Dash is raising funds to build a blockchain-based smart contract platform to provide a more secure, trustless, and efficient way to create and execute smart contracts.
The coin, which launched in 2014, aims to be the “future of decentralized exchanges”, according to Dash Co-Founder and CEO Jan Dawson.
The startup aims to build on the existing cryptocurrency ecosystem, and the underlying technology underlying it, such as blockchain technology, smart contracts, smart-contracts contracts, blockchain and smart contracts platform, and Ethereum.
Dash has raised $5 million in seed capital from Sequoca Capital, a venture capital firm that has been working on projects for over a decade.
According to Dawson, the startup has raised its first round of funding, valued at $5m.
He also said the company plans to hire 10 people, which will be funded from the funds raised by the first round.
The company has already raised funding from the likes of Andreessen Horowitz, Benchmark Capital, Greylock Partners, and SV Angel.
Dash is currently raising $2.7 million, of which the company has raised over $2m in its first two rounds, Dawson said.
He added that the startup will use the $2 million in funds to ramp up development of the product, improve marketing, and grow the product’s user base.
“Dash is a decentralized exchange that will be used by a huge range of users including individuals, businesses, governments, and even corporations,” Dawson said in a statement.
“We want to build the infrastructure for users to transact with Dash, and build the technology to create contracts for Dash to execute.
We believe that Dash can be the next cryptocurrency that is a viable alternative to Bitcoin.”
Dawson said that the company will be focusing on its product and its user base, rather than on competing with bitcoin.
Dhavn Singh, the co-founder of Sequoias Venture Capital, said that Dash is a better alternative to bitcoin, which he said has many of the same problems as bitcoin, including an inability to secure its transactions.
“Dhavaocoin is not a cryptocurrency that can compete with bitcoin,” Singh told CoinDesk.
“Dhaval is doing what he can to make sure that it is not.”
Singh said that there are several reasons why Dash is more secure than bitcoin.
Dash’s blockchain, for example, is more transparent, faster, and has more nodes to verify transactions.
According a blog post by Sequoians founder and CEO Peter Rive, the blockchain technology has been under development since the start of 2017, but the company’s development efforts have been focused on a handful of key areas.
The team at Sequoius has been investing in a variety of projects to build their products, including in areas such as the cryptocurrency market, blockchain security, smart contract technology, and blockchain technology.
Sequoios’ investment in Dash comes at a time when blockchain is under the spotlight as the tech has become more relevant to the modern economy.
Sequoias Capital was founded by Sequosy co-founders and former co-CEO John Draper.