“After this rocky beginning Darkcoin was renamed Dash in March 2015, but their privacy features remained the same. Each transaction is anonymous and uses a technology called Darksend. This rebranding had the goal of making the currency more mainstream, a marketing move to gain user adoption. Dash reinforced its image as a secure coin that transacts instantly…”
Coin Name: Dash
Birth of project: 2014
Project Status: Privacy
Circulating Supply: 7,946,184 DASH
Official website: https://www.dash.org/
Official Wallet: https://www.dash.org/wallets/
Introduction to Dash (DASH)
Dash is a privacy coin that launched its blockchain on January 2014 with the name of Darkcoin, having Evan Duffield as main developer. Duffield forked the Bitcoin protocol with the goal of enhancing its privacy and speed of transactions.
Dash features a self-funding structure, meaning that each time Dash is mined, 10% goes to that structure that has as goal to improve the currency ecosystem. On this regard, we can mention the investment of over $1 million on a point-of-sale platform name Alt Thirty Six.
Another technical feature from Dash is the two-tiered structure. Comparing with Bitcoin, where all the work on the blockchain is made by the miners, with Dash super-users exist with the name of masternodes. These masternodes are the ones deciding where the funds go. Anyone can be a masternode, considering you have minimum 1000 Dash coins.
The beginning of Dash was not peaceful though, because the currency was instamined, meaning that 1.9 coins were created in the first 24 hours, instead of making a premine that would have allowed a more fair distribution, as it’s the goal of cryptocurrencies.
Today we are reaching the barrier of 8 million Dash coins of an expected max supply of 18.900. Those supporting Dash when it was created received a big benefit, as Duffield choose not to relaunch the blockchain (unlike what happened with Monero and Bytecoin), creating a sense of unfairness.
After this rocky beginning Darkcoin was renamed Dash in March 2015, but their privacy features remained the same. Each transaction is anonymous and uses a technology called Darksend. This rebranding had the goal of making the currency more mainstream, a marketing move to gain user adoption. Dash reinforced its image as a secure coin that transacts instantly.
From the consumer perspective, the way Dash works is similar to Bitcoin: Dash can be used in prepaid cards and spent where those debit cards are accepted. At the same time, Dash is mostly used as an investment, and not as a currency, so there is still a long way to be made in this aspect.
Dash presents itself as an more private and fast alternative to Bitcoin, but there’s a lot of competition for this same space, namely from Bitcoin Cash and Litecoin, apart from the other privacy coins, so the next months will tell how big Dash can become.
This is a brief introduction to Dash, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $687.70
Jan 19, 2018: $833.30
Dec 19, 2017: $1,165.03
Nov 19, 2017: $455.36