DASH is an open source peer-to-peer cryptocurrency that has all the features of Bitcoin and also features such as instant transactions (InstantSend), private transactions (PrivateSend) and decentralized governance (DGBB).
Originally released as XCoin (XCO) on January 18, 2014, it was renamed Darkcoin on February 28, and then on March 25, 2015, it received the name DASH, a combination of the words Digital Cash.
Dash began its operation as a so-called DAO, i.e. a decentralized independent organization. This means that decisions related to the operation of the network are not made by a central organization, but by the votes of a circle of owners who own a specific number of coins. They are the so-called Masternodes, who help the blockchain function in a variety of ways, for example, they are the ones who authenticate anonymous transactions, for which in return 45% of the newly mined coins are shared between them. Another 10% goes to a central reserve, the use of which can be decided by the aforementioned nodes.
Dash's Private Send(PS) function, which ensures anonymous transactions, must always be activated by users in wallets that support it.
If someone uses the Private Send function, the system executes their coins together with the transactions of two other users and transfers them to a completely newly created wallet address. If necessary, this process can be repeated 8 times, so that the cryptocurrencies that are constantly mixed and sent again can no longer be linked to the wallets of the original senders.
Transactions are managed by the masternodes, and although they cannot steal the cryptocurrencies entrusted to them, users are still forced to trust the people who operate them, because they know exactly where the coins entrusted to them were sent from.