to or received from any addresses completely anonymously and privately.
What is Dash?
Dash is one of the blockchain and cryptocurrency projects that has been around for a long time now. It is one of the oldest blockchain and cryptocurrency projects that was created to provide better solution to the current conventional financial system, most especially the fiat currency.
Dash is already popular in the cryptocurrency space as it was created in 2014, it was forked from bitcoin, and was created to be an anonymous cryptocurrency. It was founded by Evan Duffield and Kyle Hagan. Dash was formerly known as Xcoin and Darkcoin, but the name was later changed to Dash. Dash coin or DASH is the cryptocurrency of Dash.
The name Dash is was coined from two words digital and cash. The main idea behind the creation of Dash was to become a digital currency and an alternative to the fiat money. Dash allows anyone to send money to anywhere, anytime as a digital currency via the Dash blockchain network.
The transactions on dash are peer-to-peer through an open-source network which makes it decentralized. Dash is a privacy coin which means that it aims to take a lot of similarities from the physical fiat currency. We all know that transactions made with the physical fiat currency is private and is only known to the sender and the receiver of the fiat currency. Same with Dash. As a privacy coin, dash transactions is private and anonymous. Meaning that no one can have access to the transaction details and the transactions cannot be tracked.
Dash coin is one of the fastest cryptocurrencies when it comes to transaction speed. The instantsend on the dash network makes it possible for anyone to send and receive dash almost instantly and the privatesend makes it possible to send private and anonymous transactions. This makes dash a great digital currency solution for making payments, sending money to anywhere in the world fast, secure and privately.
While there are other solutions that makes it possible to send money to anywhere in the world in less time, those solutions have a lot of cons which makes it difficult for everyone to make use of it. With Dash, anyone can make use of it as a payment solution and also send and receive money anywhere in the world almost instantly. Dash is not only fast, secure and private, it also has very low fees, making it a very good fiat alternative and digital currency. When it comes to digital currency and payment solution, there are factors that must be in place and dash provides that.
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