Dash Explorer
Explore the Dash blockchain
About Dash
Overview
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.
History
Dash was created by Evan Duffield, who launched it on January 18, 2014, as "Xcoin." It was later renamed to "Darkcoin" to emphasize its privacy features, and finally rebranded as "Dash" (Digital Cash) in March 2015 to broaden its appeal. The launch was somewhat controversial due to an "instamine" issue, where approximately 1.9 million coins (about 10% of the total supply) were mined in the first 48 hours due to a bug in the code that adjusted mining difficulty.
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.
Governance
Dash has a self-governing, self-funding model. A portion of the block reward (10%) is allocated to a treasury system, which funds projects that benefit the Dash ecosystem. Masternode owners can vote on proposals, creating a decentralized governance system. This allows Dash to fund its own development and growth without relying on donations or external funding.
Key Features
InstantSend
Allows for near-instant transactions. Dash transactions can be confirmed in seconds, rather than minutes or hours. This is achieved through a network of masternodes that lock transaction inputs and validate transactions.
PrivateSend
Gives users optional privacy when transacting. It works by mixing your transaction inputs with those of other users, making it difficult to trace the origin of funds. This feature is based on CoinJoin but with improvements for enhanced privacy.
Masternodes
Special servers backed by collateral held in Dash that provide advanced services to the network. Masternode operators must hold 1,000 DASH as collateral, which helps align their interests with the network's success. They receive a portion of the block rewards for their services.
Decentralized Governance
A system that allows stakeholders to vote on proposals for improving the Dash ecosystem. 10% of block rewards are allocated to fund approved proposals. This allows Dash to fund its own development and growth without relying on donations or external funding.
Key Contributors
Evan Duffield
Founder
Created Dash in 2014 (originally called Xcoin, then Darkcoin). Evan has a background in software development and financial technology.
Ryan Taylor
CEO of Dash Core Group
Former financial analyst and payments industry professional who joined Dash in 2016. Ryan leads the Dash Core Group, the largest organization funded by the Dash network.
Fernando Gutierrez
CMO of Dash Core Group
Lawyer and business developer who has been involved with Dash since 2014. Fernando oversees marketing and business development for Dash.
Bob Carroll
CTO of Dash Core Group
Technology executive with over 20 years of experience. Bob leads the technical development of the Dash network.
Major Milestones
January 18, 2014
Launch as Xcoin
Evan Duffield launched Xcoin, which would later become Dash.
January 28, 2014
Renamed to Darkcoin
Xcoin was renamed to Darkcoin to emphasize its privacy features.
March 25, 2015
Rebranded as Dash
Darkcoin was rebranded as Dash (Digital Cash) to broaden its appeal beyond privacy-focused users.
May 25, 2015
DashDrive Release
Introduction of DashDrive, a decentralized storage system for the Dash network.
August 2015
InstantSend Launch
Dash introduced InstantSend, allowing for near-instant transaction confirmations.
November 2016
Dash Core v0.12.1 Release
Major update that included improvements to PrivateSend and InstantSend.
February 5, 2017
Dash Core v0.12.1 Activation
The network upgrade was activated, bringing significant improvements to the Dash network.
November 8, 2017
Dash Core v0.12.2 Release
Another major update that included further improvements to the network.
July 27, 2018
Dash Evolution Alpha Release
The first alpha release of Dash Evolution, a significant upgrade to the Dash network.
January 1, 2019
Dash Core v0.13 Activation
Network upgrade that introduced Deterministic Masternode Lists and automatic InstantSend.
May 22, 2019
Dash Core v0.14 Release
Introduction of Long-Living Masternode Quorums (LLMQs) and ChainLocks to prevent 51% attacks.
January 2020
Dash Platform Testnet
Launch of the Dash Platform testnet, a technology stack for building decentralized applications on the Dash network.