Dash is a Bitcoin-derived, proof-of-work cryptocurrency launched in January 2014 that prioritizes fast payments, low transaction costs, and optional privacy features. Unlike Bitcoin's single-layer architecture, Dash operates a two-tier network combining traditional miners with an incentivized layer of specialized nodes called masternodes, which provide transaction locking, privacy services, governance, and additional security enhancements. The network's official positioning is "digital cash" rather than a general-purpose smart contract platform.