Welcome to another Project Rundown Interview on The Capital. Today our Co-founder Stefan will be interviewing Ryan from Dash, who we have been wanting to interview for a long time. We hope all of you will learn something new and enjoy this interview. Let’s get started!
Hey Ryan! Thank you for taking the time to educate us and our readers on Dash. First of all, please give us an introduction to Dash? We would also like to know why Dash was created, and why there is a need for a project like Dash?
Dash is a digital currency that focuses on payments. Transactions are instant and feature low fees and optional privacy. Dash’s founder — Evan Duffield — proposed a number of ideas to improve Bitcoin to make it more scalable and private, but the core developers weren’t responsive to his ideas. He decided the best path forward was to launch a currency from scratch to experiment and prove his ideas.
So going forth into 2020 and beyond, how will your project make an impact in the crypto space, or on the world?
Dash is already having a tremendous impact and growing adoption quickly in multiple markets. Our fastest growth is in Venezuela, where Dash is solving real-world financial challenges for users. We have been achieving new transaction activity records every quarter for the past year, so it’s been exciting to witness the growth. This year, we’re launching new products aimed at making Dash easier to use, including a new application called Dashpay, which allows users to interact via user names, rather than cryptographic addresses. We believe that if you make the network easier to use, our growth in places like Venezuela will only accelerate.
Thank you Ryan! Now, could you tell us more about the largest accomplishments in the history of the project so far?
I think there are a few defining characteristics of Dash that have allowed it to stay competitive year after year as a top currency. The first is that Dash invented the masternode, a technology that has been incorporated into hundreds of other projects. Masternodes enable many of the other technologies that differentiate Dash, including our governance system, our user-facing InstantSend, and PrivateSend features, and ChainLocks. ChainLocks are a revolutionary new way to make our blockchain instantly immutable and eliminate the threat of certain types of attacks to which Bitcoin and other proof-of-work chains are vulnerable.
That’s some great achivements. Now, give us a quick rundown of the future of the project. For example, what are you seeking to bring to life and what will it mean for the overall project?
We have the biggest upgrade to our network currently in testing called Dash Platform. It is a new product that enables entirely new use cases by arming developers with tools — such as software development kits and APIs — to easily create applications that run on the Dash network. Applications will be able to store their data in the network itself and interact with that data. That could mean an invoicing application that records invoice and payment data, such as purchase order numbers, invoice numbers, bills of lading, or other information useful to both parties. And the data will be accessible through standard APIs and protocols, making it easy to integrate existing legacy applications. Dash Platform is really about extending the capabilities of the network to enhance the payment experience in new ways.
What is the most noticeable thing about your project? Perhaps it can be something you developed or something you achieved.
I really believe that the people involved with the Dash project are top-notch. Our developers are innovative and pragmatic. We have a culture — not just within Dash Core Group, but the entire community — of solving real problems rather than hyping the price. That work ethic, professionalism, and culture help us to remain a top currency year after year.
Tell us about your team. Who’re the people behind the screens?
Dash Core Group is primarily responsible for the software and project infrastructure like websites and documentation, so most of the team is technical led by our CTO Bob Carroll. He is a strong people leader with experience in a variety of different technologies. We also have several smaller teams dedicated to marketing, business development, operations, and product management.
Besides Dash Core Group, there are many other entities that serve the network, including the Dash Investment Foundation and many teams around the world aiming for adoption in local markets. Those organizations include many outstanding leaders that understand local needs and bring boot-on-the-ground capabilities that other projects would dream to have.
Which partnerships have you engaged in so far, and which ones are the most impactful?
Dash is all about usability for average consumers, so we are especially excited about partnerships with companies that understand the importance of that. Uphold has been such a great partner for us because, like Dash, they focus on great user experience. We’ve even integrated Uphold directly into our mobile wallets to enable users to easily acquire Dash and transfer it to their wallets to use. They also are a leading choice for merchants that want to accept Dash and transfer the value to their local currency and bank account easily.
Do you attend any events or conferences?
Although we participate in many of the largest crypto conferences each year, we actually get the most value from payments-related conferences. As a payments-oriented project, we find our best partnerships are integrating with other payment solutions, such as point-of-sale integrations, to make Dash more relevant in the real world.
Now on a more technical side of things, what are the coin metrics of Dash, and how do these lead to a stable and balanced system?
Dash has a very low maximum supply of fewer than 19 million coins. This makes Dash extremely scarce compared to other cryptocurrencies. It also reduces the supply created every year by a small amount, rather than reducing by 50% every 4 years like Bitcoin or Litecoin. This smooths out the distribution and makes those events less jarring to the currency. There are many clever ways that Dash creates a stable environment with much more complex incentive systems that other currencies, so it’s impossible to cover it all in a short answer, but I encourage readers to check out the website for details on how masternodes, proposals, voting, and fees operate on the network.
If people would like to follow Dash on your social media pages, visit your website or read your important documents like your white paper, what are the links they need to visit? Please list them below.
The hub for all of that information is dash.org. There you can find links to our community channels, documentation, wallets, and learning resources.
Thank you so much for your time Ryan, and thank you for educating our community about Dash! Do you have anything to add before we finish?
Thank you very much for the opportunity. There are many great ways to get involved with Dash, so I invite everyone to check out the website and learn more about the impact we’re having in the space and the real world!