DigitalCash (DASH) Price

DASH is a cryptocurrency linked to the DigitalCash blockchain that was created from a Bitcoin hard fork. DASH was created to address privacy and speed issues faced by Bitcoin users.

DASH was originally called Xcoin and then DarkCoin, before being renamed to DASH, a blend of DigitalCash.

Similar to Bitcoin, DASH is considered to be a true cryptocurrency, with the DigitalCash network facilitating instant private payments online or in-store using a secure open-source platform.

There are no physical DASH coins, just balances on DASH’s blockchain that is a decentralized public ledger.

DASH was released in January 2014 as the brainchild of Evan Duffield, who considered the transaction processing time of Bitcoin and the blockchain privacy as inadequate.

In contrast to Bitcoin’s approximate 10 minute transaction processing time, the average transaction processing time for DASH is 2.5 minutes.

There are a finite number of DASH coins, the total being 18 million.  The creation of each individual DASH coin comes from mining, which stems from a reward mechanism for miners verifying transactions on the DigitalCash blockchain.

The DASH blockchain is an open source, a peer-to-peer decentralized ledger that incorporates a proof-of-work protocol for mining and an additional layer that incorporates a proof-of-service protocol.

Unlike Bitcoin, the Digital Cash network is a 2-tier network that comprises of miners and masternodes.

A masternode is a server with a full copy of the DASH blockchain that guarantees a certain minimum level of performance and functionality to perform certain tasks related to block validation, as well as PrivateSend and InstantSend.

The masternodes are paid for this service, using a concept called Proof-of-Service, which is in addition to the Proof-of-Work algorithm for miners to secure the blockchain.

Masternodes are ultimately responsible for enabling financial privacy through PrivateSend and instant transactions through InstantSend, and the decentralized governance and budget system.

PrivateSend: Delivers the anonymity feature of DigitalCash by adding multiple identical inputs from a lot of users and then sending them to multiple outputs.

InstantSend: Delivers the instant transaction feature of DigitalCash.

Some distinct differences and characteristics of DASH include:

• There are only 18 million DASH coins.
• A 2-tier network incorporating proof-of-work and proof-of-service protocols to deliver instant and private transactions.
• 2.5 minute Transaction Processing Times are 4x faster than Bitcoin.