How Dash Works
Peer-to-peer digital currency differs from traditional money in that there is no central authority responsible for monitoring supply and authenticity. Instead, the hard laws of mathematics govern supply and ensure that only legitimate owners can spend their balances. Assuming users follow recommended security practices, this makes fraudulent spending and theft almost impossible. In the absence of a central authority, each node on the network itself must come to an agreement (or consensus) on the balances of each account (or address) every few minutes. This information is then stored in a block, and irreversibly written and linked to the previous block to form a chain. This constantly updated ledger is accessible by any user of the network and is called the blockchain.
Dash builds on this simple (although somewhat unfamiliar) concept by offering users instant, private and secure transactions that are so simple, you won’t even know you are transacting on a blockchain. Anyone can participate in the network, and Dash is widely available for purchase around the world. The ingenious masternode network means sending any sum of money around the world is as simple as tapping your phone at your local store to buy groceries. Say goodbye to slow transactions, complex international account numbers and high transaction fees – Dash is digital cash!
Digital is the Cash
The book “Digital is the Cash” by Nathaniel Luz describes the evolution of money and where Dash stands in the new world of digital currencies.