Everyone who is anyone is talking about bitcoin and cryptocurrencies. However, while it is true that Bitcoin happens to be a fine example of a decentralized, peer-to-peer currency when it comes to privacy, it doesn’t really match up now does it? Along with privacy, the transaction confirmation times in Bitcoin are SO high that it is extremely impractical for day-to-day transaction purposes.
If you pay the lowest possible transaction fees, then you will have to wait for a median time of 13 mins for your transaction to go through. Evan Duffield realized that this was extremely problematic and thought of a solution.
Evan Duffield came across Bitcoin in 2010 and was extremely impressed by the technology, however, he was not that enthused about the slow transaction speed and the lack of privacy.
He had numerous ideas on how to make Bitcoin function better but the Bitcoin core members would never allow him to do that since that would mean changing the core’s code.
This is why, he decided to use the Core code and make his own cryptocurrency on January 18, 2014.
Dash was formerly called Xcoin which later on became “DarkCoin”. It was eventually rebranded to Dash which is a portmanteau of “Digital Cash”.