Who was Dash made by?
Dash was created by Evan Duffield, he is the founder and lead dev. Dash was founded in 2015.
What is Dash?
Dash is a peer to peer based currency, a user to user connected network, without any central server for data. It allows for the sending of money digitally, without the need of a centralized financial institution, like a bank. Dash can be bought in fractions, making the technology and currency available for everyone. Dash has a focus on anonymity, speed, and low fees. It differs from Bitcoin because of these features.
How does Dash work?
Dash is a blockchain based network, as much as it’s a currency or store of value. In order to power the blockchain, and confirm blocks that have transaction data, Dash utilizes a process called Proof of Work mining. Proof of Work as stated helps confirm and process blocks, and in turn helps process the transactions, as well generates blocks generates new blocks. The network uses the blocks created by the mining process, to organize transactions.
Dash has a system referred to as Masternodes. Masternodes act as incentivized nodes for the network. Masternodes also allow the network to do things like instantly sending coins with InstantSend, or on-chain mixing of Dash coins through PrivateSend to help anonymize transactions. In order to run a masternode, you must have 1000 Dash coins. As stated earlier masternodes receive incentives for operating, masternodes receive 45% of the block reward from each block processed. The remaining amounts of the block reward is divvied up with 45% going to Proof of Work miners, and the final 10% going to the Dash founder fund.
How do you store, send, and receive Dash?
In order to store, send or receive Dash; you will need a wallet to generate an address to use. Check out Dash Wallets for wallets that we like using!
How you buy Dash?
To purchase Dash using fiat based currencies, like USD or EUR, you will need to purchase off a cryptocurrency exchange. Check out Exchanges for platforms that we enjoy!