Dash (DASH)

Dash is formerly known as Darkcoin and XCoin and was rebranded to Dash on 25 March 2015. Dash is an acronym of ‘digital cash’.

Dash

Official Website: https://www.dash.org/

Key Facts

  • Dash was created by Evan Duffield.
  • Dash offers the same features as bitcoin, but with advanced capabilities including instant transactions (Instant Send), private transactions (Private Send) and decentralised governance.
  • Dash is regarded by some as the first decentralised autonomous organisation because of its decentralised governance and budgeting system.
  • Dash’s network is two tier: first tier consists of miners maintaining the blockchain; the second tier consists of masternodes which enable Dash’s advanced capabilities.
  • Private Send is a coin mixing service based on CoinJoin (an anonymity method for bitcoin), with numerous modifications. This is to add privacy to transactions.
  • Instant Send is a service which allows for near instant transactions. Verified by consensus of the masternode network, it avoids the double spend problem without the confirmation times of other cryptocurrencies like bitcoin.
  • Dash is funded by a treasury system (or DGBB – Decentralised Governance By Blockchain). Ten percent of block rewards go this treasury to fund Dash projects.
It is estimated a total of 19 million Dash coins will exist in total, with a 7.1% decrease in the number of coins generated each year.

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