The key difference between Dash and bitcoin
If you want to convert Dash to Bitcoin you should know first the differences between these two cryptocurrencies.
Launched in 2009, Bitcoin is the first cryptocurrency which has shown the mass audience the possibility to make instant peer-to-peer transactions. With Bitcoin, there is no need for the third parties when you make the payment because all the transaction details are written into the public ledger and anyone can see them.
The Bitcoin wallet is a huge mix of numbers and letters and it is very difficult to find out who this specific wallet belongs to. However, it’s not totally impossible.
Dash resolves this issue and offers its users full invisibility and anonymity. So if you are looking for the privacy you may need to convert BTC to DASH.
What is Bitcoin mining algorithm?
Whether you want to convert Dash to BTC or vice versa Bitcoin to Dash you might find information about these cryptocurrencies’ mining algorithm useful.
In order to mine new Bitcoins special mining equipment ASIC is used. This equipment resolves computational problems and the owner of this equipment receives a reward in Bitcoins every time the new blocks are found. To find the new block, you must have access to the previous one as every new block you find is linked in one chain with all the blocks that have been found before. This is why the whole system is called the blockchain.
The transactions on that Bitcoin blockchain are irreversible as in order to change the information about this specific transaction in all the blocks you have to control more than half of them, which comes against the idea of decentralized means of payment.
What is Dash mining algorithm?
Dash is the fork of Bitcoin and has the same mining technology behind it. Dash is mined with the help of the special equipment. Due to the cryptocurrencies popularity rising over the last few years it has already become unprofitable to mine cryptocurrencies on your own. If you want to make profits on Dash mining it is advised to join one of the best mining pools. You can find the information about them on the Dash official website.
The circulating supply of Dash equals to 8,643,307, while its maximum supply equals to 18,900,000.
For Bitcoin, the circulating supply equals to 17,550,325, while its maximum supply equals to 21,000,000.
If you want to convert Dash for BTC, the market capitalization is a very important index that you should pay attention to.
For Dash, the current market capitalization equals to $735,549,894.00. Bitcoin’s capitalization equals to $69,472,677,282.00.
Volume of transactions
During the last 24 hours, Dassh volume of transaction equals to $240,577,401.30. For Bitcoin, this index equals to $8,451,714,656.20.
Average transaction speed
With a block size of only 1 megabyte, Bitcoin allows to process only 7 transactions per second. Also, to make a transaction you have to pay the network fee and if it is too small your money may never even reach the recipient. When too many people try to send Bitcoins at the same moment of time, the network gets overloaded and the transaction fees become really high. The higher fee you pay, the faster the money or reaches the end point. In case of her usual overload the transaction confirmation takes between 5 and 30 minutes.
Transactions on Dash are much faster and you can expect to see your money in your wallet within 3 minutes if you exchange Dash for BTC.