What is Dash?
Dash aims to be the most user-friendly and scalable payments-focused cryptocurrency in the world. The Dash network features instant transaction confirmation, double spend protection, anonymity equal to that of physical cash, a self-governing, self-funding model driven by incentivized full nodes and a clear roadmap for on-chain scaling to up to 400MB blocks using custom-developed open source hardware. While Dash is based on Bitcoin and compatible with many key components of the Bitcoin ecosystem, its two-tier network structure offers significant improvements in transaction speed, anonymity and governance. This section of the documentation describes these and many more key features that set Dash apart in the blockchain economy.
The videos, links and documentation collected here can help you get started, or use the table of contents on the left to find a specific topic of interest. New users may be interested in getting started with an appropriate wallet, learning about how to buy Dash and where to spend Dash, learning about safety or joining one of the many Dash community sites.
The Dash Whitepaper describes the unique value proposition and key innovations in Dash from an academic and theoretical perspective. It is a living document maintained as a GitHub wiki, receiving ongoing updates and frequent community translations as new features are implemented. Various other whitepapers describing particular features in additional detail and (for historical reasons) the original whitepaper are available for download as PDF files.
The Dash Roadmap sets out delivery milestones for future releases of Dash and includes specific technical details describing how the development team plans to realise each challenge. Like the Whitepaper, it is versioned and maintained as a project on GitHub.
- First block mined at 11PM EST, 18th January 2014
- No premine
- X11 hashing algorithm, CPU/GPU/ASIC mining available
- 2.6 minute block time, 2MB blocks, ~56 transactions per second
- Block reward decreases by 7.14% per year
- Dark Gravity Wave difficulty adjustment algorithm
- Between 17.74M and 18.92M total coin supply
- Decentralized second-tier masternode network
- Superior transaction anonymity using PrivateSend
- Instant transactions using InstantSend
- Decentralized Governance By Blockchain allows masternode owners to vote on budget proposals and decisions that affect Dash
In addition to traditional Proof of Work (PoW) rewards for mining Dash, users are also rewarded for running and maintaining special servers called masternodes. Thanks to this innovative two tier network, Dash can offer innovative features in a trustless and decentralized way. Masternodes are used to power PrivateSend, InstantSend, and the governance and treasury system. Users are rewarded for running masternodes; 45% of the block reward is allocated to pay the masternode network. You can view practical guides on all topics relating to masternodes here.
Masternodes enable the following services:
- InstantSend allows for near-instant transactions. Dash InstantSend transactions are fully confirmed within two seconds.
- PrivateSend gives financial privacy by obscuring the source of funds on the blockchain.
- Governance and Treasury allows stakeholders in Dash to determine the direction of the project and devotes 10% of the block reward to development of the project and ecosystem (as of May 2018, our annual budget exceeds $30 million).
- Dash Evolution will make using cryptocurrency as easy as using PayPal.
Masternode owners must have possession of 1000 DASH, which they prove by signing a message and broadcasting to the network. Those coins can be moved at any time, but moving them will cause the masternode to fall out of queue and stop earning rewards. Masternode users are also given voting rights on proposals. Each masternode has one vote and this vote can be used on budget proposals or important decisions that affect Dash.
Masternodes cost money and effort to host so they are paid a percentage of the block reward as an incentivize. With current masternode numbers and rewards, masternodes earn approximately a 8% return on 1000 Dash (which means 6.97 Dash or USD1360 in July 2017) for the year of 2017. This tool shows a live calculation of masternode earnings. These rewards decrease by 7% each year, but the rising value of Dash may offset these reductions. As a matter of fact, masternodes were receiving 140 Dash per month at the beginning of 2016, but this was actually less money than today: USD600 per month. There is also the possibility for masternodes to earn money from fees in the future.
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