Posted: 13.07.2021 | 12:21
What is Dash (DASH)?
Maximum Supply: 18,900,000 DASH
Circulating Supply: 10,106,386 DASH
Total Supply: 10,106,516 DASH
Explorer: Dash Explorer
Whitepaper: Dash Whitepaper
What is Dash (DASH)?
Dash is known as an open-source blockchain and cryptocurrency focused on providing a fast and inexpensive global payment network that is decentralized in nature. According to the project's white paper, Dash aims to improve Bitcoin (BTC) by providing stronger privacy and faster transactions. Dash, whose name comes from "digital cash", is known to have been released as a Litecoin (LTC) fork in January 2014. A two-tier network with an incentive node such as a line, "including masternodes," grown for its similar features and existing without a project management center; InstantSend, which allows for instant payments; Optional additional privacy for transactions ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend.
Who are the founders of Dash?
Dash was founded by software developers Evan Duffield and Kyle Hagan. The project was originally called xcoin and changed its name to Darkcoin two weeks later. It was later rebranded to Dash in March 2015 to positively change its image. Prior to launching Dash, Duffield is known as a software developer with experience in finance, working at Hawk Financial Group and PR, developing machine learning algorithms and search engines. He first designed Dash in 2012 as a way to add more anonymity to Bitcoin, which is why he originally called it Darkcoin. Duffield stated that he started as a hobby by coding for just one weekend. Duffield served as CEO of Dash Core Group, the company that supports Dash's continuous development, integrations and other activities until December 2017, when he resigned to focus on other strategic initiatives. Hagan co-wrote the original darkcoin whitepaper with duffield. However, it is known that he left the project in December 2014.
What Makes Dash Unique?
According to its website, Dash's goal is to "become the world's most user-friendly and scalable payments-focused cryptocurrency." To achieve this, the project relies on a network of masternodes, which are servers backed by collateral held in the dash designed to securely provide advanced services and management on the dash's bidding system. In exchange for some of the block rewards, masternodes provide a second layer of service to the network. They facilitate functions such as InstantSend, PrivateSend, and ChainLocks. Dash is marketed to both individual users and institutions, including investors, financial services, and those who need to send international money transfers. In October 2020, Dash Core Group announced that its strategic goals are to build its ecosystem and brand, keep users satisfied, and further advance the technology behind the network. Dash's management system or treasury distributes 10% of the block rewards for the development of the project in a competitive and decentralized manner. This has allowed the creation of many funded entities, including the Dash Core Group. In addition, the Dash Foundation, which advocates for the adoption of cryptocurrency, receives donations and also offers paid, individual and corporate memberships.