Deep Dive
1. Purpose and payments
Dash launched in 2014 and takes its name from “digital cash.” It is designed for sending value directly between people, rather than relying on a bank or payment processor. Its InstantSend feature uses masternodes to lock transactions for faster settlement than waiting for multiple blocks.
2. Network and governance
Miners use proof of work, a method of securing a blockchain through computing power, to validate blocks. Masternodes provide additional services, support features such as InstantSend and optional transaction privacy, and vote on proposals for network funding. DASH is used within this system for payments and masternode collateral. Dash’s documentation describes its two tier design and payment focus.
Conclusion
Dash is a payment focused cryptocurrency whose distinctive features combine quick transactions with masternode services and community governance. How well can it make everyday digital payments simple and useful?
