Dash explained
What Is Dash?
Dash is an open-source altcoin branched (“forked”) from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users called “masternodes.”
Originally, the altcoin was Introduced ‘in January 2014 as “Xcoin” by Evan Duffield. The currency has since rebranded as Dash (‘digital cash’) in March of 2015
As of April 2018, Dash Coin’s market capitalization was around $4.3 billion, making it was one of the top 12 cryptocurrencies.
Initially, Dash was designed to allow transactions quickly and have a swift governance structure to overcome shortfalls in Bitcoin.
Governance through a decentralized autonomous organization occurs on a blockchain via masternodes. Masternodes perform standard node functions like hosting a copy of the blockchain, relaying messages, validating transactions on the network, and acting as shareholders, voting on proposals for improving the cryptocurrency’s ecosystem.
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. The average time to mine a coin was around two and a half minutes.
Where Can I Buy Dash?
If you’re looking to diversify your portfolio by adding some Dash look no further. You can easily purchase and sell trusted cryptocurrencies instantly at all of our nationwide Bitcoin kiosk locations. All you need to bring; is cash, valid identification, and your smartphone. We will supply the crypto and good vibes.
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