In 2017 I wrote a blog post called, Is Bitcoin Mining Halal or Haram?, and we came to the conclusion that at that time there was no consensus among scholars about whether mining Bitcoin is halal or haram. Rather, we stated that Bitcoin mining is halal because there was no obvious evidence to suggest that mining Bitcoin is haram.

However, years later, this question is still being asked by many so I figure it’s time for an update.

Is cryptocurrency mining halal or is Bitcoin mining halal? The simple answer is, yes. Bitcoin mining is halal. Bitcoin mining is nothing more than the act of verifying transactions on the Bitcoin blockchain by a Proof of Work protocol. Bitcoin miners who successfully verify transactions are providing a service to Bitcoin users as well as providing security to the Bitcoin network and they are rewarded Bitcoin for their effort and there is nothing haram with this.

Great! You have an answer to your question. But now you must be thinking, but what about those who say Bitcoin is haram and in addition to that also say, or imply, that Bitcoin mining is haram?

If this is your thought process, then please read on.

Is mining crypto haram?

In my previous blog post, Is Bitcoin Halal? 10 Scholars’ Opinion on Bitcoin, I noted that some scholars have said that all aspects of cryptocurrency are haram and this includes mining Bitcoin.

Two of the main reasons some scholars have said that crypto mining is haram are:

1. Bitcoin (or any cryptocurrency for that matter) is not backed by a government; therefore, all aspects of Bitcoin, including mining bitcoin, is haram since there is no government approval.
   
2. Bitcoin mining is resource intensive and uses too much energy which in turn is bad for the environemnt; therefore, Bitcoin mining is haram.

But how accurate are these two reasons as to why some scholars would rule Bitcoin mining as haram and can we say that the above-mentioned reasons are, reasonable?

Bitcoin backed by government

For those scholars who say that all aspects of Bitcoin are haram because Bitcoin has no government backing, they mean that governments do not recognize Bitcoin as currency, money, or legal tender; therefore, Bitcoin, and this includes Bitcoin mining, would be seen as haram.

However, over the past 10 years since Bitcoin has been around, more and more governments have changed or updated their laws allowing their citizens to participate in crypto markets with governments recognizing Bitcoin as either a currency, an asset, or even property.

2021 has also marked the first time that a country’s government has not only allowed the permissibility of Bitcoin use for its citizens, but it is the first time that a government has also recognized Bitcoin as legal tender. In other words, we finally have Bitcoin backed by a government.

In June of 2021, President Nayib Bukele of El Salvador made history by passing a bill in the Salvadorian congress making it a law approving Bitcoin to be used as legal tender.

This now begs the question, since Bitcoin is backed by a government, El Salvador, is it then halal for Muslims in El Salvador to use Bitcoin? It seems that the answer would be, yes.

And what about mining Bitcoin? El Salvador has not only recognized Bitcoin as legal tender but the government will launch a Bitcoin mining initiative for the country as well. We’ll touch on that later in this blog post.

Now, are we saying that all countries recognize Bitcoin as legal tender or all countries approve the use of Bitcoin – and this includes Bitcoin mining – of course not. We know that China has just recently banned Bitcoin mining in their country.

Update: China has now banned ALL cryptocurrency activities.

Regardless of this, we are observing a growing acceptance by governments worldwide to explore the use of cryptocurrencies in their countries and/or allow their citizens to use cryptocurrencies even when there are no clear laws or guidelines in place or even if the government does not implement a law stating that Bitcoin is legal tender.

Bitcoin energy consumption

Another argument made by some scholars as to why Bitcoin mining is haram is because it is commonly stated that Bitcoin mining electricity consumption utilizes large amounts of energy to mine transactions and is therefore bad for the environment.

This has also been mentioned by our sheikh, Assim Al Hakeen, and I have touched on this in a blog post called, 10 Reasons Why Bitcoin is Haram. Sheikh Assim Al Hakeem Bitcoin Fatwa.

I have also been of the mindset that Bitcoin mining is resource-intensive and uses a high amount of energy to mine Bitcoin. However, the question that I failed to ask myself was, Bitcoin mining is resource-intensive compared to what?

When comparing Bitcoin mining to the energy consumption of the banking and gold industry, two industries that Bitcoin is regularly compared with, then we begin to see a different story.

Galaxy Digital has released a report called, On Bitcoin’s Energy Consumption: A Quantitative Approach to a Subjective Question, which states that Bitcoin mining uses less than half the energy of what is used in the banking or gold industry.

The chart below shows that the banking industry uses around 263.72 TWh per year and the gold industry uses about 240.61 TWh per year and Bitcoin uses less than half the energy of both of these industries, 113.89 TWh per year.

So, is Bitcoin mining resource-intensive? Does Bitcoin mining use a lot of energy? The answer is, yes. But so are other industries that are a mainstay of human life – the banking and gold industry. As we stated, annually, they both consume more energy than Bitcoin.

So if the argument is that Bitcoin mining is haram because it is resource-intensive and not environmentally friendly, then the same argument must be made for the banking and gold industries.

So what are possible solutions? Are there alternatives as to how we can mine or verify Bitcoin and cryptocurrency transactions in a manner that is environmentally friendly?

The answer to that is, yes. We are now seeing cryptocurrencies such as Cardano, Dash, and Ethereum already utilize or plan to move to a Proof of Stake (PoS) protocol which utilizes less energy consumption than a Proof of Work (PoW) protocol.

Cardano claims that their PoS protocol utilizes 6 gigawatt-hours of energy annually which is far less than Bitcoin. Now, will we see Bitcoin move to a PoS protocol? I doubt it, as many Bitcoin advocates hold the belief that Proof of Work is the most robust and secure way to secure the network and do not want to see that change, but it could be that future cryptocurrencies will put their focus on PoS rather than PoW to address environmental concerns.

In addition to moving to Proof of Stake, another solution would be to utilize renewable or clean energy for mining cryptocurrencies.

Remember how we noted that El Salvador has also launched a Bitcoin mining initiative? Well, the El Salvadorian government is planning to utilize their geothermal resources, volcanic energy, to mine Bitcoin thus making Bitcoin mining environmentally friendly by utilizing renewable and clean energy.

So, do we finally have Bitcoin that is backed by a government? Yes.

Do we have Bitcoin being mined by clean energy or do we have cryptocurrencies moving to a more environmentally friendly way of verifying transactions by protocols such as Proof of Stake? Again, yes.

Since this is the case, then I foresee scholars changing their opinions on their ruling of Bitcoin and not making such blanket statements.

Muslim countries and cryptocurrency mining

Now you may be saying, well, that all sounds great for El Salvador, but what about Muslims in Muslim countries? Is cryptocurrency mining halal in Muslim countries?

Well, I have another blog post called, Muslim Countries Where Bitcoin Is Legal Or Illegal, where you will not only see a list of Muslim countries and their legal stance on Bitcoin but you will also see that some of the countries highlight cryptocurrency mining initiatives that are underway in their respected countries.

Pakistan is one of those countries. Pakistan has launched a cryptocurrency mining initiative for the province of Khyber Pakhtunkhwa to build Bitcoin mining farms with the hopes of opening up their mining farms to investors in the future.

Kazakhstan has also been taking lead in the Muslim world when it comes to having government-backed cryptocurrency mining initiatives and has already produced a number of cryptocurrency mining farms.

In an article by Aizhan Abilgazina, A New Kind of Mining: Kazakhstan Stakes Its Claim in the Cryptocurrency Industry, Aizhan states,

Kazakhstan has seen a significant growth in cryptocurrency mining activities with around $200 million having been already invested in 13 mining farms that are operational around the country with four more under construction.

By Aizhan Abilgazina

The Kazakhstan government also has plans to actively seek outside investors who are seeking cryptocurrency mining in their country.

Last month, Kazakhstan’s minister of digital development, innovation and aerospace industry, Askar Zhumagaliyev, announced that the department is planning to attract 300 billion tenge, or $738 million, worth of investments by 2023 for activities related to cryptocurrency mining.

Source – Asia Times

The only downside I see to cryptocurrency mining in Kazakhstan is that half of their energy consumption comes from coal and coal tends to be considered as “dirty energy”.

Conclusion

Again, we are seeing an evolution as to how governments, more specifically, Muslim governments, are interacting with cryptocurrency and the blanket argument that Bitcoin does not have government backing and therefore Bitcoin mining is haram does match realities on the ground.

And in all fairness, many of the scholars who said that Bitcoin and Bitcoin mining is haram had declared such opinions years ago. Times change, new information becomes available, and it may be that these scholars have also changed their opinion.

We have come a long way since Bitcoin and cryptocurrency hit the world stage over 10 years ago and as our overall understanding and education of cryptocurrency has evolved, so has the opinion of our scholars.

So, is Bitcoin mining halal? According to a number of scholars, yes. You are providing a service and being compensated for that service. The only thing you must do now is to check your government’s legal rulings on cryptocurrency.

And in the end, Allah knows best.

PLEASE KINDLY SHARE THIS ARTICLE IF YOU’VE FOUND BENEFIT IN IT

Privacy is important to everyone and there are many things that we choose to keep private or that we choose to only share with those close to us. However, whether it’s about personal finances, our health condition, family, or relationship matters, the truth is that nowadays, we end up sharing way too much personal and “private” information on the internet.

That can sometimes have far-reaching consequences. We have a recent example of this in the case of Cambridge Analytica.

But many entities also use our data in an attempt to sell us products and services or steer our decisions based on our selection on race or health status. Also, when you trade cryptocurrencies, your identity, wealth, and freedom may also be in danger.

But cryptocurrencies like Bitcoin are private and anonymous, right?

Not at all. Did you know that Bitcoin is traceable?

However, there are alternatives to give users the power to carry out operations in a truly secure, private, and anonymous way: privacy coins. Today, let’s talk about Monero ZCash and Dash. The 3 Best Privacy Altcoins.

The importance of privacy to protect your personal identity, transactions, sovereignty, and personal wealth

All our digital activities leave their mark, whether when making calls, surfing the web or when making payments with our credit cards. The worst part is that the companies that provide these services store this information and use it in many ways without our prior consent.

Privacy is the power we have to decide who knows what we do in our daily lives, and who does not. Having privacy protects our finances, our health and our peace of mind in ways you may not have imagined:

1.- Personal identity

Privacy is respect for individuality and the freedom to be ourselves, make our own decisions – and have them respected – and be responsible for our actions. The problem is that many times, others may not see our privacy as important when it somehow interferes with other “more relevant” matters. It’s in those moments when different organizations will put aside our privacy say:

“It is for the common good.”

Or:

“It is for our nation.”

Another important aspect of privacy for individual identity is the right to change. As humans, we can make mistakes. After all, Allah says we are from Bani Adam, and Bani Adam (human beings) makes mistakes, so no one is born with a manual tucked under their arm called, “How to be perfect.”

But you have the right to put the past behind you, learn from your mistakes, and give your life a new start, a new direction, all in the interest of maturity and personal growth. Having the means to control your own privacy online can most certainly help you with this.

2.- Transactions

Many times, people will see many of our actions as if they were something strange, simply due to a lack of context and understanding about our motivations.

Nobody wants to explain each act – often insignificant – that they perform day by day, hour by hour, and minute by minute, so privacy allows us to perform many of our daily activities in peace.

On the other hand, many types of relationships are based on privacy or confidentiality, which in turn is backed by trust. In many professional, business, or government relationships, when confidentiality is broken, trust is broken and the relationship is damaged.

Unfortunately, many organizations do not respect this factor and end up abusing the trust you give them, spying on your transactions, and using this information for their own benefit.

3.- Sovereignty

Privacy helps you limit the power that others might have over you, including large companies and governments. The manipulation that many organizations perform on your personal data for different purposes can influence a good part of the decisions you make – when making a purchase, for example.

You also have the right to meet privately with people who share interests and opinions similar to yours, whether in business, politics, or religion. This is very important as many times, third parties who may not share such ideas may also try to interfere to change those points of view. This is a threat to your freedom and sovereignty.

4.- Personal wealth

The vast amount of data that companies generate and store nowadays is used to gain greater control over processes and to create analytics-based predictive models to aid in decision-making.

All this data must be collected with the guarantee that no access has been violated or that there has been no manipulation that can influence the results of the data which can lead to negative economic outcomes for the organization.

Cybersecurity is in charge of taking care of the storage and privacy of this data to prevent that nothing and nobody can alter it or consult it without permission. Of course, when it comes to personal finances, the protection and privacy of your passwords, as well as the use of your money, is vital to preventing malicious agents from trying to scam you and steal your hard-earned money.

How privacy altcoins are taking lead when it comes to protecting user privacy

Cryptocurrencies have several features that make them ideal to be used as money on the internet. Security and privacy are two of these characteristics, but the reality is that the technology behind some cryptocurrencies, like Bitcoin (BTC), only protects users up to a point.

During the early years of Bitcoin, people believed that transactions were totally private and anonymous but in reality, it’s possible to trace all of Bitcoin’s transactions in its public ledger known as blockchain.

Realizing this, some groups of developers decided to create alternative cryptocurrencies to BTC that focused on protecting these aspects when carrying out operations on the blockchain; these are the so-called “privacy coins.”

The developers of these altcoins have tried to equip them with new advanced cryptography methods to maximize their ability to guarantee anonymity, to the point where some are still truly untraceable.

Although today, the number of privacy coins has increased significantly, the following three remain the most popular and important in the crypto ecosystem.

1.- Monero

Monero is currently positioned as the most notable private cryptocurrency in the ecosystem – it’s the one with the most market capitalization, according to CoinMarketCap.

Monero (XMR) was launched in 2014 as one of the first altcoins not based on the Bitcoin code, as it’s actually based on the CryptoNote protocol.

The Monero protocol uses confidential transactions and ring signatures to demonstrate ownership of unified cryptocurrencies in a group of transactions, without revealing which of these transactions was cryptographically signed.

In this way, it mixes the signed transaction with other operations, so it isn’t possible to know which transaction belongs to which person. It’s also noteworthy that in Monero, all transactions are private and anonymous by default.

Monero makes it possible to shield transactions against spies – such as analytics companies – but users can also use blockchain explorers to obtain information about the transactions.

Although the use of Monero has usually been linked mainly to black markets and unauthorized web mining, some web portals have implemented Monero mining as an alternative to generating income without resorting to invasive advertising.

You can learn more about Monero in this article, Why Monero is Better Than Bitcoin at Privacy.

2.- DASH

Dash or Digital Cash is a cryptocurrency launched in 2015 developed from the Litecoin code, and it’s an altcoin that has gained wide acceptance in several Latin American countries.

Unlike what happens with Monero, in the Dash protocol, private transactions – known as PrivateSend – are optional. These transactions are carried out between three users who wish to use this service, generating new addresses belonging such users. These transactions are mixed between the participants to erase the trace they leave on the network, something that can be repeated up to eight times automatically.

This task is carried out by the master node system of the Dash network, which mixes the transactions that have requested the PrivateSend service.

Masternodes are the governing figures of the Decentralized Autonomous Organization (DAO) that runs the Dash network and a masternode is a network member that proves to have at least 1,000 DASH.

Dash is a fairly complete ecosystem that offers its users tools to make private transactions, as well as a desktop wallet, a lightweight desktop wallet, an app and even a paper wallet. Dash is positioned as the second privacy coin in the ecosystem by market capitalization. You can get more information here, Dash Crypto: A Privacy Coin with a Promising Future.

3.- ZCash

Based on the principle of Zero-knowledge Proof, ZCash is a privacy-focused cryptocurrency launched in 2016. The ZCash protocol uses parameters called, zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), which allow users to prove the possession and validity of certain information without the need to reveal identity or interact with other users.

As with DASH, ZCash supports two types of transactions, shielded (with z addresses) or transparent (with t addresses), and users can choose the type of transaction they want at any time.

It’s odd, but it seems that nowadays t-addresses are more used, which means that most ZCash users ignore the possibilities of anonymous transactions.

Even so, the developers of ZCash are constantly implementing improvements to the network and currently, the cryptocurrency is positioned the 57th most popular cryptocurrency by way of market capitalization compared to all other cryptocurrencies in the market in general. It is also the the third favorite altcoin of users focused on privacy. Learn more here, What are the Benefits of ZCash?

Some reasons to underline the importance of privacy while transacting with cryptocurrencies

At first, these cryptocurrencies went unnoticed by a good portion of cryptocurrency users and investors. This was due in many cases to the bad reputation that has been created around them by calling them “criminal coins” – as some of their features are suitable for illegal activities.

However, in recent months, their popularity has been growing gradually, as more and more investors are interested in speculating with them. Even so, the main intention is still to take advantage of the anonymity and privacy they provide online because it turns out that more and more users are interested in hiding their payment history and keeping their transactions untraceable.

Another important reason is tax evasion by investors; as government authorities in different countries seek to tax the use of cryptocurrencies as investment assets, investors migrate to privacy coins that allow them to hide their operations and profits.

Fungibility goes hand in hand with privacy

Today, there are a large number of cryptocurrency exchanges available on the web. This, on the one hand, expands the number of options available to all types of users.

On the other hand, a large number of cryptocurrencies move in many exchanges whose previous use is unknown most of the time by users.

These traceable cryptocurrencies could have been used in illegal activities and be part of a judicial investigation that could end up causing problems for the final holder of such coins.

With a privacy coin this doesn’t happen because its activity cannot be traced, so the cryptocurrency is visible to everyone, totally free of any guilt; it’s equal to all other currencies. This is called fungibility.

Avoid surveillance by powerful organizations

Large companies and financial organizations keep a record of your activities on their networks. This allows them to have the power to block your operations if for some reason they consider that there is something suspicious about them, even if there is nothing strange – how many complaints are there out on the web about PayPal regarding this matter?

Performing financial operations in privacy coin networks, allows users to enjoy great freedom without fear of being blocked or ending up with their accounts banned for unfair reasons.

Protect you from data loss

Every month we see in the news, how large companies report data breaches that result in the theft of valuable information from millions of users, such as passwords, social security numbers and credit cards. This happens because cyber criminals are able to keep track of information in traditional centralized computer systems.

In modern decentralized systems based on blockchain – including those of privacy coins – it’s much more difficult for this to happen, since privacy and anonymity protect user information.

Conclusion

Privacy coins represent a natural evolution of first-generation cryptocurrencies; altcoins that solve the privacy problems of users and that offer a new range of possibilities thanks to this. Developers know this and for that reason, they are implementing privacy and anonymity features in the new generations of cryptocurrencies.

It’s very likely that in the future, as the adoption of blockchain increases and with it also restrictions, taxes and threats to security and privacy, more and more people will see privacy coins as the best alternative to have privacy and freedom when operating in the crypto world.

Even though today, the interest of the general public in cryptocurrencies has increased considerably, there is still a need for projects to focus on ease of use in order to increase mass adoption of this new technology.

Dash is a cryptocurrency that was born with this idea in mind; a solution to make person-to-person payments in a quick, easy, and effective way, differentiating itself from other projects by presenting interesting and new features for mass adoption of cryptocurrencies.

The great effort that the team behind Dash has been making to promote this cryptocurrency in regions heavily hit by economic and political crises, such as Latin America, has resulted in a growing popularity of its cryptocurrency.

In this guide, you’ll learn what is special about Dash and why we think it has a promising future. Let’s get started….bismillah. (In the name of Allah).

What is Dash crypto?

According to its White Paper, Dash is a digital currency that’s based on the fundamental idea behind the creation of Bitcoin, but providing some elements of its own, such as the use of masternodes and interfaces to access specialized services such as PrivateSend and InstantSend, which allow the sending of money privately and instantly in an easy way.

As with Bitcoin, Dash also has a limited production of coins, standing at 18,900,000 Dash units, a limit that according to its developers, will be reached around the year 2150.

The Dash network is also more “dynamic” than other blockchains, since a Dash block is generated every 2.6 minutes, and the reward within each block is reduced each year by 7.14%, much faster than what happens with other cryptocurrencies like Bitcoin.

This provides a more dynamic, fast, and stable network, ideal for day-to-day use.

The beginnings of Dash

The first version of the Dash software was named XCoin and was released on January 18, 2014, following an announcement on the famous BitcoinTalk forum from its creator, developer Evan Duffield.

The community around the project considered that the XCoin name was uncommercial and flashy, so on February 28, 2014, the name was changed to Darkcoin.

However, this name would also be short-lived, as they thought that it could give a negative perception about the coin to many users, so finally, on March 25, 2014, it was changed to Dash, a reduction of “Digital Cash.”

The cryptocurrency had a somewhat bumpy start since shortly after its launch, the network presented some technical failures that, however, were quickly resolved. After this, the development team has been growing at a constant and stable pace.

Finally, in December of 2017, and thanks to the boom in the cryptocurrency market, Dash reached an all-time high price of $1,642.22 USD, which served to place this cryptocurrency among the most desired assets in the market.

How is Dash different from Bitcoin?

As usual, let’s see how Dash compares to Bitcoin, the most popular cryptocurrency.

The consensus algorithm

Here is where we can find the main difference between both cryptocurrencies; while Bitcoin uses the Proof of Work (PoW) algorithm, Dash uses X11, a combination of PoW and PoSe (Proof of Service).

This feature already makes Dash a much more scalable, dynamic, and sustainable cryptocurrency over time. Additionally, Dash uses CoinJoin mixing to facilitate private transactions within the network.

Transactions

In Bitcoin, the system requires that transactions are validated by the entire set of nodes that make up the network; this avoids requiring a central authority to perform this process.

The problem is that the PoW-based mining system requires a continuous and increasing investment in different resources like hardware, energy, and time. All this contributes to slowing down transactions within the network, but also in making them more expensive.

To solve this problem, Dash uses a masternode-based system. In this system, a subset of users that are part of a kind of staking pool, have special privileges to offer services within the network, at the same time that they receive rewards as a form of payment for their work.

Governance system

While Bitcoin requires the support of a community of academics to continue evolving, Dash has its own self-financing model. In this case, the system splits the rewards between masternodes, miners, and treasury.

Masternodes are the pieces that receive the highest percentage of rewards, and at the same time, they are the ones with the voting power to decide the future direction of the network. Another percentage of the rewards goes to the treasury which will then use the funds to finance future projects that might arise from these voting decisions.

The Dash network power resides in the masternodes

Masternodes are full nodes in the Dash blockchain whose main objective is to ensure the proper functioning of the network. Basically, it’s as if they were supervisors within the blockchain since they must control the updated consensus, the development process, and the economic system on the network.

Masternodes must verify, validate and/or reject new blocks generated by miners, but also provide services that are essential to the blockchain, such as PrivateSend and InstantSend.

Due to their importance and the work they do, masternodes must be rewarded when miners spawn new blocks. In this model, the rewards are distributed as follows:

• 45% for miners
• 45% for masternodes
• 10% is reserved for the budget fund (treasury)

All this is possible thanks to the particular mining model on the Dash blockchain.

In this model, the mining nodes try to solve the mathematical problems imposed by the X11 algorithm – specific to Dash – while the masternodes take care of the rest of the functions in the network.

It’s thanks to this system that Dash can implement many of its features, the main benefit being a great improvement in the security and scalability of the blockchain in general.

Any user can be a masternode, but there is a condition for this: each masternode must have a stake of a minimum of 1,000 Dash as collateral in order to participate. This model helps to control the number of masternodes within the network.

How Dash will improve user experience

The objective of this cryptocurrency is clearly defined on the official Dash website:

“To be the most user-friendly and scalable payments-focused cryptocurrency in the world.”

Dash Core Group, one of the organizations behind the cryptocurrency, has been promoting Dash as a digital currency focused on the transfer of value, to be used on a day-to-day basis, quickly, easily, and safely, including all types of users and institutions.

For example, in 2018, the Dash team began promoting their cryptocurrency in the Latin American region, specifically in Argentina, Colombia, and Venezuela. The cryptocurrency has gained wide acceptance in these countries thanks to its ease of use, especially in Venezuela, due to the great popularity that cryptocurrencies have in this country.

Let’s take a closer look at the features of Dash that have made this cryptocurrency so attractive for many people.

InstantSend

InstantSend is a service that allows for super-fast transactions. For this, each transaction that uses this service is sent to be verified and validated by community consensus in the masternode network.

The transactions and blocks that present any conflict are rejected, and in case of not reaching an immediate consensus, the validation is then carried out through the standard system of validation.

PrivateSend

PrivateSend is an optional service that a user may select when it is necessary to keep one’s information private.

PrivateSend is a service that combines transactions in different currencies using the masternodes and the CoinJoin protocol. Each transaction that PrivateSend uses is the product of a combination of funds that come from a minimum of three different places.

In other words, the transactions of one user are combined or “crossed” with those of other users to make it much more difficult to trace transactions. This combination occurs within a masternode, without the need for information exchange that may reveal the identity of the involved users thus providing them security and anonymity.

Dash Platform

Dash Platform is a powerful set of cloud-based tools for developing decentralized applications (dApps) on the Dash blockchain.

Developers can use these tools and integrate them into their own applications quite quickly and easily through various SDKs (Software Development Kits) available on the platform and add different types of functions to their applications such as:

• A decentralized payments infrastructure
• Application data storage
• A user registration and identification system
• A robust cryptography system to secure user data and operations

The platform is designed in such a way that it makes the development and integration of applications in the Dash network much easier, while significantly reducing their development time.

DashPay Wallet

DashPay is a crypto wallet available for Android and iOS that has been developed using the tools available on the Dash Platform. DashPay is an application that brings interesting functions to the ecosystem. With DashPay wallet, normal users can:

• Create a unique user ID on the blockchain
• Create and customize a user profile
• Add a contact book to make payments
• Search contacts by username
• Make instant payments using only username

This new system allows the long cryptographic addresses that are typical of cryptocurrency wallets, to be exchanged for a simple username so that it is much easier to send money to other people using only the recipient’s username.

This form of identity within the blockchain is not limited to just the wallet address, as this system also allows you to add a profile photo, display name, and a short biography.

In addition, being based on contacts and not wallet addresses, once you have made a payment to other users, you can also add them as contacts for future payments, saving you from the long and tedious work of copying and pasting cryptographic addresses.

Once a username is registered, you’ll only have to pay a small fee to securely store your data on the network, including your profile photo, username, and contacts. Once the payment is confirmed, this user profile will be permanently recorded on the blockchain and you won’t be able to modify it.

FastPass

FastPass Network is an initiative that allows users to make deposits, transactions, and withdrawals almost instantly within a network of partner platforms.

The goal of FastPass is to provide a better trading experience for Dash users through a reputable partner network made up of a set of companies that offer different services related to the crypto ecosystem.

Some of the large organizations that are already part of this platform include:

• Coinbase
• CoinbasePro
• Liquid
• KuCoin
• Binance
• OKEx
• HitBTC
• WhiteBIT
• Indodax
• eToro
• Hummingbot
• Quadency
• Messari
• IntoTheBlock

Among many others.

This service operates through InstantSend or ChainLocks, which allow users of the associated platforms to perform operations with Dash with greater speed and security, and with much more competitive fees.

DashText

DashText is a special service that allows Dash users to create a wallet using just a phone and an SMS text message. This system was developed to make the use of Dash easier and more accessible in areas with very poor internet connection.

It is a solution designed especially for those who don’t have a smartphone to use Dash. This program started in Venezuela and has been spreading to other countries in the region. It is a free service with which it’s only necessary to send a text message to check your balance and the price in the market, but also for sending and receiving Dash.

Conclusion

Dash’s vision is pretty clear:

Provide a fast and efficient payment platform for as many users as possible around the world.

The Dash ecosystem already has partnered with almost 5,000 merchants and service providers around the world; they’re providing a quick and accessible payment system to hundreds of thousands of users in many countries. This vision is what has allowed it to gain wide acceptance among a large number of users, especially in certain regions of the world.

In general, the growth of Dash and its platform has been quite successful, even though the value of the cryptocurrency in the market does not reflect this great success.

Even so, it’s an asset with a very promising future, since the organizations behind the project continue to add improvements in their effort to obtain massive adoption of this cryptocurrency.

As always, even though Dash is a project worth keeping an eye on, you must also consider the risks involved when investing in any type of cryptocurrency. Never invest money you can’t afford to lose.

And in the end, Allah knows best.