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Created in 2014 as a derivative of Litecoin, Dash uses a mix of miners and masternodes to validate transactions. Originally a cryptocurrency, Dash is also a decentralized autonomous organization (DAO). The DAO is run by masternodes who are a subset of its users.
Dash is an open-source cryptocurrency that allows quick and untraceable transactions. Touting incredibly fast transaction speeds, Dash uses a decentralized peer-to-peer network and strong cryptography so users can make payments without going through a central authority. Using built-in security, Dash offers tamper-proof instant transactions which differentiate it from other cryptocurrencies. Dash can be used as a currency instead of just as an investment.
Being untraceable, Dash quickly became the darknet market cryptocurrency of choice. To clean up its image, Dash rebranded in 2015 and isn’t used on darknet markets anymore. Regarded as one of the top cryptocurrencies, Dash is a premium digital currency recognized globally.
Dash Governance Overcomes the Shortfalls of Bitcoin
The DAO makes decisions on the blockchain through the masternodes. The masternodes perform nodes functions, store user data, process transactions, and act like shareholders by voting how to improve Dash’s ecosystem. Masternodes also make sure the blockchain is available to all network participants. Dash’s governance also includes standard nodes and miners.
Dash’s DAO overcomes some of Bitcoin’s pitfalls, and because the digital currency is growing in support, it is a viable currency to be used globally.
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Basic Attention Token
Multi Collateral Dai