Blockchains 101: DASH
A private alternative to Bitcoin
DASH (Ticker: DASH) is the cryptocurrency of the DASH Network. As for ZEC, it is a modified and reinitialized fork of Bitcoin, upgraded with privacy features.
The first block (Genesis) of the DASH Network has been mined the 18th January 2014 (initially called Xcoin), without pre-mine. It has been developed by Evan Duffield as a private alternative to Bitcoin.
DASH was initially released as XCoin in 2014, changed name for DarkCoin in mid-2014 before being definitely dumbed DASH in 2015 (DarkCoin was making it too close of the Darkweb).
DASH has and is still built towards the following vision:
- Overclocking the technical limitations of Bitcoin as a digital cash system;
- Offering a reliable alternative banking solution to the unbanked. DASH is particularly active in South America since 2017.
- Building a strong online presence with merchants’ integrations and partnerships.
Among some of the most relevant features of DASH are:
- Optional privacy (as for ZCASH) to meet the properties of physical cash (PrivateSend);
- Instant payment confirmation (InstantSend);
- Double-spent and 51% attack protection (using ChainLocks);
- Self governed & self-funded model (DAO).
Mining: Proof of Work (PoW)
DASH relies on an hybrid consensus model, a combination of Proof of Work (PoW) and Proof of Service (PoSe) leading to a more scalable and stable cryptocurrency than Bitcoin (as a e-cash solution):
- PoSe is for Masternodes (1,000 DASH locked requirement) that contain a full copy of the DASH Blockchain and provide support to miners for block validation as well as private/instant transactions, increasing the scalability of the whole network. Masternodes are also involved in the network’s governance with each Masternode owning 1 vote.
- PoW is for “Miners”: DASH can be mined on both ASICS and CPU/GPU using the X11 hashing algorithm. Miners help to discover and validate new blocks.
45% of the block reward is paid out to the Masternodes, 45% to miners and 10% goes to the DASH budget (operating reserve used to fund the coin’s development and related projects).
Storage and wallets
Official DASH wallets: https://www.dash.org/downloads/
- Type: Native Coin
- Total Supply: 18,900,000 DASH
- Subunit: NA
- Consensus: Hybrid PoW & PoSe
- Algorithm: X11 hashing
- Privacy: Customizable (Low to High)
- Blocktime: 2.6 minutes
- Block size: 2MB
- Coding languages:
- Open source: Yes
- Whitepaper: https://github.com/dashpay/dash/wiki/Whitepaper
- Github code: https://github.com/dashpay/dash/
- Official website: https://www.dash.org/
- Explorer: https://explorer.dash.org/insight/
- Twitter account: https://twitter.com/Dashpay
- Reddit: https://www.reddit.com/r/dashpay/
- Wiki: https://fr.wikipedia.org/wiki/Dash_(crypto-monnaie)
Telegram community: https://t.me/TradingBull_DA