CoinDesk • Mar 04, 22
Venezuela Pegs Minimum Wages to National Cryptocurrency: Report
The venezuelan national cryptocurrency is based on the DASH blockchain, and has many characteristics of a CBDC.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Dash has risen by 5.18% in the past 7 days. The price declined by 2.00% in the last 24 hours. In just the past hour, the price shrunk by 0.02%. The current price is $45.10 per DASH. Dash is 97.25% below the all time high of $1,642.22.
The current circulating supply is 11,039,171.934 DASH.
Dash is a cryptocurrency with optional speed and privacy features. Its unique network architecture consists of both regular miners and privileged machines called Masternodes.
is a payments-focused peer-to-peer . out of source code, Dash is an open-source platform that claims itself to be user-friendly, fast, and inexpensive. As per the , the Dash project is focused on making financial transactions through cryptocurrency instant and easy to use. Made from the abbreviation of “Digital Cash,” Dash aims to move payments anywhere to anyone for less than a cent.
Today, major problems in making cryptocurrency get to mainstream adoption are low transaction speeds and high fees. It can take almost 10 minutes for a transaction to be completed. Also, the fee of crypto transactions can sometimes cost more than the transaction itself. To solve these problems, Dash was built to provide users with instantly confirmed transactions for a minuscule fee.
Made on the vision to reach a broader market, Dash is one of the early projects to modify Bitcoin’s code to give it advantages and abilities to make it a preferred medium of exchange. Some of the advantages of Dash are:
Fast Speed: The transaction of Dash is confirmed within seconds, thereby taking very little time to validate a transaction. A full block is created in just two and a half minutes, whereas Bitcoin has a ten-minute block time.
Lower Fees: A Dash transaction costs as low as $0.01, making it an efficient medium of exchange.
Privacy: Dash autonomously secures the sender’s and receiver’s details. This can prevent them from being traced and identities not revealed.
Coming to the token, DASH is the native token of the platform. DASH is the token used for financial transactions on the platform. The token is easy to purchase and receive. DASH can be used to pay for coffee, purchase a plane ticket, pay phone bills, pay family and friends, and purchase groceries, electronics, and more. In simpler words, the token is intended to be used for daily transactions between peers. To make the token widely accessible, the platform has built its proprietary mobile wallet app to send and receive DASH tokens, which are available on the Google Play store and Apple’s App Store.
Further, the token has a limited supply and is in nature, i.e., the tokens are to an unrecoverable wallet and are put out of the total supply. This deflationary nature makes the DASH token increase in value over time. The DASH token also works as the platform’s cryptocurrency and is available on many exchanges like Coinbase.
As per the whitepaper, the network is run by Masternodes. Masternodes are the servers that execute transactions on the Dash network. These Masternodes are even responsible for Instantsend and Privatesend, which are essential services of the network.
Privatesend: This feature allows users to send transactions without being identified or traced.
Forked out of Bitcoin, the project was originally known as Darkcoin. Although having similarities with Bitcoin, the project made improvements in many areas to make it more apt as a medium of exchange. Later, the project was renamed Dash in March 2015.
During its initial days, the project faced a controversy where 1.9 million tokens were mined within the first two days of launch. Apparently, there was a bug that caused the problem. However, later the mined coins were then distributed through various exchange platforms.
As per the , the Dash blockchain is secured by the method known as . In this process, the powerful processors are used, and together they search for solutions to a mathematical problem defined by the X11 algorithm. X11 is the proprietary algorithm that is based on eleven cryptographic techniques and is specially designed to reduce power consumption.
After every successful transaction, a new Dash block is added to the blockchain. The miners are then rewarded for the work they put into validating transactions. These rewards are in the form of DASH tokens.
Dash has a maximum supply of 18,900,000 tokens to be mined by the year 2300. The whitepaper suggests that each year, the supply is to be decreased by 7%.
The DASH token is available on several centralized and decentralized exchanges like Coinbase. Coinbase is an easy-to-use and beginner-friendly platform for trading, storing, and converting DASH.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 Dash currently costs $45.10.
The current market cap of Dash is $497.37M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Dash is $1,642.22. This all-time high is highest price paid for Dash since it was launched.
Over the last 24 hours, the trading volume of Dash is $85.24M.
The current circulating supply of Dash is 11 million.
The median time that Coinbase customers hold Dash before selling it or sending it to another account or address is 25 days.
Dash ranks 77 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 90% of Coinbase users are buying Dash. In other words, 90% of Coinbase customers have increased their net position in Dash over the past 24 hours through trading.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.