Background

Bitcoin provides pseudonymous transactions in a public ledger, with a one-to-one relationship between sender and receiver. This provides a permanent record of all transactions that have ever taken place on the network. Bitcoin is widely known in academic circles to provide a low level of privacy, although with this limitation many people still entrust their financial history to it’s blockchain. 

Dash is the first privacy-centric cryptographic currency based on the work of Satoshi Nakamoto. In this paper we propose a series of improvements to Bitcoin resulting in a decentralized, strongly anonymous crypto-currency, with tamper-proof instant transactions and a secondary peer-to-peer (P2P) network incentivized to provide services to the Dash Network.

Features

Next-Gen P2P Network

At Dash’s core is a unique fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain and masternodes are rewarded for validating, storing and serving the blockchain to users.

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.

First Self Governing, Self Funding Protocol

In Dash, everyone has a voice and the ability to propose projects directly to the network. Anything you can do - from marketing to development - that helps Dash grow and improve can be funded. This means Dash funds its own growth and adoption, consensus is guaranteed, and everyone is accountable to the network.

The Fastest Growing Network

Thanks to incentivization, Dash’s network has grown to 4,100 masternodes since launch in 2014, meaning Dash’s peer-to-peer network is one of the largest in the world.

More nodes means more secure services, and more capacity for end-users to access Digital Cash from anywhere in the world, 24/7.

Digital Currency Evolution

Dash Evolution will enable you to sign up and access your Dash from any device and transact as easily as you can with PayPal, but in a fully decentralized way. 

Conclusion

Dash's various concepts to improve the design of bitcoin resulting in improved privacy and fungibility for the average user, less price volatility and quicker message propagation throughout the network. 

This is all accomplished by utilizing an incentivized two-tier model, rather than the existing single-tier model in other cryptocurrencies such as Bitcoin. 

By utilizing this alternative network design it becomes possible to add many types of services such as decentralized mixing of coins, instant transactions and decentralized oracles using masternode quorums.