{"id":21553,"date":"2017-12-20T08:09:33","date_gmt":"2017-12-20T16:09:33","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=21553"},"modified":"2019-11-07T02:37:04","modified_gmt":"2019-11-07T02:37:04","slug":"deeper-dive-dash-dynamite-year","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/deeper-dive-dash-dynamite-year\/","title":{"rendered":"A Deeper Dive Into Dash and Its Explosive Year"},"content":{"rendered":"

Dash (DASH)<\/a> is having a phenomenal year — just one year ago, Dash was worth about $10 per coin. This past week, Dash broke the $1000 barrier and at press time is trading for $1531.<\/p>\n

\"Dash\"<\/a>
Dash<\/a>\u00a0runs a proof of work (PoW) and proof of stake (PoS) consensus algorithm.<\/figcaption><\/figure>\n

A portmanteau of “Digital Cash,” Dash aims to be just that: a realistic, reliable digital cash solution for the global economy.<\/p>\n

While Bitcoin<\/a> and Ethereum<\/a> look for off chain solutions to scalability, Dash<\/a> has a rather ingenious on-chain\u00a0solution to keep all transaction validations on the blockchain.<\/p>\n

The Rise<\/h2>\n

In June of 2017, Dash really started to take off — the daily trade volume spiked to $100 million\/day several times throughout the month and it became the one of the most talked about coins on Bitcoin Talk<\/a>.<\/p>\n

\"\"
ASU is one of the largest colleges in the U.S. with a population of 71,946 students.<\/figcaption><\/figure>\n

Dash's developer community eventually reached to 30 full-time and 20 part-time employees, all who are paid by Dash's budget system<\/a>. This budget system is run by crypto's first ever DAO, otherwise known as a decentralized autonomous organization.<\/p>\n

In August of this year, Dash partnered with Arizona State University to create a blockchain research lab<\/a>. According to it's press release:<\/p>\n

Initial research will focus on blockchain scalability, best practice, network architecture, environmentally -friendly mining, latency and throughput. Work will commence this month, and as the partnership progresses, may also include on-campus student lessons taught by Dash Core executives.<\/p><\/blockquote>\n

This positive news sent Dash price price to new all time highs and demonstrated that there is a strong demand for blockchain research within academic settings.<\/p>\n

\"Dash
Dash began the year at $11.62 and is currently sitting at $1389 – a gain of more than 11,900%.<\/figcaption><\/figure>\n

History of Dash<\/h2>\n
\"Evan
Evan Duffield founded DASH in 2014.<\/figcaption><\/figure>\n

Dash started out as XCoin back in 2014. One month later, it was rebranded to DarkCoin. One year and a month after that (March 2015), DarkCoin was rebranded to Dash.<\/p>\n

During the XCoin\u00a0days, the release came off to a rocky start: The initial fork led to a bug that allowed 10% of the entire supply of Dash to be mined by whoever was mining at the time.<\/p>\n

Evan Duffield, the founder of Dash, tried to rectify\u00a0this by starting over or airdropping to broaden the distribution; the community rejected his ideas and decided to go forward with development.<\/p>\n

This led Dash to be sold at a very low price on exchanges, which eventually distributed the Dash network more evenly.<\/p>\n

How does it work? Watch this video (1:40):<\/p>\n