Dash (DASH) is a digital currency that supports instant transactions and aims to protect user privacy.
Bitcoin is creative, but with its widespread use and development, some flaws are gradually exposed:
Long confirmation time: Bitcoin generates a block every 10 minutes, and it takes 6 blocks to confirm the transaction to complete, that is, it takes 1 hour to confirm a transaction;
“Pseudo-named” transactions can only provide low-level privacy protection: the address of the initiator of the transaction can be queried through block information, and the bitcoin address can be associated with real individuals through other means;
Centralization problems caused by ASIC mining machines: The emergence of ASIC mining machines corresponding to the SHA256 algorithm broke the idea of ”one CPU one vote” originally designed by Satoshi Nakamoto, and eliminated ordinary CPU/GPU mining (because no blocks could be mined). No incentives), which gradually reduces the number of full nodes in the entire network;
The emergence of mining pools has led to further concentration of computing power, which is contrary to the original intention of “decentralization”, and greatly threatens the security of the Bitcoin network (51% computing power attack).
Dash improves upon Bitcoin and makes some “innovations”:
Implement InstantX: make transactions confirmed in seconds;
Realize DarkSend: On the basis of CoinJoin (software that provides anonymous technology), a series of improvements are made, such as decentralization, strong anonymity using links, the same face value and passive advanced currency mixing technology, which greatly improves the anonymity of transactions sex;
Use a new PoW hash algorithm: X11 algorithm to fight against Bitcoin’s ASIC miners;
The introduction of a secondary network, namely the master node network/Masternode: with high availability, it enables clients to synchronize and quickly broadcast information through the entire network, which is very important to the health of the network.