Dash is an open-source peer-to-peer (P2P) cryptocurrency primarily used in the payments industry. Dash provides a form of money that is easy to carry, affordable, divisible, and fast to transact. It can securely make online or in-person payments with only a small transaction fee. Dash improves upon the Bitcoin project and aims to be the most user-friendly and scalable payment system in the world.
How does it work
Like Bitcoin, Dash is based on distributed ledgers that contain all transactions, also known as blockchains. The blockchain is secured through a consensus mechanism. In the case of Dash and Bitcoin, this consensus mechanism is Proof of Work (PoW). But Dash works a little differently than Bitcoin because it has a two-tier network. The second-tier network is powered by masternodes (also known as full nodes), enabling features such as financial privacy, instant transactions, decentralized governance, and a budget proposal system