DigitalCash (DASH) uses a brand new chained hashing algorithm attempt with many new academical hashing algorithms for the proof-of-work (PoW). DASH aims to be the world’s first privacy-centric cryptographic currency with completely encrypted transactions and anonymous block transactions. This feature is called PrivateSend and can be found on the official Dashcore wallet. PrivateSend mixes your DigitalCash (DASH) coins with other users who are also using this feature at the time making your transactions untraceable.
Dash’s network has grown to 4,100 master nodes since launch in 2014, meaning Dash’s peer-to-peer network is one of the largest in the world.
At Dash’s core is a unique fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain and master nodes are rewarded for validating, storing, and serving the blockchain to users. Dash splits its block reward 45% to miners, 45% to master nodes, and 10% to a treasury managed by the DAO – this allows the network to scale on-chain by incentivizing all essential network infrastructure to upgrade as required.
Note: 1 Duff = 0.00000001 Dash | Duff was derived from the founder of Dash (“Evan Duffield”)
Masternodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy, and governance, while eliminating the threat of low-cost network attacks.