Kuvacash is Using Dash
Dash is a globally traded digital currency that offers secure, instant, and private transactions for users
Why are we using Dash?
Instant Send is a Dash innovation that enables users to make instant transactions, unlike some other digital currencies, where transactions can take up to an hour and fees can be very high. In the Dash system, a second tier network of “masternodes” receive a recurring set of rewards (45% of all mined coins) in return for running key functions for the network. The masternodes are randomly delegated to validate transactions instantly – ensuring irreversibility and preventing double spending – while the transactions are confirmed on the Dash blockchain. Instant Send is a critical differentiator that will enable adoption of Kuvacash on the ground in target markets where alternatives are inefficient and costly.
THE DASH DAO
Dash has a unique governance and funding model that balances competing incentives while supporting projects that expand the adoption of Dash globally. Dash has continuous funding through its Decentralized Autonomous Organization (DAO), which retains 10% of all mined coins. At a price of $500 per Dash, this is a budget of around $2MM-$3MM per month. Every month the Dash masternodes vote to grant some, all, or none of this budget to initiatives that promote the use of Dash, via software developers, marketers, advocates, as well as strategic projects, like Kuvacash. Dash masternodes are collateralized (holding at least 1000 Dash), meaning they are more likely to behave well.
Kuvacash and Dash
Kuvacash is one of Dash’s key strategic partnerships. To date, Kuvacash has received two rounds of funding from the Dash DAO, totaling 2317 Dash. As a reflection of this partnership, Kuvacash provides regular updates to the Dash masternodes and the wider Dash ecosystem. In addition, Dash will be co-presenting with Kuvacash at MoneyConf in Dublin in June 2018.