Dash explained

What is Dash?

Dash is an open source cryptocurrency. It is an altcoin that was branched (“forked”) from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users, which are called “masternodes”.

The currency was launched in January 2014 as “Xcoin” by Evan Duffield. In March 2015, it rebranded with the name Dash ( ‘digital cash’). 

As of April 2018, Dash’s market capitalization was around $4.3 billion and it was one of the top 12 cryptocurrencies.

Dash was designed to allow transactions quickly and to have a swift governance structure in order to overcome shortfalls in Bitcoin.

Governance is handled through a form of decentralized autonomous organization in which decisions are made on a blockchain via masternodes. Masternodes perform standard node functions like hosting a copy of the blockchain, relaying messages, and validating transactions on the network, and in addition act as shareholders, voting on proposals for improving Dash’s ecosystem.

A proof of service protocol ensures that masternodes have the most current blockchain protocol and are online.

As of 2018 coins were mined using a proof of work algorithm with a hash function called “X11”, with eleven rounds of hashing, and the average time to mine a coin was around two and a half minutes.

Where can I buy Dash?

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