🤓¿Qué es un Whitepaper?📜Detalles sobre el libro blanco de Dash 🔥 - YouTube

Hello, communiDash. Welcome to another definition of the Dash Help's Crypto-dictionary.

In this occasion we will talk about the document that starts the cryptocurrencies' projects: What is a Whitepaper?

Just like every company has its business plan, cryptocurrencies have a whitepaper,

a pretty brief document, which is meant to introduce the intentions and objetives of a project

with the purpose of providing a solution to customers.

The whitepaper is meant to describe the characteristics, functionalities and aspirations of a blockchain, cryptocurrency or a similar platform.

In the case of Dash, you just need to enter the Dash's official website, and you will find its whitepaper in different languages.

Or you can also ask for it to the Official Dash Support Center, Dash Help.

But, if reading a long text is not your plan right now,

then stay tuned until the end of this video, because up next I will show you all the things you will find in the whitepaper of Dash.

The first whitepaper of a cryptocurrency was launched in 2008, with the creation of Bitcoin by Satoshi Nakamoto, which brought an open source blockchain.

This means that anyone can use its information to create a new cryptocurrency.

Well, well! Not anyone. I mean, you know, any person with knowledge of software development, such as the case of Evan Duffield, the creator of Dash.

In the whitepaper of Dash, Evan introduced us to the purpose of this cryptocurrency which is to improve the characteristics of Bitcoin

by creating a new currency that allows to make instant, safe, anonymous transactions and also for it to be easy to use for any person.

This time I am talking about any person. Even those who know nothing about technology.

The whitepaper of Dash algo introduced us the Masternodes, which are servers in charge of providing the services of privacy (PrivateSend) and instantaneity (InstantSend).

Let's say that the Dash netwok is like a money transfer center and the nodes are the direct messengers.

Just that, instead of transporting in a conventional vehicle, these messengers would travel with the speed of a spaceship, allowing to get the message in a fast and safe way.

Also, Masternodes also perform a Decentralized Autonomous Organization, which allows the self-sustent of the cryptocurrency

and the decision making of things that benefit the ecosystem, without needing third parties.

As you can see, Masternodes are extremely important for the Dash network to work without any problems.

However, any person, can become a Masternode, as long as it complies with the requirements.

If you would like us to delve a bit more about the guidelines and requirements that must be followed to become a Masternode, leave us a comment and we will answer it in another video.

As we may know, cryptocurrency transactions may take a considerable time that may last minutes or even hours, depending on many factors.

In the case of Dash, its whitepaper allows us to know deeply how the mechanism of InstantSend works.

In simple words, it is a smart software that ensures the user that they will receive the money in less than 2 seconds,

being an unique characteristic of Dash compared to the other cryptocurrencies.

Because there is no hidden intentions in a real cryptocurrency, the whitepaper of Dash, shows us how PrivateSend works,

a service that makes your data to be safe at the moment of making a transaction.

In simple terms, the whitepaper shows us how the network manages to hide both the initial address that sent the funds

and the final address where the funds were received through a coin mixing technique.

In this sense, if you want to send 50$ to a person, but you don't want that person to know your address,

this money would mix with many other transactions in the network, and it would be exchanged with different addresses with smaller amounts.

This way, you will still receive 50$ but without the trace of the initial address.

We finally came to the lasts sections of the whitepaper of Dash, a space in which you will find different proposals that improve the experirence of users.

Among them, there are: the progress of the hashing algorithm x11 - which consists of 11 security rings that protect the cryptocurrency from attacks and other aspects that we can delve in other videos.

For now I will anticipate you that just like gold and many other cryptocurrencies, Dash also has limit of issue that is already programmed and in its whitepaper it is specified that:

Around 17.74 to 18.92 millions of Dash coins will be created, (depending on the distribution of the treasury)

and to restrain the inflation, the production of coins is reduced 7.14 % every year. However we will have new Dash coins until 2150.

This does not mean that Dash will disappear, the opposite! The coins will be maintain circulating,

just that we will have a fixed number of coins to operate and its value will be higher, most likely, because of the scarcity.

So run and obtain your Dash before it's too late.

And this was the definition of whitepaper of the Dash Help's Crypto-dictionary,

if you have any questions feel free and write us in the comments and also comment the terms you would like to see in our channel.

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See you in the next definition.