View profile

Digital Cash: Dash (DASH) in 5 🖐

Digital Cash: Dash (DASH) in 5 🖐
By Fernando Gutierrez • Issue #79 • View online

What is Dash (DASH)? 💵
Dash is a cryptocurrency evolved from Bitcoin that is optimized to be decentralized digital cash.
Transactions are instantly confirmed and finalized. Fees are negligible.
It also offers easy-to-use extra security for the user through in-wallet Coinjoin mixing of funds.
Dash uses Proof of Work (PoW) consensus, but it splits the block reward between all the actors that service the network instead of giving it all to the miners.
Thanks to that, Dash has been able to add functionality and maintain a healthy ecosystem.
Dash can do all this on-chain while using Proof of Work (PoW) consensus because it invented the masternodes.
These are collateralized servers that perform services for the network in exchange for a portion of the block reward.
There are currently +4k masternodes.
Masternodes always work in groups —or quorums— so rogue nodes can’t do any harm.
In order to control the masternode layer, an attacker would need to control 25% of the circulating supply, which is not realistic.
Dash can scale on-chain also because of masternodes.
They take the burden of on-chain growth scalability because they get paid and can afford to grow with the blocks.
The network has done millions of transactions in a day without a glitch.
Running on top of the masternode layer, Dash is about to launch a development Platform with services that simplify building decentralized applications and turn Dash into a decentralized cloud.
The platform runs on a second Tendermint-based blockchain that’s stored on the masternodes.
The main architectural components of the Dash Platform are:
  • Decentralized HTTP API
  • Blockchain verified storage of user data
  • Usernames
The first big application will be blockchain usernames on the wallet.
Dash is Becoming a Decentralized Cloud | Dash Platform #1
Dash is Becoming a Decentralized Cloud | Dash Platform #1
Dash is the first DAO. It launched its governance in 2015.
Part of the block reward goes to the treasury. Anyone can make proposals directly to the blockchain. Masternodes vote on the distribution of those funds.
The treasury pays for development and adoption initiatives.
Many of the adoption initiatives happen in Latam, especially in countries with weak local currencies like Venezuela.
Many businesses there accept Dash and consistently report that Dash is 1st or 2nd most used when several cryptocurrencies are accepted.
@beincrypto @Dashpay Here is one of the last times I used @Dashpay in @pizzahut in Caracas, Venezuela!!

Thanks to the @cryptobuyer POS, we can use Dash in real world settings!
DASH is the only token needed in the network.
It has fixed supply and a rapidly decreasing inflation. The block reward is reduced by 7% annually.
Since each masternode needs to collateralize 1000 Dash, more than 40% of the circulating supply is locked on them.
A few links
Last few words
Of course, this is not financial advice yada yada yada.
Grown-ups make their own decisions, whatever they are, and accept the consequences. Be a grown-up.
I’m catching up with crypto concepts and projects daily for 50 days straight. Please reply to this email if there is something that you would like me to cover.
Or just to say hi, that would be nice 😀
Did you enjoy this issue?
Fernando Gutierrez

I'm catching up with crypto projects and concepts in a few paragraphs for at least 50 days straight.

In order to unsubscribe, click here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue