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Concept
Dash (cryptocurrency)
Summary
Dash is an open source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users, which are called "masternodes".
The currency was launched in January 2014 as "Xcoin" by Evan Duffield, as a fork of the Bitcoin protocol. It is an altcoin and in its early days it was subject to pump and dump speculation. It was rebranded as Darkcoin, which received press for being used in dark net markets. In March 2015, it rebranded again with the name Dash as a portmanteau of 'digital cash'. As of August 2016, Dash is no longer used in any major dark net markets worth noting.
In early 2017 Duffield, who lived in the Phoenix area, and some other people working on Dash took space in a business incubator at Arizona State University. The Dash DAO later funded a blockchain research lab at ASU.
Dash's market capitalization was around $4.3 billion and it was one of the top 12 cryptocurrencies.
Dash was the most popular cryptocurrency in Venezuela according to Der Spiegel.
In October 2022 Dash had a valued market capitalisation of 450 million USD.
Dash, like Bitcoin, has a block reward. The block reward in the case of Bitcoin has halved, but in the case of Dash, the block reward only decreases by 7.14% every 210240 blocks. The block time of Dash is 2.5 minutes, which means that on average, a decrease occurs every 365 days.
The current block reward is 2.68 Dash + transaction fees. The block reward after the reduction will be 2.49 Dash + transaction fees.
Dash was designed to allow transactions quickly and to have a swift governance structure in order to overcome shortfalls in Bitcoin. What makes Dash different from Bitcoin is that it splits its rewards into three categories: 45% goes to miners, 45% goes to masternodes (these are computers that additional services in the network and have a significant investment in Dash tokens), and 10% goes towards its decentralized governance budget.
Official source
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