What is DASH?
Dash (formerly known as Darkcoin until March 26th 2015) is a cryptocurrency that focuses on privacy and anonymity. Dash protects your privacy by anonymizing transaction that you make over the network using a technology that is developed by the Dash team called DarkSend. DarkSend is inspired out of the CoinJoin project that was meant to anonymize Bitcoin transactions. In Dash, payments are private so nobody can track you, your transactions and balances are nobody’s business.
Dash harnesses the power of its Masternode network to power an innovative technology called InstantX. When sending money, users can select the “Use InstantX” box in their wallet, and transactions will be fully sent and irreversible within four seconds. Besides, it has advanced encryption and a trustless protocol for complete security in your payments and anonymization process.
The new Dash rebranding of Darkcoin focuses on making open-sourced private digital currency more mainstream. Heavy emphasis are placed on security, instant transaction, and security when it comes to the Dash core development team. 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 which makes it highly secure.
As of the current design, there will only be 22 million Dash ever created, making it a deflationary currency. CoinGecko had a chance to interview Evan Duffield, creator of Dash to get some insights and perspectives on Dash. Check out here to read more: CoinGecko Interview with Evan Duffield, Creator of Dash.