Dash

Dash is an open-source cryptocurrency focused on providing a fast and privacy payment network.

What is Dash?

  • Dash is a cryptocurrency created to serve as a Digital Cash that offers instant transactions with minimal fees.
  • Dash creates various innovations to improve scalability, speed, reliability, cost-effectiveness, and user experience.
  • Dash operates Nodes with Proof-of-Work consensus protocol and relies on a network of Masternodes.
  • Dash coin was the first cryptocurrency built-in privacy functions such as InstantSend, PrivateSend and ChainLocks. Especially CoinJoin (PrivateSend), it is similar to a decentralized mixing service which is designed to keep coins fully fungible.

Key Metrics

TickerDASH
Token NameDash
Token Type/ProtocolDash network
Total Token Supply10,425,947
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation DateJanuary 2014
Can it be mined?Yes

Who is behind Dash?

Dash was founded by Evan Duffield and Kyle Hagan. This project was initiated with Xcoin, changed its name to Darkcoin then rebranded to Dash in March 2015. Duffield was a software developer with several experiences in finance. He first proposed Dash as a way to add more anonymity to Bitcoin in 2012, as a consequence calling it Darkcoin. Duffield served as CEO of Dash company that continues development, integrations and other activities of Dash. In 2017, he stepped down to focus on other strategic initiatives. Hagan co-authored the original Darkcoin whitepaper alongside Duffield but he left the project in 2014.

What is the purpose of Dash?

Dash goal is to be the most user-friendly and scalable payments-focused cryptocurrency in the world. Dash is used for a variety of uses including point-of-sale transactions, ATM transactions, microtransactions, remittances, and arbitrage trading. Node operation, users receive a portion of block rewards as a new Dash token through a proof-of-work mining.

Insights

  • Dash is based on Bitcoin, but it uses a two-tier network structure for efficient improvement, the first tier is a proof-of-work system and the second tier is Dash masternodes.
  • Dash is highly scalable and can handle millions of transactions per day as a result this provides low transaction costs, typically a fraction of a cent.
  • Dash technology includes masternodes, InstantSend, and ChainLocks which enable speed, reliability and security transactions. A vote system uses BLS signatures to prove the network agrees on a block of transactions, then signatures lock individual transactions (InstantSend) or entire blocks of transactions (ChainLocks) within seconds. Masternodes coordinate optional CoinJoin transactions which are complex transactions to make outside parties monitor spending or track balance difficult.
  • Dash Governance is created to solve 2 issues; governance and funding. Decisions in Dash are made by masternodes, each masternodes are able to cast a vote on each proposal which is regarding network’s funding, feature implementation, and network upgrades.
  • In addition, Dash Governance provides its own fund for network developments while other cryptocurrency projects receive donations or premined endowments. Every time a block is mined, 45% of the reward goes to miners, 45% goes to masternodes, and the remaining (10%) goes to Dash funding.
  • Dash is currently testing a new feature called Dash platform which enables users and applications to store data in the network and also will provide fintech applications like PayPal or Cash App.

Risks

  • Dash faces many innovative competitors as it primarily aims to serve as a traditional digital currency while other projects integrate smart contracts for providing decentralized exchanges, lending, or yield farming. Dash should keep up with industry trends by deploying new products.
  • Dash network may not be real decentralization since the Dash Core Group, Dash Investment Foundation, and Dash Next decide on proposals.

News and Updates

  • Dash Core Group announced the release of Dash Platform v0.21 on testnet. 
  • Dash launched a retail consumer app for shopping in stores across America.
  • Venezuelan international airport planned to accept Bitcoin, Dash and Venezuela’s oil-pegged digital currency.

Disclaimer
All investments are speculative and involve substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

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