About

Dash is a digital currency platform offering instant transactions and micro-fees. Its primary service is to facilitate digital payments, allowing users to buy, receive, or spend Dash online, with friends, or through ATMs. Dash also provides a mobile wallet app that supports everyday transactions for individuals and businesses.

History

Dash originally was architected by founder Evan Duffield and a small group of other individuals who collaborated to create an alternative to Bitcoin that would enhance user experience by providing transaction speed that could facilitate everyday use as well as greater control over transaction privacy. They believed competing virtual currencies were not as viable for use in ordinary purchases, such as buying a cup of coffee, because transactions can take too long to confirm. In pursuit of this goal Dash created a two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks), and optional privacy (PrivateSend).

The Dash Network is governed by masternodes, powerful servers backed by collateral held in Dash designed to provide advanced services securely and governance over Dash's proposal system. In exchange for part of the block reward, masternodes provide a second layer of services to the network. They facilitate advanced functions such as InstantSend, PrivateSend, and ChainLocks, which protects Dash against 51% mining attacks.

Dash governance system, or treasury, distributes 10% of the block rewards for development of the project in a competitive and decentralized way. This has allowed the creation of many funded organizations, including Dash Core Group, Inc. (DCG), which supports continued development, integrations and other activities of Dash.