Dash is an open-source, decentralized cryptocurrency focused on everyday transactions. Launched in 2014, Dash was originally known as Xcoin, and later Darkcoin. At the very beginning, it was designed to ensure privacy and anonymity. In the white paper, written by Daniel Diaz and Evan Duffield, Dash is explained as “the first privacy-centric cryptographic currency.” But since then, Dash revised its philosophy, and now it aims at becoming the best crypto for daily transactions. “Dash moves money anywhere, to anyone, instantly, for less than a cent,” says the cryptocurrency’s website.
Dash originated as a fork of Bitcoin, but as an alternative to it, Dash provides a faster (using InstantSend) and more anonymous service(with mixing transactions of multiple parties through PrivateSend). It takes seconds to confirm a transaction with the help of over 4,500 servers hosted around the globe.
Dash was also among the very first cryptocurrencies who pioneered a self-funding model. In this blockchain, rewards are shared between Miners (45%), Masternodes (45%), and Treasury (10%). The funds from the Treasury are used for the future development of the project, while Masternodes vote to determine the direction the platform will go.
Dash coin mining
Dash was the first cryptocurrency to implement the X11 algorithm, which is a proof-of-work hashing function developed by Evan Duffield. Initially, X11 was designed to make the creation of X11-based ASICs more difficult and hence prevent the centralization of mining. Dash also uses Dark Gravity Wave algorithm that adjusts mining difficulty, every block instead of every 2016 blocks, like in the case with Bitcoin. Like Bitcoin, Dash uses nodes to maintain network and secure transactions. But Dash operates on a two-tier network of miners and Masternodes. The latter perform specialized functions, like InstantSend and PrivateSend. They are critical for maintaining the infrastructure of the system. To run a Masternode, you should own at least 1000 DASH coins, run a Linux server, and have a Dash wallet. Falling below 1K Dash coins will automatically remove your Masternode from the network.
Dash coin wallet
If you want to buy, sell or exchange Dash, you need a wallet designed specifically to hold Dash coins. Several of them you can find below:
- Exodus Wallet
Price of Dash coin
As of writing, Dash is 21st cryptocurrency by market capitalization ($1.02B), with a current price of $109.19 and a max supply of 18,9 M and 9.3M in circulation.