Dash - Shitcoin Review
on Aug 14, 2018
Let’s dive into some more private shit.
This is a solid coin that we are sure you know about. If you don’t then please unsubscribe from our mailing list.
Today’s coin is DASH.
Let’s dig in….
Dash (ticker: DASH)
Wtf is this shit?
Dash, formerly known as Darkcoin, formerly known as XCoin is a privacy focused coin great for purchasing illegal substances. Lol jk, they rebranded to avoid the stigma associated with buying illicit things, but in reality, it’s probably still solid for that.
ANYWAYS, Dash is a fork of both Bitcoin and Litecoin, taking some code from each..like a smorgasboard. They have been around for almost 4 years now and are regarded as pioneers in the space.
Their protocol includes features such as PrivateSend, InstantSend, masternodes and their own X11 algorithm for PoW consensus.
PrivateSend is the shit that makes them private (obviously). It is essentially a mixer. So, when you send a transaction out, the request is sent to masternodes, which then facilitate the transactions by mixing coins in .1, 1, or 10 DASH at a time between users until the transactions are complete. This mixing makes transactions nearly untraceable.
InstantSend is a transaction type which can be verified nearly instantly, and this is due to the work of masternodes as well. The masternodes handle InstantSend transactions.
A masternode requires 1,000 DASH, which is quite a lot of money. The high DASH requirement is seen as necessary because masternodes hold an immense amount of responsibility. They facilitate transactions and can vote on technical proposals to the network...influencing their roadmap. Also, enough people holding 1,000 DASH can contribute to some market stability.
Their X11 algorithm is seen as more lightweight than Scrypt or SHA-256, using less electrical power while achieving the same level of security….and 2.5 minute blocktimes.
45% of block rewards are distributed to miners, another 45% to masternode guys, and 10% to a decentralized budget system which that uses a superblock once a month to payout budget proposals.
Who tf is behind this shit?
Founded by InternetApe, but he sold his coins long ago.
They have had members come and go, some notable ones we know of are Daniel Diaz and Evan Duffield... Evan Duffield was a tech guy in the late nineties. He then studied for the series 65 in 2010ish as he gained an interest in finance. The series 65 allows individuals to be investment advisors...the test covers securities, finance, regulations and law. It is believed that while studying for this exam was when he initially became interested in Bitcoin. So, he has the right background and timing...lucky guy! (and smart)..
Daniel Diaz was the head of business development and Dash (no longer part of the team). He has an extensive sales and entrepreneurial background. To be honest, the crypto industry can use more Dan’s, hence their success..eh? Marketing works. He has since been replaced by Bradley Zastrow, a finance and partnership professional of 17+ years.
Anyways, High-Tier shitcoin...pretty reliable team and history. Let’s see if they continue to be a top coin in the industry.
Hope you learned some shit.
- Mike and Aaron