Dash is one of the most well-known cryptocurrencies. The coin was first launched in 2014 under the brand name Xcoin. It was founded by Evan Duffield. The cryptocurrency currently is the 15th coin by total market cap. During the December bull run, it reached a total market cap of 3.4 billion USD. After a year, founders rebranded Xcoin to DarkCoin which resulted in negative media attention. Media constantly linked the coin to the dark web. In 2015 it rebranded to its current name DASH and stayed like that ever since. Additionally, it is very unique and outstanding with its blockchain technology in comparison to other coins. It uses multi-layer blockchain enabling different kind of transactions with each-unique characteristics pegged to one coin. DASH masternodes do all the major decisions on its network. Besides, there are standard nodes and miners that participate in blockchain maintenance.
A Dash masternode consists of 1000 coins. It gives you an annual interest of approx. 7% (measured in the cryptocurrency) which equals 45% of all block rewards. All masternodes receive approx 45% of all the coins created. To keep a Masternode you need a static IP address, at least 1 GB of ram, 10 GB of free disk space and a stable internet connection.
Many people think that Bitcoin transactions are anonymous, however, they all can be tracked through public blockchain. However, DASH offers a feature called “Privatesend”. It makes a completely anonymous transaction through the network. Another feature which is rare in cryptocurrencies is instantaneous transactions. Masternodes ensure these transactions. Due to this fact, it is one of the fastest cryptocurrencies there is.
Dash governance system introduced us to Decentralized Autonomous Organizations also known as DAOs. Masternodes perform all the governance-related actions within the DAO. Each master node holds the same voting power and operates like a shareholder in a company. Regular DASH miners have no right to vote or participate in governance.
Real life implementation
Dash has received a lot of media attention through its lifespan starting from negative darknet accusations to positive news regarding charity events. It all has resulted in widespread recognition of the coin. There have been rumors of food chain giant KFC accepting it as a payment method in Venezuela due to their economic problems and fiat currency instability.
Currently, there are a total of 5046 known masternodes. The leader is The United States of America hosting a total of 1288 masternodes which equals to 26% of total network weight. The cryptocurrency currently trades in more than 200 exchanges. Top 10 largest dash wallets hold 5.7% of the total amount of the coins. (See picture below)