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] The original name was XCoin[8] before rebranding as Darkcoin and then Dash in March 2015.[9] It began as a fork of the Litecoin project, before rebasing to become a fork of Bitcoin in January 2015.[8]

Version Notes Release Date
Old version, no longer supported: 0.8.x Fork from Litecoin tree 0.8[8] 18th January 2014[8]
Old version, no longer supported: 0.9.x Masternode implementation[8] 13th March 2014[8]
Old version, no longer supported: 0.10.x PrivateSend implementation[8] 25th September 2014[8]
Old version, no longer supported: 0.11.0 Rebase on Bitcoin[8] 15th January 2015[8]
Old version, no longer supported: 0.11.1 InstantSend implementation[10] 10th February 2015[8][10]
Old version, no longer supported: 0.11.2 Rebrand from Darkcoin to Dash[11] 4th March 2015[8]
Old version, no longer supported: 0.12.0 Treasury implementation[12] 15th June 2015[8]
Old version, no longer supported: 0.12.1 Object-oriented governance system[13] 6th February 2017[8][13]
Old version, no longer supported: 0.12.2 2x block size increase, 10x fee reduction[14] 8th November 2017[8]
Current stable version: 0.12.3 Named devnets, performance improvements[15] 3rd July 2018[8]
Future release: 0.12.4 TBA[16]
Future release: 0.13.x Codename 'Evolution'[16] TBA

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.[17]

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][18][19] 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.[20][21][22] The company received $496,000 in funding from Dash's treasury.[23]

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.[24] It promotes Dash as a method of payment and operates a Spanish-speaking technical support centre for problems related to Dash.[24]

Zimbabwe[edit]

KuvaCash is a Dash-funded startup that aims to offer a payment solution in Zimbabwe.[25] The project received $550k in funding from Dash's treasury[25] and passed with 871 votes in favour to 357 votes against.[26]

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. ^ a b c d e f g h i j k l m n o p "Dash Release Notes - Older Releases". GitHub. Retrieved 2018-08-03. 
  9. ^ Eha, Brian (26 June 2017). "Can Bitcoin's First Felon Help Make Cryptocurrency a Trillion-Dollar Market?". Fortune. 
  10. ^ a b "InstantSend Release Notes". Dash. Retrieved 2018-08-03. 
  11. ^ "Dash 0.11.2 Release". Dash. Retrieved 2018-08-03. 
  12. ^ "Dash 0.12.0 Release Notes". GitHub. Retrieved 2018-08-03. 
  13. ^ a b "Dash 0.12.1 Release". Dash. Retrieved 2018-08-03. 
  14. ^ "Dash 0.12.2.0 Release Notes". GitHub. Retrieved 2018-08-03. 
  15. ^ "Dash 0.12.3.1 Release Notes". GitHub. Retrieved 2018-08-03. 
  16. ^ a b "Dash Documentation". Dash. Retrieved 2018-08-03. 
  17. ^ Bergman, Adam (2 Mar 2018). "Taxation Of Cryptocurrency Proof Of Stake Transaction Fees". Forbes. 
  18. ^ Ringle, Hayley (19 Jan 2018). "ASU and Scottsdale cryptocurrency biz announce $350,000 agreement to accelerate blockchain technology". Phoenix Business Journal. 
  19. ^ Roberts, Jeff (17 Aug 2017). "Blockchain U: Arizona State and Digital Currency Dash Launch Research Lab". Fortune. 
  20. ^ Mizrahi, Avi (15 Oct 2017). "Payments Platform Alt Thirty Six Integrates Dash for Cannabis Sector". Finance Magnates. 
  21. ^ Adams, John (18 May 2018). "Crypto starts to chip away at cash's dominance in legal pot shops". Payments Source. 
  22. ^ Heun, David (13 Jun 2018). "Alt Thirty Six joins B2B cannabis marketplace to digitize pot payments". Payments Source. 
  23. ^ Dinkins, David (22 Oct 2017). "Digital Currency Looks to Solve Cannabis Industry's Cash Problem". Dash. 
  24. ^ 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). 
  25. ^ a b Akhtar, Tanzeel (26 Nov 2017). "As Zimbabwe Celebrates Mugabe Resignation, Bitcoin and Cryptos Reign Supreme". The Street. 
  26. ^ McFarlane, Gary (24 Nov 2017). "High-flying cryptos: Digital currencies and the bubble question". Interactive Investor. 

External links[edit]