Hello in this lesson we're going to learn about a newer popular cryptocurrency and it is you can guess because it's written right here is dash and a lot of other coins like Bitcoin for example has the shorthand term BTC just the way stocks have short term ticker short hand tickers, fear me NT hate tetra, etc dash K so it's a very short name anyway, they've just kept the dashes or capitalized that that is the ticker for dash if you're interested. So, dash What is it? How does it compare to Bitcoin? Why may you want to use it? Obviously it is a cryptocurrency. It is a crypto currency if it wasn't it has no place to be in this video.

But the real innovation around dash is less about The technology side, don't get me wrong. We'll be talking about some of the innovations regarding the blockchain technology side as well, which actually the UI, it's more user friendly for the UI. Because it's more user friendly. It's actually more like a bank or PayPal. So as a result, users actually prefer it in a way more because it's, it feels familiar. They've already used services like this.

And I'll explain why it's more user friendly. You send point in dash using you then the name You don't have this really long address or anything. So it's similar to PayPal, using email addresses, because let's just say, I want to send a $10 to my friend via PayPal, my friend's name is, let's say, Bob Paris, and maybe his email is Bob harris@gmail.com. That's a very easy thing to remember. and easy to note down as well. But we PayPal because it's just this really long randoms set of characters.

That is very hard to remember right? You pretty much nobody's gonna remember that. As a result, did not note it down the probably gonna have to text it over or email it over their public address so people can send you out having to do this with everything will pass. And that you want to interact with on the network that isn't nearby where you can send device via some sort of bug, like barcode or anything like that. That can be frustrating. So for that reason, that little simplicity actually goes a long way.

So it doesn't have confusing IDs that look like computer error codes, which, frankly, they sought to do, and that is quite a negative aspect of Bitcoin. So it's also much faster than Bitcoin. Another reason why you might want to use dash dash how it differs From Bitcoin, it has lower fees compared to Bitcoin, that's a never great reason for using it. It has optional privacy. So if you want to be open about your ID, you can do that as well. I know this whole race around cryptocurrencies and blockchain based systems is about anonymity, but there may be people that don't care about it or don't want to be anonymous.

Maybe the people on people, maybe their organizations, maybe it's a government using it, and they by law, have to or they by law want to make it so they have to be open about it. So they can't just be used hiding behind pseudonym pseudonyms, like the IDs that the Bitcoin employees that just provide pseudonymity instead of proper anonymity. In terms of the max total, the max total number of coins, Max total is just 10. And I'm joking. It's 19 million. So that compares to bitcoins, Bitcoin is 12,000,021 million.

But again, that doesn't really matter too much, because if it can be divided, which they can, then you just get around that issue. There is something called a formal governance and governance or government, you might be thinking out the ad, this is totally bad. Now, this cryptocurrency isn't good at all, but just hear me out. So they formal governance, and it's not a thing or 40 or anything. So it's none of that sort of conventional stuff, where it uses a voting system which allows important changes to take place. So, as a result, there's no need for hard forks, which is ultimately divided in the Bitcoin community and any community that is having hard forks as a result of there not being a proper consensus of the way they want to move forward.

And this as a result is a more demo cratic system. Bitcoin is a democratic system, but this is even more of a democratic system as a result of this formal governance. And there are other differences as well. Another really cool difference is in uniform something called a sales funnel. Did blockchain and this is done in regards to how the actual coins are split once their mind. So, usually when you might a coin you get all the coins in other cryptocurrencies whereas with dash 45% go to the minus 45% go to masternodes.

To become a master node you need to have invested 1000 dash coins and the masternodes are the one that are allowed to you know do voting etc. They go to masternodes you can almost think of like masternodes and a decentralized authority system of like small government operations, and it's almost like attacks essentially are being tasked with like attacks and 10%. Go to the Treasury This 10% roughly is the equivalent to over 1 million a year, 1 million per year, actually over 1 million per year. And you might be thinking, Okay, what does this Treasury do with all this luxurious money, and then I just spend money on fast cars and all this other stuff. They're actually helping fund the development team, because an open source community is great. And I'm all for open source.

I've created open source projects I contribute towards open source project. But even this is them, they can actually properly fund it. He helps fund the actual website. So not just the development of the underlying technologies, the website that users are using. It helps fund other aspects of the business like aspects such as marked in customer support. These aren't things that come immediately to one's mind, but they're important.

And PayPal wouldn't work very well, bank wouldn't work very well, if they don't properly market their stuff, whether it's a new interest rate or new package, or just a new bank in general, or customer support, if they don't have customer support that when users are having issues, then at the end of the day, people will go to something else because they want the extra thing. And there's also potentially there's potential for even public events using the treasury of money to create awareness and all the various things that you generally do with money within a business. So dash has a large difference is to become yes is blockchain based Yes, it's a cryptocurrency Yes, it's decentralized, distributed all of that good stuff. But it's sort of like getting report where it's got certain conventional aspects that are in the banking system the fear currency, but in fact it brought it over to a decentralized distributed network in the form of cash.

So I think there is all our potential for a dashed line network. So I think dashed line because I think the concepts and the philosophy of dash is very good. And I think that is a good thing to look at when creating a cryptocurrency future, which is what we're heading towards. And in terms of market cap, I know a lot of people are interested in this. This is one of the first things I check out. Bitcoin has a market cap of 105 billion with each coin as of now been worth $6,350 Yoda worth a lot?

Dash dashes market cap left at 2.2 billion again no cryptocurrency as of now in 2017 is anywhere close to Bitcoin because again Bitcoin was the original one. Well, he had the first mover advantage. In terms of the coin, it costs $1 I'm joking. I'm just joking. It is it costs $282 per coin. So that's really everything you need to know about dash compared to Bitcoin.

If you have any questions, feel free to reach out, feel free to go over the video again, have a look at the differences of Bitcoin and dash. And as usual, thank you for watching, and I look forward to seeing you in my next lesson.