Dash (DASH) Digital Cash
|Related Wiki List||Type|
|Cryptocurrencies||List of All|
|Cryptocurrency Exchanges||List of All|
|Cryptocurrency Wallets||List of All|
|Dash (DASH) Trading Platforms||List of All|
Truth and facts
- Dash stands for Digital Cash.
- Created by Evan Duffield on 18 January, 2014.
- Release date is on 18 April, 2014.
- XCoin (XCO) was renamed into Darkcoin in February 2014.
- Darkcoin was rebranded as Dash (DASH) on 25 March 2015.
- Open source.
- Own blockchain.
- A fixed maximum supply of 18 million coins.
- Will reach 18 million coins on year 2300.
- Dash variable block reward decreases at the rate of 7.1 % each year.
- The average time for mining Dash blockchain is 2.5 minutes (four times faster than Bitcoin).
- Features private seed, instant seed and masternodes technology.
- More secretive and untraceably transaction.
- Can be mined using CPU or GPU.
- Originally known as XCoin (XCO) when it was released in 18 April 2014.
- Renamed from XCoin into Darkcoin in February 2017.
- Renamed from Darkcoin into Dash in March 2017.
|Blockchain protocol||Proof of work|
|Trackable||Hard to track|
|Transaction Fee||0.0002 Dash/kB- avg|
|Blocks Time||2.5 Minutes|
Dash development team
|Name||Position||Keybase Identity||Contact||Username on Dashforum|
|Holger Schinzel||Quality Assurance, Automation, Testingemail@example.com||flare|
|Moo Cow Moo||Development / Testingfirstname.lastname@example.org||moocowmoo|
|Daniel Diaz||Business Development||Daniel@dash.org||minotaur|
- For a more complete list, visit Dash Development Team.
Frequently asked questions
- What is Dash stands for?
- Dash stands for Digital Cash.
- What is the difference between Dash and Bitcoin?
- In year 2010, Dash creator Evan Duffield met Bitcoin. Although he was impressed by Bitcoin concept and technology, he discovered that Bitcoin is not anonymous and fast enough, it is not perfect. Which is why Dash was created for better privacy and faster speed.
- The transaction fee for Dash is negligible compared to Bitcoin.
- Where can I buy Dash?
- What is the wallets available for Dash?
- For Dash mobile wallets, you can download Dash Wallet or Coinomi or Jaxx app on Google Play. For iOS wallets, you can download Jaxx app on App Store.
- For Dash desktop wallets, you can download the official Dash Core wallet on Win/Linux 32/64. Alternatively, you can also download Jaxx for Win/Linux or Exodus on Win 64 /Linux/Mac.
- For Dash hardware wallets, you can buy Ledger Nano S, Trezor or KeepKey. Hardware wallets are always more recommended.
- You can also make your Dash paper wallet. Paper wallet is the cheapest cold storage containing both your Dash private and public keys.
- You can refer here for the complete list: List of all Cryptocurrency Wallets.
1. The difference between Dash and Bitcoin
*It's more than just privacy! Bitcoin isn't perfect. Dash takes all of the technology that Bitcoin utilizes and expands on it. From privacy to transaction speed, governance, funding, and overall incentive structure: Dash innovates!
*Dash is a fork of Bitcoin - Even with all its improvements, Dash still utilizes the same DNA of the Bitcoin protocol, so it can readily be integrated into the ecosystem already built around Bitcoin!
2. A 3-Way Split Block Reward: A Better Incentive
*Dash Block Reward: Miners 45%, Masternodes 45%, Development Grants 10%.
*Node Costs are No Problem: Node costs are subsidized by the block reward. It's profitable to run a full node! Node counts have increased over time.
*Bitcoin Block Reward: Miners 100%, Full Nodes 0%, Development 0%.
*Node Costs are Expensive: Node operators must cover the cost of running a full node completely out of pocket. As the network grows, node operation becomes cost prohibitive and thus node count has decreased over time.
4. Masternode "Shares"
Have less than 1000 Dash? Users can allocate them towards a Masternode "Share"
Traditional Banks allocate your savings to loans which payback about 0.08% interest per year to you.
Masternode Shares allocate your savingstowards creating network Masternodes which payback about 8% interest per year to you.
Dash, unlike Bitcoin, can offer its holders the form of an "interest bearing account" by supporting its infrastructure.
5. Masternodes perform functions not possible with single tier networks like Bitcoin
Dash: Mix coins at the protocol level with PrivateSend. Lock inputs & prevent double spends, allowing instant transactions with InstantSend.
Bitcoin: Coin fungibility requires mixing through trusted 3rd parties. Settlement on the Bitcoin blockchain can take anywhere from an hour or more.
6. How Private is PrivateSend?
*Nobody has ever cracked PrivateSend.
*PrivateSend utilizes a selected "quorum"of random Masternodes on the network.
*An attacker would need a hyper majority share of Masternodes to have even the slightest chance at owning the selected random quorum of Masternodes at any given time.
*With a 1000 Dash requirement per Masternode, it becomes cost suicide to attack the privacy of the network.
7. How Fast is InstantSend?
*InstantSend is ...Instant!
*Masternodes "lock" the inputs of coins which prevents double spends and allow transactions to occur in about 1 second or less!
*InstantSend allows Dash users the ability to buy a cup of coffee in-store or a soda from a vending machine instantly, no waiting for confirmations!
8. Protocol Level Funding & Governance: The Underrated Defining Feature
*1 Masternode = 1000 Dash = 1 vote for: Network Development Grants / Network Direction.
*1000 Dash "collateral" incentivizes Masternodes to grant money to projects that serve only to benefit the network and its value.
*Anybody can submit a project and apply for a grant.
*As shown in the image above, Masternode Network can grant money to projects they think is doing good to the network. In this case, money is granted to Development Project X and Infrastructure Project Z but not Marketing Project Y submitted. All these 3 projects can be submitted by anyone.
9. A Perpetual Network Effect
*Project Development Funding -> Network Develops and Becomes More Valuable -> Price of Dash Appreciates -> More Development Money Available per Month.
*Monthly Development Budget has increased from $32,000 in 2015 to $120,000 in 2016.
*Dash is a currency AND a working Decentralized Autonomous Organization (DAO).
*Dash Development is paid directly from the blockchain and is not dependent on donations, foundations, or any one 3rd party (ie: Block Stream).
*The Dash network can stop payment to its current dev team and start paying another at any time if the network feels unsatisfied.
*In the example above, DEV Team A says "We should implement changes A/B/C to the protocol". DEV TEAM B says "Changes A/B/C aren't good enough. X/Y/Z is more effective". Masternode network determine to listen to the new DEV TEAM B by saying "Team A, we like what you've done up to now but you're no longer in line with what we want. We voted and we'rehiring Team B".
*Dash masternodes voted and reached consensus to eventually raise the blocksize to 2mb in just 24 hours.
10. Dash Evolution: Bringing Crypto Mainsteam
*Dash Evolution brings the focus back to the user experience.
*Aimed at the everyday user, it makes things "So easy your grandmother could use it".
*This is all made possible by the First Ever Decentralized API.
*This API acts as the communication line between familiar front-end user interfaces and the bleeding edge Dash blockchain network.
*Merchant or users no longer have to directly implement or run the Dash network, just the code that talks to it.
- User clicks "Pay with Dash" Button on Website.
- Website -> DAPI -> Dash network (request payment).
- Dash network -> DAPI -> User Mobile Wallet (authorization request)
- User authorizes transaction -> DAPI -> Dash Network (payment complete).
*Crypto addresses are replaced with username and a more Paypal or Venmo-esq experience is now possible.
*Any network changes can now be made "under the hood" isolated from the user.
- Dash is one of the best cryptocurrencies. Providing detail explanation and review for Dash on CoinSutra. https://coinsutra.com/dash-cryptocurrency/