Longcaller

Dash

Dash is Bitcoin fork that focuses on fast and private payments.

Block rewards split between miners (45%), masternodes (45%), and proposal treasury (10%).

Masternodes enable services like PrivateSend, InstantSend, and budget system. To set a masternode, a person should stake 1000 DASH and run a node. That way, to get a majority of masternodes, one should first get a majority of Dash coins, which seems impractical.

People can send Dash privately. This is achieved by optional built-in mixing technology PrivateSend. It works as follows: people who send transactions grouped together. Masternodes then merges their transactions to mix all inputs and sends the money back to the owners.

Dash also supports almost instant payments via InstantSend. The sender can lock part of his coins to be sent to the specific address. The "lock" intent will be propagated to the network. If masternodes will agree that this lock is valid, it will be propagated to the whole network, and the receiver can be sure that he will get this coins. If the sender will try to "lock" these coins again or to send them to other address, this intent will be rejected by masternodes.

Dash has a government on the protocol level. Anyone can make a proposal of developing Dash infrastructure or promoting the coin. Then, masternode owners evaluate and vote on the most promising proposals. Each month, the proposals with the most votes get the funding from the treasury.

Timeline

  • January 18, 2014: Launched on Bitcointalk as XCoin bitcointalk.org
  • January 18, 2014: Launch of the network bitcointalk.org
  • February 28, 2014: XCoin was renamed to Daskcoin bitcointalk.org
  • March 25, 2015: Darkcoin was renamed to Dash dash.org
  • August 14, 2015: Release of version 12. Among other improvements, implemented budget system dash.org
  • September 9, 2015: First proposal: salary for Dash core team dashcentral.org
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