Dash (formerly known as XCoin... then, DarkCoin) was established in 2014 by Evan Duffield. This is an added layer of protecting privacy that Bitcoin developers weren't keen on. Therefore, Evan set forth and developed his own. It's main, unique elements are 1.) a trustless, mixing system known as PrivateSend (or DarkSend). 2.) an InstantSend feature that allows for near-instant transactions (without fear of double-spend or long transaction times) by locking these transactions for verification by masternodes (see below). InstaSend times averaged 1.3 seconds.
Further, Dash has a two-tier network (opposed to Bitcoin's single-tier). Allowing miners to focus on creating new blocks; while a second layer of masternodes handle: PrivateSend, InstantSend, and governance functions. Masternodes must have at least 1,000 Dash on-hand.
Lastly, Dash is the first Decentralized Governance by Blockchain (DGBB); often referenced as the 'Treasury System'. With monthly, allocated funds to the Treasury System, Dash users are able to propose new concepts and request funding (via Votes). Users can use forums, like DashCentral, to lobby and post drafts- prior to submitting said project, for a vote.
What I learned:
- Dash used to be called DarkCoin; and has always promoted superior privacy protection (compared to Bitcoin)
- PrivateSend and InstantSend are branded, proven products, from this project
- Dash has a unique community that votes for projects, per the Treasury System funding model
- Dash has a Bitcoin codebase but has 2.5x the robustness (due to the masternodes).
Price of DASH: 0.07319441 BTC (approx. $1,159.39 USD)
Disclaimer: This information is for educational purposes only. Invest at your own risk.
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Very informative post. Short but concise, I like this style.
Dash is one of the currencies I have been observing. Transactions are really fast, and fees are low. Good market performance also.
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Dash has a fantastic model on the surface, but unfortunately is a long running scam coin.
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Interesting video.. I have not heard this before.
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Congratulations @jaronmct! You received a personal award!
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