Dash (DASH) is a decentralized cryptocurrency that aims to provide a fast, secure, and private online transaction experience. It was created in 2014 under the name Xcoin and later rebranded as Dash, a portmanteau of “digital cash.” Dash operates on a two-tier network architecture, which includes a standard blockchain layer and a second layer of masternodes. The masternodes provide advanced features such as instant transactions (InstantSend), private transactions (PrivateSend), and voting for governance decisions.
Dash has a unique governance model where the community can propose and vote on changes to the protocol. It also has a self-funding model where a portion of the block rewards are allocated to the development and promotion of the network. Dash aims to offer a faster and more private alternative to traditional online payment methods, making it a popular choice among merchants and consumers.