Dash is an acronym for Digital Cash.
Previously, Dash was known as Darkcoin and was an alternative coin similar to bitcoin.
This digital asset, created in early January 2014, offers a higher level of privacy than bitcoin, with a new decentralized network called Masternodes. With this network of Masternodes, Dash is the first digital currency to offer instant and secure transactions.
Founded by software developers Evan Duffield and Kyle Hagan, the project was originally called XCoin, changing its name to Darkcoin two weeks later before rebranding again to Dash in March 2015 in an attempt to positively rebrand its image. According to their website, their goal is “to be the most user-friendly and payment-focused crypto asset in the world.” To achieve this, the project relies on a network of masternodes, which are servers backed by collateral stored in Dash designed to provide secure advanced services and governance of its proposal system. In exchange for a share of the block reward, the masternode provides second layer services to the network. They facilitate functions like InstantSend, PrivateSend and ChainLocks.
Previously, Duffield was a software developer with experience in finance, having worked at the Hawk Financial Group, as well as in public relations, having developed machine learning and search engine algorithms. He first conceived of Dash in 2012 as a way to add more anonymity to Bitcoin — hence, initially calling it Darkcoin. Duffield claims he started it as a hobby, coding it in just one weekend. Duffield served as CEO of the Dash Core Group — a company that supports sustainable development, integration, and other innovation — until December 2017 when he stepped down to focus on other strategic initiatives.
DASH also has a DarkSend feature which combines each transaction with two other transactions in the public ledger making it very difficult to track. When this video was made, the number that has been circulating in the world is around 9 million, and will be launched to reach a total of 18,900,000.