Dash (DASH) Amount: 1.0 DASH
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
Dash (previously known as Darkcoin and XCoin) is an open-source, decentralized cryptocurrency designed to provide fast, private, and secure transactions. Launched in 2014 by Evan Duffield, Dash was created as a more privacy-focused alternative to Bitcoin, with additional features aimed at improving transaction speeds and supporting a self-governing and self-funding model.
Dash utilizes a unique two-tier network architecture, consisting of miners and masternodes. Miners are responsible for securing the network and creating new blocks, while masternodes perform specialized functions such as facilitating InstantSend (near-instant transactions) and PrivateSend (anonymizing transactions by mixing coins). To run a masternode, a user must hold a certain amount of Dash as collateral, ensuring that they have a vested interest in maintaining the network's integrity.
Dash employs a consensus mechanism called Proof-of-Work (PoW) with the X11 mining algorithm, which is designed to be more energy-efficient than Bitcoin's mining algorithm. Additionally, Dash has a unique governance and funding model, with 45% of the block rewards allocated to miners, 45% to masternodes, and 10% to a treasury system that funds community-proposed projects and developments.
While Dash has not gained the same level of mainstream adoption as some other cryptocurrencies, it has maintained a loyal user base and continues to be a popular choice for those seeking a privacy-oriented digital currency with fast transaction capabilities.