What Is Dash (DASH)?
Dash (DASH) is a digital cash platform that takes cryptocurrency and blockchain into new , disruptive directions. This Arizona-based team partnered with local Arizona State University for academic research and is helping local businesses across the United States West Coast and beyond. Dash Pay, PrivateSend, and other features help it compete with marquee projects like Ethereum and Bitcoin.
Dash is the first project to introduce Masternodes, which require 1000 DASH to be locked. Masternodes help secure the network using Chainlock, which prevents a 51% attack.
Who Is Dash?
Dash was initially launched in 2014 as Xcoin. It was then renamed Darkcoin before finally being christened “Dash” by Founder and Foundation CEO Evan Duffield. It has since been taken over by CEO Ryan Taylor, CTO Bob Carroll, CFO Glenn Austin, COO Robert Wiecko, and CMO Fernando Gutierrez. Dash is governed by a Decentralized Autonomous Organization (DAO).
Use Cases of Dash
DASH is meant to be used as digital cash, so the Foundation partners with a variety of companies to make a robust payment ecosystem. It’s accepted at thousands of retailers, like Overstock, eGifter, Travala, Re/MAX Venezuela, Church’s Chicken Venezuela, and more. It’s partnered with Alt 36 and Vega Wallet for exposure in cannabis retail, ASU provides blockchain research, and it’s even listed on Crypto.com. Things are looking rosy for Dash as it races to the front of the cryptocurrency pack.
How to Mine DASH
DASH is mined using a X-11 Proof-of-Work (PoW) hashing algorithm, although miners only earn 45% of the block reward. The rest goes to Masternodes and the DAO’s chosen network supporters. This creates a tiered system similar to NEM’s Proof-of-Importance harvesting method or Delegated Proof-of-Stake coins like Tezos (XTC).
There’s a maximum supply of 18,900,000 DASH, and it reached an all-time high value of $1642.22 on December 20, 2017, according to CoinMarketCap.
Learn More About Dash
If you want to learn more about Dash, check out this comprehensive intro guide at Block Geeks, a reputable blockchain/cryptocurrency publication. Or check out this intro guide to Kucoin Shares on Thought for Your Penny.