Dash (CRYPTO:DASH) is a digital currency that offers fast, cheap payments anywhere in the world. It aims to provide a user-friendly experience and privacy equal to cash.
Software developer Evan Duffield launched Dash on Jan. 18, 2014, under its original name of XCoin, which was later changed to Darkcoin. On March 25, 2015, it went through another rebranding to Dash, which comes from its goal of being “digital cash.”
Many cryptocurrencies are rarely, if ever, used for transactions, but Dash has built a scalable digital payments system. In this guide, you’ll learn what makes it unique, how it works, and whether you should buy Dash.
What makes Dash unique
The most unique aspect of Dash is its masternodes system. A masternode is a special server with a full copy of the Dash blockchain. Users who have at least 1,000 Dash can operate masternodes that power several of Dash’s features.
These features include InstantSend, which allows for fully confirmed transactions within two seconds, and CoinJoin, a method of running a sequence of transactions and making them harder to trace. In exchange for running masternodes, users receive a portion of the block rewards from Dash mining.
While most merchants don’t accept any types of cryptocurrency, Dash has had some success in this area. It launched DashDirect, a retail savings app, on July 27, 2021. The app allows you to make