Introduced in 2009, Bitcoin developed a great network in a short span of time. The network of Bitcoin increased and further development has been done; however, to imply the improvements became difficult. The changes in Bitcoin can only be done when all network participants create contentious debates and that are witnessed in the scaling debate of Bitcoin. Owing to some of its weaknesses, the cryptocurrency can only be used in specific cases.
When talking about Dash, its developers wanted to make a new blockchain that is free of weaknesses. The developers of Dash made a new blockchain in order to make it the first self-governed and self-funding blockchain protocol that helps in making instant payments on the network of Masternodes. Following are some of the features of Dash that Bitcoin does not possesses.
Bitcoin takes an average block time of 10 minutes and large purchases can take long time to complete the transactions. InstantSend make use of instantX Masternode to confirm and complete transactions in seconds. In Dash, InstantSend feature is used.
Dash introduced Masternodes in order to benefit users with payments, add transactional features, and secure the network. The operators of Masternode invest around 1,000 Dash for hosting a Masternode and get around 45% reward for mining a Dash block. Each month, a Masternode operator receives 7 dash as reward. However, with Dash, case is completely different.
As Bitcoin transactions can be traced by the users or somebody on the blockchain; however keeping this thing in mind Dash introduced PrivateSend. It helps users in order to make their transaction details private.
Dash blockchain is decentralized and self-funded. Around 10% of each Dash block is allocated to Promotion Budget and Network Development. This ultimately means developers and promoters of Dash will receive incentives for contributions and in case of Bitcoin, contributions are not incentivized and voluntary.
Apart from this, weakness of Bitcoin include block size limit as it slows processing of transaction and constricts the block average time, and ultimately Bitcoin usage in real world is constricted. In addition, Bitcoin lacks funding model that leaves the further development on interest groups or volunteers. Also, the data validation in Bitcoin is processed by low end-notes; hence there is no financial incentive involved.
As a result, Bitcoin faces a number of challenges regarding market adoption and as peer-to-peer electronic cash.
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