Dash is a cryptocurrency that aims to provide faster transactions and governance compared to Bitcoin. It uses a two-tier network of nodes and masternodes, where masternodes host full copies of the blockchain and validate transactions in exchange for a portion of block rewards. Dash features PrivateSend and InstantSend to provide additional privacy and speed for transactions. PrivateSend mixes users' unspent coins to make transactions untraceable, while InstantSend locks in transactions within seconds using masternode quorums. The founders created Dash to address limitations in Bitcoin around speed of transactions and governance.

1. Dash Crypto
Provided for E-commerce security course
Tarbiat Modares university
Presented by :
Mohammadreza Teymuri
Professor :
Dr. Sadegh Dorri Nogoorani
Second semester 1397-98
28 ordibehesht 1398
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2. What I want to present ?
 First : short introduction about Dash cryptocurrency
 Second : what is the motivation of founders ?
 Third : what is the architecture and backend of
Dash ?
 Forth : Features that are unique to Dash
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3. What is Dash ?
 Wikipedia says : “Dash is an open source cryptocurrency
and is a form of decentralized autonomous organization
(DAO) run by a subset of users, called "masternodes".”
 January 2014 – Xcoin by Evan Duffield
 Pump and Dump speculation
 Darkcoin – used in dark net markets
 March 2015 - Dash
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4. What is Dash ?
 April 2018 – market cap around $5.4 billion
 February 2019 – Der Spiegel
 Most popular cryptocurrency in Venezuela
 Hard cap : 18 million coins
 10% mined fist two days after lunch
 Variable block reward : 7.1% decreases every year
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5. Motivation for founders
 Transactions Quickly
 Swift governance structure
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6. Architecture and backend
 Handled through a form of DAO on blockchain via
masternodes
 Masternodes functions :
 Hosting a copy of the blockchain
 Relaying messages
 Validating transactions on the network
 Along with masternodes, the system includes standard
nodes and miners.
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7. Architecture and backend
 How to be a masternode ? Require 1000 dash
 The small group have more power in decisions
 Because allowing too many coins being distributed at release
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8. Architecture and backend – Consensus
 2018 – PoW algorithm with a hash function
 Called X11 (11 round for hashing)
 Average time to mine
 2.5 min – 4 times faster than bitcoin
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9. Architecture and backend – Transactions
 InstantSend
 Bypasses mining
 Requires a consensus of masternodes to validate a transaction
 PrivateSend
 Make transactions untraceable
 Mixes participating users unspent dash before executing a
transaction
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10. DASH USECASE
 A payment company, Alt Thirty Six (Alternative 36,inc.)
began offering electronic payments in dash for companies
in the legal cannabis industry in the US.
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11. Special features of Dash
#1 Masternodes
 Like Full nodes in bitcoin
 Secondary network : Dash Masternode network
 High availability
 Required level of service to the network in order to take part in
the Masternode Reward Program
 following a proof of service algorithm
 45% of the block reward
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12. Special features of Dash
#2 PrivateSend
 In short, PrivateSend maintains fungibility by swapping
coins among users to break the traceable history of the
coins.
 CoinJoin
 PrivateSend adds privacy to transactions by adding
multiple identical inputs from a lot of users and then
sending them to multiple outputs.
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13. CoinJoin 13

14. PrivateSend Operation
 “PrivateSend uses the fact that a transaction can be
formed by multiple parties and made out to multiple parties
to merge funds together in a way where they cannot be
uncoupled thereafter. Given that all PrivateSend
transactions are setup for users to pay themselves, the
system is highly secure against theft and users coins
always remain safe. Currently to mix using PrivateSend
requires at least three participants.”
 Dash Whitepaper
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15. Special features of Dash
#2 PrivateSend
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16. Special features of Dash
#3 InstantSend
 Provide speed
 Every time a block is mined in Dash, the miner sends the
hash of the block. The hash of the block is used to select
a quorum of masternodes. 10 masternodes are in one
quorum.
 The quorum, between now and the time that the next
block is mined (~2.5 mins), becomes the “InstantSend
authority” of the Dash Network.
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17. Special features of Dash
#3 InstantSend
 suppose Alice wants to send Bob 1 DASH via
InstantSend, the selected quorum will lock in the inputs of
the transaction and broadcast the input details.
 ensures that double spending is prevented.
 Both the sender and the receiver then receive 5
confirmations of the transaction within a second which
ensures that the transaction has gone through
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18. Dash charts 18

19. Question ?
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20. Refrences
 https://blockgeeks.com/guides/what-is-dash/
 https://github.com/dashpay/dash/wiki/Whitepaper
 https://en.wikipedia.org/wiki/Dash_(cryptocurrency)
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