Dash Masternode Details

Dash (DASH)

Dash (DASH)

DASH is an instant and semi-private cryptocurrency based off the Bitcoin and Litecoin code base. However, it includes various changes and improvements that have differentiated it since its debut in 2014. The project’s creator, Evan Duffield, built Dash to address three key issues he saw in the existing Bitcoin network:privacy governance and transaction speed. Over the past four years Dash has risen to become one of the top global cryptocurrencies with its market cap consistently placing in the top twenty cryptocurrencies despite a highly competitive market.

Dash (DASH) is formerly known as Darkcoin until March 26th, 2015. Similar to cash, Dash allows you to remain anonymous while transacting. Dash protects privacy by anonymizing transactions that are made over the network using a technology developed by the Dash team called DarkSend. DarkSend is inspired by the CoinJoin project that was birthed to anonymize Bitcoin transactions. Using Dash, payments are private and cannot be tracked along with balances. 

Dash harnesses the power of its Masternode network to power an innovative technology called InstantX. When sending funds, users can use InstantX and transactions will be fully sent and irreversible within four seconds. Dash was released on the 18th January 2014 with zero premine coins. It uses 11 rounds of hashing algorithm namely blake bmw groestl jh keccak skein luffa cubehash shavite simd and echo. As of the current design, there will only be 22 million Dash ever created, making it a deflationary currency.