Like Bitcoin, Dash is a digital currency that can be used to send or receive payments. Dash was forked from the blockchain technology that Bitcoin uses, making several significant improvements along the way. Because it was designed to work differently than other cryptocurrencies like Bitcoin, it offers far more than an investment to buy & hold. Dash has gained popularity because it is solving two of Bitcoin’s major problems — lack of privacy and slow transaction speeds. But we’ll share six reasons why Dash is better than Bitcoin.
Dash Has Fast Payment Processing
Dash is more like cash than Bitcoin. Dash really works like traditional money – you can use it to pay at restaurants and brick & mortar businesses, or you can shop & pay online. Dash’s Instasend feature sends and confirms transactions in less than a second. In contrast, Bitcoin’s block propagation takes an average of 10 minutes. Bitcoin’s speed issue has raised many questions on the scalability and mass adoption of it for payments.
Dash Is Better for Merchants
If you’re a merchant, you’ll appreciate Dash’s fast transaction processing time. And Dash fees are much lower than Bitcoin. It’s simple to set up, secure, and has virtually unlimited capacity.
Dash Masternodes Create Network Efficiency
Dash introduced the concept of Masternodes, which incentivize users with payments to secure the network. While Bitcoin’s algorithm uses Proof of Work, Dash uses Proof of Stake — Masternode operators invest 1,000 Dash to host a Masternode. Masternode operators get a share of rewards each month.
Dash Protects Against Centralization
Dash’s decentralized system protects from a group of miners seizing network control. Masternode operators keep miners in check. That is, rogue miners cannot take over the network, even if they control over half the mining power. And if a masternode operator cheats the network, they can lose their stake, ensuring masternode operators play by the rules.
Dash Is Far More Energy Efficient
Dash is energy efficient. Unlike Proof of Work blockchains like Bitcoin or Ethereum, Dash’s Proof of Stake model requires significantly less energy and costs less to operate. The inclusion of masternodes in transaction processing significantly reduces the need for energy-draining computing power.
Dash Is a Self-Funded Blockchain
In Bitcoin, when a block gets mined, 100% of the reward goes to the miner(s). Dash’s self-funded blockchain provides money to spend on development and marketing. 45% of rewards goes to miners, 45% goes to Masternodes, and 10% funds network improvements. The result is that Dash funds its own growth and adoption.
Dash Provides More Privacy
One of the problems with Bitcoin is that it is completely public. While Bitcoin transactions are pseudonymous and can be traced to their users, Dash’s CoinJoin transactions allow Dash users to opt for privacy with individual transactions. As a result, Dash provides more privacy than Bitcoin. Dash coins are all equal and fungible.
Dash Is Better Than Bitcoin
Perhaps our viewpoint is biased, but we truly believe that a cryptocurrency needs to be useful and practical for transactions. As the 800 pound gorilla, Bitcoin should be good, but Dash serves better as a currency, and it offers more long-term opportunities as a self-funded blockchain solution. The market (and user base) can dictate where it goes. Time will tell, and hopefully both coins will find a place, but meanwhile, we choose Dash!