Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.
Who Created Dash (DASH)?
Dash was created by the Dash team, and they receive monthly funding from the blockchain to keep working on the project. Evan Duffield crafted the project back in January 2014. It was originally released as XCoin (XCO) before switching to Darkcoin in February 2014, and then in March 2015 it was rebranded as Dash.
Duffield developed the project after realizing that Bitcoin was not anonymous nor was it fast enough. He used a lot of Bitcoin’s code to build Dash, and it has similarities because of this.
Why Was It Created?
Dash is a fully incentivized P2P network. It is kept secure by miners who are rewarded for doing so. Also, large DASH holders become master nodes, who can then manage privacy, governance, transactions, and more. These incentives have grown DASH into one of the biggest peer-to-peer networks in the world.
The point of Dash is to be as liquid as real cash. It is a fork of Bitcoin, but with extra features like more privacy and much quicker transaction times. Privacy and anonymity are the main goals here on top of making transactions simple with almost zero transaction fees.
Intended Use Cases
To be used as an alternative to bank transfers and the fees for doing so. Dash is quicker than banks, can trade internationally, and prevents chargebacks. Trusted third-parties are not needed. DASH is considered a “privacy coin”. The website states that their “PrivateSend” feature ensures activity and balances are private. Also, “Transactions are confirmed by 200 TerraHash of X11 ASIC computing power and over 4,500 servers hosted around the world.”
Currently, a company called Crypto Vault is planning to incorporate Dash’s fiat to DASH currency exchange. This would simplify the trading process in Crypto Vault’s wallet.
Why would an investor buy Dash?
Dash is incredibly similar to Bitcoin. Both coins are decentralized forms of currency, though DASH has higher security and is much quicker with negligible transaction fees. It is intended to be an alternative to banks and payment providers without the need for trusted third parties.
Dash runs on a Proof-of-Work consensus algorithm just like Bitcoin. The difference here is that Masternodes store the data, and maintain security over the network as well. Masternodes run on a Proof-of-Service consensus. They must validate the network a total of 6 times per day, and then ping into the network to keep active.
Dash supports an “InstantSend” feature that can send transactions in less than 1.5 seconds.
The website states the transactions take less than a second.
Current: 7,993,028 DASH
Maximum: 18,900,000 DASH
Reward per Block
45% of the block goes to the miner, 45% goes to a Master node, and the final 10% goes to the development team. This will vary and decrease by 7.1% each year.
How many confirmations from nodes are required?
The master node checks 2 quorums per block.
0.0002 Dash on average per transaction.
Current Cost per Dash
(April 5, 2018)
Dash Market Cap
(April 5, 2018)