Basics of DASH

In this video we will be going over the basic features of DASH.

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Dash was originally launched as XCoin in January of 2014, rebranded as DarkCoin soon after  and then in March 2015 given its current name of Dash in reference to the word “digital  cash”.  Dash is a cryptocurrency platform focused on innovating in the areas of privacy, transaction  speed, and decentralized governance.  Partipants in the DASH ecosystem include wallet holders, who can send and recieve cryptocurrency  using their private & public keys.

Miners, who create blocks and validate transactions through a proof-of-work algorithm  And Master Nodes which are unique to DASH and provide an additional layer of functionality  which we will look at next.  Master Nodes are participants who put up a minimum of 1000 DASH coins as collateral in  order to provide additional functionality and governance to the network in exchange  for a percentage of block rewards.

The Master nodes faciliate Private Send, Instant Send and determine how funds in the treasury  are spent  45% of Block rewards go to the Master Nodes 45% goes to miners and the remaining 10% goes  into the Treasury  Block Rewards are split as follows.  45% goes to the miners, 45% goes to the master nodes and remaining 10% percent goes to the  treasury.  The treasury funds can be used to fund projects which further the DASH platform.  These are voted on by the master nodes.

PrivateSend is an optional service offered by MasterNodes for a small fee.  It mixes a senders transactions with identical inputs from multiple users into a single transaction  with several outputs.  This makes directly tracing a transaction nearly impossible.  Transaction amounts sent must be multiples of predetermined amounts to allow for efficent  mixing.  Instant Send is another optional service offered by MasterNodes for a small fee.  This allows for near instant transactions by locking transaction inputs while they await  being recorded on the blockchain.  Locking the inputs prevents double spending of transactions.  Thank you for joining me today.  If you enjoyed this video, please like and subscribe.  Have a wonderful day.

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Basics of DASH