Dash DASH

About Dash

Dash is an open-source cryptocurrency focused on delivering safe, fast, and inexpensive payments globally. It was originally launched in January 2014 as "Xcoin," then renamed to "Darkcoin," and finally rebranded as "Dash" in March 2015.

Dash aims to be the most user-friendly and scalable payments-focused cryptocurrency in the world. The Dash network features instant transaction confirmation, double spend protection, anonymity equal to physical cash, a self-governing, self-funding model, and a decentralized governance system.

Key Features

• InstantSend: Allows for near-instant transactions. Dash transactions can be confirmed in seconds, rather than minutes or hours.
• PrivateSend: Gives users optional privacy when transacting. It works by mixing your transaction inputs with those of other users.
• Masternodes: Special servers backed by collateral held in Dash that provide advanced services to the network and receive a portion of the block rewards.
• Governance and Treasury: A decentralized governance system that allows stakeholders to vote on proposals for improving the Dash ecosystem, with 10% of block rewards allocated to fund approved proposals.

Technology

Dash uses a two-tier network structure. The first tier consists of miners who secure the network and write transactions to the blockchain. The second tier consists of masternodes, which enable the advanced features of Dash.

Dash uses the X11 algorithm, which is a modification of the Proof of Work (PoW) system. X11 is a chained hashing algorithm approach, utilizing a sequence of eleven scientific hashing algorithms for the proof-of-work. This helps to better secure the network and provides more equal mining distribution.