Dash (cryptocurrency)

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Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency and decentralized autonomous organization (DAO).[1][2] It features instant transactions, private transactions and a self-funded, self-governed organizational structure.[3] Dash is a fork of the Bitcoin software[4] and is referred to as an altcoin.[5]

Etymology[edit]

The name 'Dash' is a portmanteau of 'Digital Cash'.[6]

History[edit]

Dash was launched in January 2014 by Evan Duffield.[7] It was originally known as Darkcoin, but rebranded as Dash in March 2015.[8]

Decentralized Autonomous Organization[edit]

Dash's self-funded, self-governed organizational structure, referred to as the treasury system[4] or decentralized governance by blockchain,[2] makes Dash a decentralized autonomous organization (DAO). A global network of masternodes vote on proposals for improving Dash's ecosystem.[4][7] Approved proposals are funded from the treasury, which receives 10% of all newly created Dash, with 45% allocated to miners and 45% to masternodes.[7] Running a masternode requires ownership of 1000 Dash.[9]

Dash Funded Initiatives[edit]

The Dash DAO funds a number of initiatives.

ASU Blockchain Research Laboratory[edit]

Arizona State University's Blockchain Research Laboratory requested $350k in funding from Dash's treasury to create blockchain-focused scholarships, an online blockchain course and perform research pertaining to Dash.[4][10][11] The proposal passed and Arizona State University received funding in December 2017.[4]

Cannabis Industry[edit]

Alt Thirty Six is a Dash-funded project that provides a payments platform for the legal cannabis industry in the United States.[12][13][14] The company received $496,000 in funding from Dash's treasury.[15]

Venezuela[edit]

An organization called Dash Venezuela has held 8 conferences as of 2018 in Venezuela aimed at community outreach and promotion of the cryptocurrency.[16] It promotes Dash as a method of payment and operates a Spanish-speaking technical support centre for problems related to Dash.[16]

Zimbabwe[edit]

KuvaCash is a Dash-funded startup that aims to offer a payment solution in Zimbabwe.[17] The project received $550k in funding from Dash's treasury[17] and passed with 871 votes in favour to 357 votes against.[18]

References[edit]

  1. ^ Galt, Juan S. (12 September 2015). "DASH – The First Decentralized Autonomous Organization?". Cointelegraph. 
  2. ^ a b Stevenson, John (29 May 2018). "City academic makes link between cryptocurrency trading and machine learning". City, University of London. 
  3. ^ Grant, Terry (18 Jan 2018). "Dash, Arizona State University Elevate Blockchain Research, Offer Graduate Course and Scholarships". FullCircle, Arizona State University. 
  4. ^ a b c d e Garg, Yash (10 Jan 2018). "Dash Gives ASU a Grant to Fund Blockchain Initiatives". ASU Blockchain Research, Arizona State University. 
  5. ^ McLannahan, Ben; Cornish, Chloe (20 Dec 2017). "Ex-Goldman Bankers Launch Crypto Fund For Rich US Investors". Financial Times. 
  6. ^ "The U.S. town where Bitcoin thrives". Quest Means Business. April 2018. CNN International. 
  7. ^ a b c Kauflin, Jeff (22 Dec 2017). "Dash Is Up 8,000% In 2017. Is This 'Darkcoin' A Better Version Of Bitcoin?". Forbes. 
  8. ^ Eha, Brian (26 June 2017). "Can Bitcoin's First Felon Help Make Cryptocurrency a Trillion-Dollar Market?". Fortune. 
  9. ^ Bergman, Adam (2 Mar 2018). "Taxation Of Cryptocurrency Proof Of Stake Transaction Fees". Forbes. 
  10. ^ Ringle, Hayley (19 Jan 2018). "ASU and Scottsdale cryptocurrency biz announce $350,000 agreement to accelerate blockchain technology". Phoenix Business Journal. 
  11. ^ Roberts, Jeff (17 Aug 2017). "Blockchain U: Arizona State and Digital Currency Dash Launch Research Lab". Fortune. 
  12. ^ Mizrahi, Avi (15 Oct 2017). "Payments Platform Alt Thirty Six Integrates Dash for Cannabis Sector". Finance Magnates. 
  13. ^ Adams, John (18 May 2018). "Crypto starts to chip away at cash's dominance in legal pot shops". Payments Source. 
  14. ^ Heun, David (13 Jun 2018). "Alt Thirty Six joins B2B cannabis marketplace to digitize pot payments". Payments Source. 
  15. ^ Dinkins, David (22 Oct 2017). "Digital Currency Looks to Solve Cannabis Industry's Cash Problem". Dash. 
  16. ^ a b Santambrogio, Clelia (15 May 2018). "Dash Venezuela continuará incentivando la adopción de la moneda a nivel personal, empresarial y de emprendimiento". Computerworld Venezuela (in Spanish). 
  17. ^ a b Akhtar, Tanzeel (26 Nov 2017). "As Zimbabwe Celebrates Mugabe Resignation, Bitcoin and Cryptos Reign Supreme". The Street. 
  18. ^ McFarlane, Gary (24 Nov 2017). "High-flying cryptos: Digital currencies and the bubble question". Interactive Investor. 

External links[edit]