Dash, the peer-to-peer decentralized electronic cash, turns five today.
Dash’s mission on launch was to make digital cash easy to use and accessible for all users, even those who aren’t technologically savvy.
With users able to setup an account on blockchain, Dash was intended to be as common as real cash. Built in the same framework as Bitcoin’s core code, the code is open-source and has its own blockchain, wallet infrastructure, and community.
Developer Evan Duffield started Dash on the 18th January 2014 and it was originally released as XCoin (XCO). In February 2014, there was a rebrand to Darkcoin; then subsequently on 25 March 2015, Darkcoin was finally rebranded as Dash.
Duffield said he saw Bitcoin in 2010 and although he was impressed by its technology, he realised that Bitcoin was not private or fast enough and wanted to find a solution to these problems.
Dash claims to have a total supply of 18 million coins and says the circulating supply of Dash is currently 7.4 million. The average block mining time is 2.5 minutes on the Dash blockchain.
It has stated that many local retail outlets including American fast-food franchise Subway and fashion giants Calvin Klein accept Dash payments. Forbes also reported that KFC is in deep discussions with Dash over its Venezuelan outlets accepting the cryptocurrency.
Happy birthday Dash!