| Currency Name: | Dash |
| Image 1: | Dash_logo_2018_rgb_for_screens.png |
| Image Title 1: | Dash Logo |
| Using Countries: | Worldwide |
| Subunit Name 1: | duff |
| Previous Names: | Xcoin, Darkcoin |
| Ticker Symbol: | DASH |
| Plural: | Dash |
| Subunit Name 2: | Dash |
| Subunit Ratio 2: | ? |
| Subunit Name 3: | mDash |
| Subunit Ratio 3: | ? |
| Block Reward: | 1.9063962 DASH |
| Total Supply: | 18.900.000 DASH |
| Latest Release Version: | 21.0.0 |
| Programming Languages: | C++ |
| Hash Function: | X11 |
| Timestamping: | Proof-of-work |
| Issuance: | Decentralized, block reward |
| Block Time: | 2.5 minutes |
| Author: | Evan Duffield |
| White Paper: | Whitepaper |
Dash is an open source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users. It was previously known as Xcoin and Darkcoin.
The currency was launched in January 2014 as "Xcoin" by Evan Duffield, as a fork of the Bitcoin protocol.[1] It is an altcoin and in its early days it was subject to pump and dump speculation.[2] It was rebranded as Darkcoin, which received press for being used in dark net markets.[3] In March 2015, it rebranded again with the name Dash as a portmanteau of 'digital cash'.[2] As of August 2016, Dash is no longer used in any major dark net markets worth noting.[4]
In early 2017 Duffield, who lived in the Phoenix area, and some other people working on Dash took space in a business incubator at Arizona State University.[5] The Dash DAO later funded a blockchain research lab at ASU.[6]
, Dash's market capitalization was around $4.3 billion and it was one of the top 12 cryptocurrencies.[7]
, Dash was the most popular cryptocurrency in Venezuela according to Der Spiegel.[8] In Venezuela, it was often used alongside Bitcoin and Petro, with Petro basing much of its technology from Dash. On 1 October 2018, Petro switched to an X11 algorithm-based design, which was copied from Dash.[9]
Dash was designed to allow transactions quickly and to have a swift governance structure in order to overcome shortfalls in Bitcoin.[2]
Governance is handled through a form of decentralized autonomous organization in which decisions are made via a blockchain. The system includes standard nodes and miners.[10]
The system's decentralization has been criticized due to a mishap, which allowed too many coins to be distributed at release. This concentrated the wealth in a small group, giving them disproportionate power in decisions over the currency’s future.
As of 2018, coins were mined using a proof of work algorithm with a hash function called "X11", with eleven rounds of hashing, and the average time to mine a coin was around two and a half minutes.[10]