1.Basic concept

Dash was founded in 2013 by Evan Duffield. It was originally called Darkcoin. It was renamed DASH after March 2015. It is an online operation that supports instant. A digital currency that is traded for the purpose of protecting user privacy. Based on Bitcoin, the unique two-tier network enables more comprehensive testing and updates. As with cash, Dash can effectively protect your financial privacy during the transaction process. When using Bitcoin, the transaction is written to the blockchain and you can query both the receiving and sending sides. However, Dash has made it impossible to track the transaction through anonymous technology. Anonymous technology is extremely important—because any network user can access the blockchain to view transactions, which is unfortunate for users who do not want to expose transaction records and financial privacy. Dash confuses transactions through the original decentralized web server “master node” to achieve anonymity. No need for third parties, effectively avoiding the instability caused by third-party intervention.

2.Design ideas

The essence of Dash is actually a special solution generated by a bunch of complex algorithms. The special solution is that the system of equations can get an infinite number of (in fact, the bitcoin is a finite number) solution, and each special solution can solve the equation and is unique. In the analogy of the renminbi, Dash is the serial number of the renminbi. You know the serial number on a certain banknote, and you own the banknote. The process of mining is to seek a special solution of this equation by a huge amount of calculation. This equation is designed to have only 22 million special solutions, so the upper limit of Bitcoin is 22 million. Thanks to Dash’s reward mechanism, its network master node has grown to 4,100 since its release in 2014, which means that Dash P2P network has become one of the largest networks in the world.

3.Characteristics of Dash

1.Immediacy

Cherish your precious time. Instant payment can be confirmed within one second.

2.privacy

Protect your financial information. The Privacy Send feature ensures the privacy of your financial activity records and financial balance information.

3.security

Reliable security. The transaction is confirmed by the X11 ASIC mining machine with 1,000G computing power and more than 4,100 servers worldwide.

Fourth, the advantages of Dash

1. Next-generation P2P network

Dash is described by some as a two-tier network that relies on miners and master nodes. The Dash core is made up of a unique incentive P2P network, which is protected by the workload proof mining (community mechanism used by Bitcoin) and it is based on 11 different hashes. The X11 algorithm of the function. Dash’s block rewards are divided into two layers: miners and master nodes. Miners are rewarded for maintaining blockchain security, while master node holders are rewarded for verifying transactions, storing data, and providing multiple services. These nodes act as both transaction mixers and boosters. The master node is a proof-of-service layer that represents a new level of network that can form a highly secure cluster-arbitration chain that provides multiple types of decentralized services such as instant transactions and anonymity. , decentralized management and so on. It also prevents low-cost cyber attacks.

2. The world’s first system to manage autonomy and self-sufficiency

Everyone has the right to submit a project proposal directly to the Dash. Any proposal that contributes to the development of Dash, such as marketing and R&D, may be funded. That is, Dash is its own Development and application promotion capital injection, thus ensuring the achievement of network consensus and the reliability of network users.

3. The fastest growing network in the world

Dash’s unique reward mechanism: miners receive a 45% return, the main node receives 45%, and the remaining 10% is allocated to the decentralized Dash budget system. This kind of distribution solves the problem that the bitcoin-like currency is easy to be full of nodes and slips to the centralization. It also solves the problem that the initial money is exhausted and the lack of developmental strength is solved after the private currency IPO. In addition, the system can also be used as a voting mechanism for the Dash Management System, allowing users to vote for resources, such as for development, marketing or other purposes. Thanks to this mechanism, its network master node has grown to 4,100 since its release in 2014, which means that Dash P2P network has become one of the largest networks in the world. More nodes mean higher security performance. , Dash can provide all-weather digital currency services to more end users from all over the world.

4. Digital Currency Evolution

Evolution is committed to creating an easy-to-use digital currency that non-technical elites can also operate. Anyone can set up an account on the blockchain, create contacts, and pay them by name. Payments made via web or mobile phone will be very simple, all you need to do is a click.

For consumers, with Evolution, anyone can communicate directly with merchants, buy their goods or services, or initiate an automatic debit subscription payment service. At the same time, any merchants that have partnered with Dash can be retrieved on the blockchain and credited to them so that the entire community can understand the quality of their goods and services. For merchants, Dash Payments can be added to web or mobile apps in minutes with a simple decentralized API. You don’t have to rely on complex equipment or third parties to handle customer payments, all you need to do is establish a direct contact with the customer through the blockchain.

Evolution will also introduce a new light wallet. It also has SPV security and browser compatibility, and it is also connected to our P2P network of more than 4,000 nodes. The Dash team will use it to build the cryptocurrency currency that everyone will use. Dash Evolution can help you log in to the Dashnet network from any device and easily complete the transaction. It’s similar to PayPal, but completely decentralized.

In the end, 2019 is the first year of blockchain development. The future blockchain will be a new development trend. If you miss this enthusiasm, you will miss the Internet era, miss e-commerce, and miss the era of micro-business. Again, once again miss the entire blockchain era.

Final summary:

1. About the development of blockchain: The short-term is the underlying technology, the medium-term is the application scenario, and the long-term is the transformation of society.
2. Regarding the blockchain participation parties: the currency circle sees the traffic, the chain circle sees the consensus, and the metaphysical circle sees the revolution.
3. How to transform the community in the blockchain: short-term is the certificate and incentive, the medium term is the currency and the economy, and the long-term is the society.
4. on the application of landing: the early period is the bitcoin and speculative tools, the short-term is the public chain, the medium-term is light application, long-term de-mediation scene.
5. on the speculative currency: long-term population, medium and long-term supply and demand, short-term supervision.
6. on the nature of the blockchain: one side is technology, one side is the pass, one side is the community, the chain currency community is not separated.
7. About the technical model: look at the consensus mechanism in the short term, look at the operating system in the medium term, and look at the DAPP ecosystem in the long run.
8. About the certificate model: short-term look at the listing of the currency, the medium-term look at the total mechanism, the long-term ecological use, and ultimately the balance of interests of all parties involved in the certification economy.
9. About community governance: short-term self-care, medium-term community politics, long-term code rule.
10. About the community of the pass-through community: It used to be a company system. Now there are non-profit organizations. In the future, it is a pass-through community. The ultimate is the free association of people.