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DashCoin (DSH) is a digital currency that was created as a mirror image of Bytecoin. Do not confuse with DASH, which means DigitalCash. Besides the similar sounding name, these coins have nothing in common. Bitfinex and others exchanges list DASH as DSH for an unknown reason. DSH was launched on the 5th of July, 2014. The main features of this currency is that it provides users with a very high level of anonymity and mutates in an automatic way. Users’ data is protected by the most advanced technology known as a ring signature system. At the same time, this currency is independent from any human intervention and doesn’t rely too much on the developers. It has an automated source code and evolves naturally. Due to the fact that current market lacks reliable anonymous coins, DashCoin has gained interest from the community.
DashCoin is based on CryptoNote, a cryptographic technology that ensures intractability of users’ operations and identities. This technology uses so-called ring-signatures and personal addresses created for every single transaction. After the transaction is made, the address is deleted. Such one-time addresses hide both senders and recipients and ensure their 100% safety and anonymity. DashCoin is easy to mine. To start the mining process, one should have a home computer with medium-level hardware.
DashCoin and Bytecoin are not the only currencies that use CryptoNote. In fact, there is an entire family of currencies that are based on this algorithm. This technology uses proof-of-work mining and has a special function CryptoNight, which is responsible for regulating the power of all devices that take part in the mining process. For example, it ensures that the network members do not boost their powers with the help of ASICs and other similar technologies. It is necessary to let the mining process stay as distributed as possible and therefore avoid any forms centralization.
The main features of DSH are connected with anonymity. They are as follows:
It is impossible for the interpleaders to find out any information about the transactions and users that make them.
The transaction ladder used within DashCoin’s network prevents coins from being stolen or spent more than once.
All operations in the network are regulated automatically and therefore users don’t rely on any developers or company-owners. DashCoin is independent from any manual regulations.
Network members’ income is equal to the amount of work they have done.
Currently, DashCoin is still a developing currency and doesn’t have a wide audience. At the same time, anonymous cryptos and open-sources technologies attract more and more users of today’s market. Chances are that DashCoin will declare itself so far.