Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency that offers all the same features as Bitcoin but also has advanced capabilities, including instant transactions (InstantSend), private transactions (PrivateSend), and decentralized governance (DGBB). Dash’s decentralized governance and budgeting system makes it the first decentralized autonomous organization.
Dash uses a two-tier architecture to power its network. The first tier consists of miners who secure the network and write transactions to the blockchain. The second tier consists of masternodes which enable the advanced features of Dash.
Dash was originally released as XCoin (XCO) on January 18, 2014. On February 28, the name was changed to “Darkcoin.” On March 25, 2015, Darkcoin was rebranded as “Dash.”bDash is a portmanteau of “Digital Cash.”
Within the first two days of launch, 1.9 million coins were mined, which is approximately a quarter of Dash’s current supply (as of March 2017). Creator and lead developer of Dash, Evan Duffield, attributed the so-called “instamine” to an error in the code “which incorrectly converted the difficulty, then tried using a corrupt value to calculate the subsidy, causing the instamine.” Once the problem was resolved, Evan offered to relaunch the coin without the instamine, but the community overwhelmingly disapproved. He then suggested an “airdrop” of coins in order to broaden the initial distribution. The community also disapproved of this proposal. As such, the initial distribution was left alone and development of the project continued.
At the time the currency was launched, the cryptocurrency space was riddled with scams. Dash was one of the few survivors from that era. The Dash Core Team, responsible for developing the currency, has now grown to 30 full-time employees, 20 part-time employees, and dozens of unpaid volunteers. All Core Team employees are paid from Dash’s budget system and therefore are not reliant on donations or sponsorships that can lead to conflicts of interest. To date, Dash has solved such vexing issues as slow confirmation times, block size increases, decentralized governance, and a self-funding development budget.
According to CoinMarketCap, in June 2017 the daily trade volume of Dash was approximately $100 million per day and the market capitalization of Dash exceeded $1.4 billion. Dash has become the most active altcoin community on BitcoinTalk reaching more than 6400 pages, 133k replies, 7.9M reads.
Taken from Wikipedia, read more here..
Official Dash website: dash.org
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