Dash is an open-source blockchain and cryptocurrency. which thrives to enable a fast, cost-efficient, global payments ecosystem that is fully decentralized in nature. Dash was created in 2014 and was developed by Evan Duffield. The primary focus for the utilization of Dash is in the transactional space, for use as a payment to merchants. Dash uses a Proof-of-Work mechanism.
The project was initially named as XCoin, then rebranded to Darkcoin, and then to Dash in March of 2015. The network encourages catalysing Bitcoin by facilitating solid privacy and swift transactions. Before going live on the mainnet, the platform has evolved to add features like a two-tier network with incentivized nodes. which is in addition to master nodes and decentralised product governance.
Dash was one of the first coins to successfully adopt self-governance and self-funding. It receives its development funds from the proceeds generated by the blockchain, and its governance is controlled by the owners of network master nodes. This also makes Dash one of the first successful decentralized autonomous organisations (DAOs).