Formerly referred to as Darkcoin and Xcoin, Dash is another open source peer-to-peer cryptocurrency designed on the blockchain technology just like Bitcoin. It was developed by Evan Duffield and it was released on the 14th January 2014. It aims to be the most user-friendly and most-scalable cryptocurrency in the world. Within the first two days of its release, about 1.9 million coins were minedDash offers an instant transaction, is faster than Bitcoin and operates on a self-funding and self-governing model. This allows it to pay individuals and businesses in its network after tasks that add value to the network have been performed. These individuals are miners and they are rewarded for validating, storing, serving and securing the blockchain which is the core from which the cryptocurrency is mined.Dash’s blockchain works as a layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks. Its blockchain has a layer where jobs, such as the creating of new blocks, are performed by miners while the second layer referred to as Masternode is responsible for instant transaction confirmations and government functions.
Dash is among the top performing cryptocurrencies based on market capitalization and it has become the most active altcoin community on crypto platforms like BitcoinTalk.