DASH and Bitcoin have a lot in common. Even such aspect as consensus mechanism is similar – both use PoW (Proof of Work). This means that DASH can be obtained by regular mining with ASIC or graphics cards. The use of the X11 consensus algorithm should slightly reduce the hardware load.
Mining itself is a complex task which results in finding a block and attaching it to the blockchain. The miner who finds the block receives a reward. For miners, the mean time for getting a block is 2.62 minutes.
The two-level structure implies the distribution of the block reward as following:
As for the equipment, taking into account the present complexity of the mining process, it makes sense to “dig” either with ASIC devices, or with graphics cards. ASICs are preferable because they are specifically designed for crypto mining and have high power with minimal power consumption.
You are unable to mine much with just one graphics card. Therefore, miners build farms of multiple devices and join together in “mining pools” to increase the chances of rewards.
Below, we briefly describe the popular web wallets, wallets for PCs and phones and hardware wa. Each has its own advantages and disadvantages.
Web wallets are very popular among users due to their simplicity of use. Below you will find popular wallets of this type:
In this group of wallets, we will distinguish:
Other good solutions we can advise include Coinomi, Electrum.
Always close at hand, but still as functional as their desktop analogues:
Other mobile wallets are Jaxx, Electrum, Evercoin, Ethos, Trust, Bitnovo.
They differ from the above in the way they are available as separate devices. Work with DASH provide such manufacturers as:
Hardware wallets are distinguished from usual web, desktop and mobile wallets by their maximum reliability. They are analogous to safes, in which large amounts of fiat money are stored.
Most of the work is already done, the developers are planning the following events within the year:
– I quarter 2022 – release of Dash Platform version 0.22, version 0.23;
– I quarter of 2022 – release of Dash Core version 0.18, version 0.19;
– II quarter of 2022 – release of Dash Platform version 1.0
DASH cryptocurrency differs significantly from Bitcoin in terms of payment anonymity and transaction confirmation time. Although 100% anonymity could not be achieved, it is harder to trace the owner of these funds than in most other cryptocurrencies.
Relating to transaction confirmation time, the crypto could compete with VISA and MasterCard. In the future, DASH has the prospect of becoming one of the traditional payment systems.
At its current stage of development, crypto can be used as a regular means of payment or for investment.
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