{"id":13624,"date":"2018-07-24T00:00:00","date_gmt":"2018-07-23T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2018\/07\/24\/dash-the-friendly-cryptocurrency\/"},"modified":"2021-09-18T11:36:54","modified_gmt":"2021-09-18T11:36:54","slug":"friendly","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/friendly\/","title":{"rendered":"Dash, the friendly cryptocurrency"},"content":{"rendered":"

Welcome to week 17 of my adventures in cryptocurrency.<\/a><\/p>\n

This week I splashed out on a Dash stash, and went outside.<\/p>\n

\n

But first, are y\u2019all ready for this?<\/p>\n

The profit check-in<\/h4>\n

\"\"<\/p>\n

So much fun for only $6!<\/p>\n

\n

I listened to a Q&A this week with Andreas Antonopoulos (a super star). In this Q&A, he suggested (to my surprise) that a software wallet on a phone was more secure than a software wallet on a Windows\/macOS machine. Simply because on desktop operating systems, malware has much more reach than it does on a phone.<\/p>\n

It\u2019s an interesting security concept: your phone\u2019s only vulnerable to the few dozen people you are near each day, but your big old Windows machine is laying on its back with its feet in the air to millions of potential hackers all around the world. Yet it somehow seems more secure.<\/p>\n

(I have taken extra security measures with my phone, such as not going within hearing distance of strangers, and instead of using a fingerprint to unlock the phone, I use my big toe.)<\/p>\n

\n

On to the main event, which is \u2026<\/p>\n

\"\"<\/p>\n

Dash<\/h3>\n

Dash (AKA Amanda B Johnson coin) is a strong contender for my favourite cryptocurrency.<\/p>\n

It\u2019s been around since way back in 2014 and is, dare I say, a little bit boring. It has none of the the flash and fancy of Tron or NEO or EOS. It\u2019s not a different beast altogether like IOTA or Stellar or Ripple, and it doesn\u2019t have the pipe and tweed jackets of Cardano.<\/p>\n

It\u2019s just a cryptocurrency that wants to be very good at being a cryptocurrency. And in this guy\u2019s opinion (my thumbs are pointed at my face), they\u2019re doing a pretty good job.<\/p>\n

Also, they win points for having their whitepaper as a GitHub Wiki (as well as the PDF). They obviously listened to my advice a few weeks ago, then travelled back in time to April 2015 to make the necessary adjustments.<\/p>\n

\n

Some highlights: they use proof-of-work for the consensus mechanism, get 50ish transactions per second, and the median transaction price is waaaay under a cent<\/a>.<\/p>\n

Private and fast, at a price<\/h4>\n

At the lowest level, Dash is just like Bitcoin. A good old fashioned PoW blockchain. But there is a level above this, made up of things called masternodes, which have some special duties\u200a\u2014\u200asuch as voting, and facilitating \u2018private\u2019 and \u2018instant\u2019 transactions.<\/p>\n

I think of the masternode layer as kinda like the Lighting Network. This is probably wrong, but I\u2019m okay with that.<\/p>\n

There are about 4,500 of these masternodes, and if *you *want to be a masternode, the entry fee is 1,000 Dash\u200a\u2014\u200awhich right now is about a quarter of a million dollars.<\/p>\n

\n

If you, the cryptocurrency user, want a normal transaction, you\u2019ll be waiting for a few minutes while the blockchain does it\u2019s thing and you count out a sensible number of confirmations. But if you\u2019re flush and in a rush, you can pay about 2c for an InstantSend transaction which the masternodes will look after for you.<\/p>\n

Unfortunately this means that the small transactions, like coffee, that you want to be fast, will be the ones where you have to pay a few cents, which means the fee might actually be a whole percent, e.g. 2c on a $2 coffee. (The sum also works for things that are $2 but are not<\/em> coffee.)<\/p>\n

Now, if you\u2019ve got a big shipment of meth coming in and want to remain anonymous, then you can fork over something like 25c for a PrivateSend transaction which has a design based on the Wikipedia page for \u2018Money Laundering\u2019.<\/p>\n

Ryan Taylor, CEO of Dash Core Group (and one of the most cuddly looking CEOs out there right now) says that about 1% of transactions<\/a> opt in to using PrivateSend, and that it\u2019s a great feature for businesses who want to do transactions but not have their competitors see where the money flows.<\/p>\n

And also it\u2019s great for buying and selling meth.<\/p>\n

\n

A week really isn\u2019t long enough to get to know a coin, but in everything I\u2019ve seen about Dash they\u2019ve had a simple, consistent message and drive\u200a\u2014\u200ato be a user friendly cryptocurrency.<\/p>\n

This plays out in their site and docs and the slick \u201cCopay\u201d app. Copay is like a wallet, but you can actually have \u2018contacts\u2019 that you can tap and send money to. It\u2019s all very pretty and nice\u2026\u2026\u2026\u2026\u2026..<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to week 17 of my adventures in cryptocurrency.<\/a><\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nDash, the friendly cryptocurrency - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/friendly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dash, the friendly cryptocurrency - Dash\" \/>\n<meta property=\"og:description\" content=\"Welcome to week 17 of my adventures in cryptocurrency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dash.org\/news\/friendly\/\" \/>\n<meta property=\"og:site_name\" content=\"Dash\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DashPay\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-23T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-18T11:36:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn-images-1.medium.com\/max\/2000\/1*Z_Ai2usdeM19uJ97tfdlhA.png\" \/>\n<meta name=\"author\" content=\"dash\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dashpay\" \/>\n<meta name=\"twitter:site\" content=\"@dashpay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dash\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dash.org\/news\/friendly\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.dash.org\/news\/friendly\/\"},\"author\":{\"name\":\"dash\",\"@id\":\"https:\/\/www.dash.org\/#\/schema\/person\/49e370ea57b37d1186318dab9e4e6513\"},\"headline\":\"Dash, the friendly cryptocurrency\",\"datePublished\":\"2018-07-23T16:00:00+00:00\",\"dateModified\":\"2021-09-18T11:36:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.dash.org\/news\/friendly\/\"},\"wordCount\":757,\"publisher\":{\"@id\":\"https:\/\/www.dash.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.dash.org\/news\/friendly\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn-images-1.medium.com\/max\/2000\/1*Z_Ai2usdeM19uJ97tfdlhA.png\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.dash.org\/news\/friendly\/\",\"url\":\"https:\/\/www.dash.org\/news\/friendly\/\",\"name\":\"Dash, the friendly cryptocurrency - 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