DASH to USD Converter

The DASH cryptocurrency first emerged in 2014 and is the brainchild of Evan Duffield. Initially, it was known as xCoin, before being renamed Darkcoin. In 2015, the coin’s name changed to Dash and has remained so since then. The coin’s primary focus is to streamline the transactional space. For this reason, the Dash coin is usable as a payment method for merchants.

DASH utilizes Proof-of-Work as its primary consensus mechanism. As such, cryptocurrency enthusiasts can mine it. Likewise, the cryptocurrency can be purchased on major exchanges such as Rubix. In addition, Dash is among the few crypto coins that have successfully adopted self-funding and self-governance.

Typically, Dash receives its development funds from proceeds generated by the blockchain. Moreover, the coin’s governance is managed by the owners of the master nodes. As a result, Dash is a pioneer decentralized autonomous organization (DAO).

Dash is similar to Bitcoin since it is completely decentralized. No single authority controls transactions and other activities on the blockchain. Instead, everything is recorded on the network’s distributed ledger, and all value transfers are transparent.

The DASH network comprises master nodes. These are servers whose resources get allocated to managing and verifying all transactions on the Dash network. This is done in return for a reward of Dash coins and fees. Although the use of master nodes does not seem so vital, the system gives the Dash network considerable processing power. It also allows for the inclusion of two unique Dash features: PrivateSend and InstantSend.

The PrivateSend feature, in particular, keeps all transactions on the ledger transparent but private. No one can dissect the transactions and pinpoint the source of coins or how much crypto cash is in various accounts. The Dash network was created with scalability in mind. It can accommodate more transactions per block than other cryptocurrencies, including Bitcoin.

When it comes to market capitalization, the DASH coin currently ranks 15th in early 2022 with a market cap at over $700 million. The coin’s trading volume is interestingly higher than that of better-known cryptocurrencies. This attests to its popularity and high adoption rate. You can buy and sell the Dash coin on dozens of exchanges, including Rubix.

The US Dollar is the most popular and widely traded currency globally. It is also the most dominant reserve currency in circulation. Although it is primarily used in the US, several other countries have adopted USD as their official or alternative currency. In addition, some central banks “peg” their currencies against the USD. In this case, the currencies are fixed to a specific rate against the Dollar.

Hong Kong, for instance, has its currency pegged at roughly HKD7.8. Therefore, you get 7.8 Hong Kong dollars for every US dollar. Whenever the risk aversion runs high, most traders prefer buying US Treasuries, which in turn increases the demand for US Dollars.

The Dollar was created by the Coinage Act of 1792. It specified that a dollar of currency would equate to between 317 and 416 grains of silver, whereas an “eagle” ($10) would be equal to between 247 and 270 gold grains. Initially, gold coins with equal weights were used. As such, the dollar value was identical to the weight of silver or gold on which it was based.

The US Dollar is regulated by the Federal Reserve System, which also serves as the central bank. The USD can be exchanged for cryptocurrencies and altcoins, such as the DASH.