Dash DASH Minning
Last updated June 27, 2017 One of Dash’s main claims to fame is the meteoric rise to $120+ USD prices. Now might be a good time to grab a piece of the pie. Gain high rewards in a network that has yet to be saturated to the point of the Bitcoin Blockchain. Best Dash Mining Hardware Dash indeed has ASICs that have been made for mining. These have been designed specifically to work most optimally for the X11 mining algorithm.
Here are some examples: The Antminer D3 is probably the best miner on the market right now: You can also find non-ASIC mining hardware with some of the highest hash rates for X11 mining below: • • • • Dash Mining Pools You’ll find that you can receive more consistent rewards by joining a Dash mining pool than by working on your own. The official website recommends the following pool mining providers (note that some of the links on that page are broken). We have selected some active pools for you here: It’s important to stay on top of mining pool updates if you decide to go down this route to ensure that you don’t get stuck with a pool that suddenly bumps up its fees. You also don’t want to be mining for a pool that’s no longer running. Make sure to do the required research to ensure that you receive the rewards that your hashing power deserves.
The DGBB also provides a means for Dash to fund its own development. While other projects have to depend on donations or premined endowments, Dash uses 10% of the.
Dash Mining Algorithm Dash employs the X11 mining algorithm, which comes with a series of positive and negative consequences. Upsides Encourages Decentralization The X11 mining algorithm encourages decentralization by discouraging the use of ASIC hardware. At least for the time being, X11 is quite complicated to implement with custom circuits. This means that miners have good reasons to use affordable mining hardware that an average Joe like you and I can set up easily as well. By keeping affordable hardware relevant in the X11 mining game, we find that centralized operations with massive ASIC racks aren’t justifiable for casual Dash mining. However, keep in mind that this will change in the foreseeable future. Affordability X11 mines with relatively low power consumption compared to Bitcoin’s SHA256 PoW (Proof of Work) algorithm.
This means that casual users are more likely to find their power cheap enough for a personal mining project. Efficiency X11 boasts to be efficient to the point of reducing the strain on your hardware. As a result, you’ll find that your cards will run cooler than if they worked on Bitcoin’s SHA256 algorithm, which makes your cards last longer and less prone to abrupt overheating. Downsides Lacking Community Although X11 itself is quite widespread, the mining saturation of each individual coin is low compared to the Bitcoin network itself. This means that even though you might find more rewards than when mining, say, Ethereum or Bitcoin, the reward will not be worth as much. Introduction of ASIC While X11 was designed with the intention to stave off ASIC miners, we’re already seeing ASIC miners flooding the Dash mining scene. In a sense, this removes one of the main selling points that X11 had at the time of its release.
Dash Mining Profitability Before jumping into any major purchases, make sure to estimate whether your circumstances can lead to dash mining profits. Use this Dash to predict projected profits based on your power consumption, hashing power and electricity costs. It can help to compare different profitability estimators to have higher confidence as to what you might be spending on running your rig. Here are some suggestions: You can also find plenty of profitability calculators, like, that let you calculate the profitability of several other altcoins on the market. Mining Other X11 Coins X11 is also used by several other cryptocurrencies. These are: Darkcoin, GiveCoin, Global Denomination, Hirocoin, Logicoin, StartCoin, SmartCoin, Europecoin, LimeXCoin, Muniti, Quebecoin, XCurrency and some less serious cryptos like ConspiracyCoin, Cannabiscoin, HashCoin and Nyancoin. As you can imagine, all hardware that proves to be effective for Dash mining should also be productive for other X11 based coins.
Just keep in mind that your ROI will likely be much higher by mining Dash because of its vastly higher price than its competitors. However, it’s worth noting that one of the other coins might overtake Dash in the future. It might seem unlikely now, but you never know.
Contents • • • • • • • • History [ ] Dash was originally released as XCoin (XCO) on January 18, 2014. On January 28, the name was changed to 'Darkcoin'. On March 25, 2015, Darkcoin was rebranded as 'Dash.' Dash is a of 'Digital Cash.' Within the first two days of launch, 1.9 million coins were mined, which is approximately 10% of the total supply that will ever be issued. Creator and lead developer of Dash, Evan Duffield, attributed this to a bug created when the code was forked to create Dash, 'which incorrectly converted the difficulty, then tried using a corrupt value to calculate the subsidy' Once the problem was resolved, Evan offered to relaunch the coin, but the community overwhelmingly disapproved.
He suggested an 'airdrop' of coins in order to broaden the initial distribution but the community also disapproved of this proposal. As such, the initial distribution was left alone and development of the project continued. The majority of mined coins were distributed on cryptocurrency exchanges in the following months at very low price levels. The Dash Core Team, responsible for developing the currency, has since grown to 30 full-time employees, 20 part-time employees, and dozens of unpaid volunteers. All Core Team employees are paid from Dash's budget system and therefore are not reliant on donations or sponsorships that can lead to conflicts of interest. According to CoinMarketCap, in June 2017 the daily trade volume of Dash was approximately $100 million per day and the of Dash exceeded $4.8 billion.
Dash has become the most active altcoin community on BitcoinTalk reaching more than 6400 pages, 133k replies, 7.9M reads. Features [ ] Masternodes [ ] Unlike Bitcoin's single-tier network, where all jobs on the network are performed by miners, Dash utilizes a two-tier network. Certain network functions, such as creating new blocks, are handled by the miners. The second tier of the Dash network consists of 'masternodes' which perform PrivateSend, InstantSend, and governance functions. Masternodes require 1000 DASH as collateral to prevent. That collateral can be spent at any time, but doing so removes the associated masternode from the network. Because masternodes provide vital network functions, the block reward is split between miners and masternodes, with each group earning 45% of the block reward.
The remaining 10% of each block reward funds the 'budget' or 'treasury' system. PrivateSend [ ]. Masternode distribution worldwide, excluding and nodes (as of March 2017) PrivateSend is a coin-mixing service based on, with numerous modifications. These include using masternodes instead of a single website, chaining by mixing with multiple masternodes, restricting the mixing to only accept certain denominations (e.g.: 0.01 DASH, 0.1 DASH, 1 DASH, and 10 DASH, etc.), and passive mode. The maximum allowed for a PrivateSend transaction is 1000 DASH. Later iterations used a more advanced method of pre-mixing denominations built into the user's. The implementation of PrivateSend also allows masternodes to submit the transactions using special network code called DSTX, this provides additional privacy to users due to the deadchange issue present in other CoinJoin based implementations such as DarkWallet and CoinShuffle.
In June 2016, DarkSend was rebranded to PrivateSend. In its current implementation it adds privacy to transactions by combining identical inputs from multiple users into a single transaction with several outputs.
Due to the identical inputs, transactions usually cannot be directly traced, obfuscating the flow of funds. PrivateSend makes Dash 'fungible' by mixing the coins in the same denomination with other wallets, ensuring that all coins are of the same value. InstantSend [ ] InstantSend is a service that allows for near-instant transactions. Through this system, inputs can be locked to specific transactions and verified by consensus of the masternode network. Conflicting transactions and blocks are rejected.
If a consensus cannot be reached, validation of the transaction occurs through standard block confirmation. InstantSend solves the problem without the longer confirmation times of other cryptocurriencies such as. In June 2016, InstantX was rebranded to InstantSend. Governance and funding [ ] Dash is the first powered by a decentralized governance and funding system. Decentralized Governance by Blockchain (DGBB), often referred to simply as the 'treasury system' is a means of coming to consensus on proposed network changes and funding development of the Dash ecosystem.
Ten percent of the block rewards go to this 'treasury' in order to pay for projects that benefit Dash. Funding from the treasury system has been used to hire additional developers and other employees, to fund attendance at conferences, and to fund integrations with major exchanges and API providers.
Each masternode operator receives one vote. Proposals are eligible for funding according to the following formula: (YES VOTES - NO VOTES) >(TOTAL NUMBER OF MASTERNODES * 0.1). If there are more proposals that meet that criterion than there are budget funds for the month, then the proposals with the highest number of net votes will be paid. Community interaction with proposal submitters is done through the dash.org forums, or through community-driven websites, like DashCentral.
These websites allow proposal submitters to provide multiple drafts, then lobby for community support before finally submitting their project to the network for a vote. After the submitter has enough support, the network will automatically pay out the required funds in the next super block, which happens monthly.
The funding system has seen revenue growth. In September 2015, the treasury system provided $14,000 in funding per month. [ ] Due to increases in the value of Dash, as of March 2017 the treasury system provided about $574,000 per month in funding. The treasury system has created a positive feedback loop, whereby additional development increases the value of Dash, which increases the amount of funding provided by the budget system. References [ ]. Retrieved 17 June 2016. Retrieved 17 June 2016.
Retrieved 2017-09-26. Retrieved 17 June 2016. Retrieved 6 January 2018.
27 September 2015. • Ryan Taylor, Director of Finance, Dash (May 29, 2017)..
Retrieved June 13, 2017. CS1 maint: Multiple names: authors list () •. Retrieved 26 November 2017. Retrieved 15 June 2016.
Retrieved 24 September 2015. Dash Masternode Information. Retrieved 2017-03-19. Retrieved 4 March 2017. Retrieved 2016-03-27. Retrieved 2016-03-27.
The Dash Times. Retrieved 2016-07-10. Retrieved 15 June 2016.
Windows Store PACcoin PAC Miner there. Retrieved 15 May 2017. Retrieved 13 March 2017. External links [ ] Wikimedia Commons has media related to.