The Dash coin was created by Evan Duffield on January 18, 2014. Originally released as XCoin (XCO) and rebranded to Darkcoin in February 2014 – the promising Dash cryptocurrency finally settled on its current name on March 25, 2015.
A derivative of Bitcoin, Dash coin is essentially digital cash that works exactly like physical cash, except it’s exchanged on a highly secure, decentralized peer-to-peer network. It was designed to have a total supply of 18 million coins, 2 million of which were mined during its first day, and around 8 million of which are in circulation at the time of writing.
Because Dash’s code is based on that of Bitcoin, Dash is compatible with all existing wallets and cryptocurrency exchanges originally developed for Bitcoin. When measuring node count by market cap, Dash’s infrastructure robustness is more than an order of magnitude higher than the competitors’ like Bitcoin and Ethereum.
While many cryptocurrencies were built on complete transparency, including the type that allows others to see who is sending and receiving the coins, there has been an increasing focus on true privacy and anonymity with cryptocurrencies.
One of the leaders in this privacy-centric space is the coin known as Dash. Dash has been around for some time, having been launched in 2014 as Darkcoin. In fact, the cryptocurrency’s whitepaper, co-authored by Evan Duffield and Daniel Diaz, describes it as “the first privacy-centric cryptographic currency” based on Nakamoto’s work with Bitcoin.
Masternodes have been around for quite some time, but have only recently begun to receive a good deal of attention. Masternodes, which are also known as bonded validator systems (we’ll stick with masternodes or MN), are servers that provide additional services for the blockchain that can’t be accomplished using Proof-of-Work.