DASH in a Nutshell

what’s up everyone my name is Michael and welcome to box mining today I want to talk about – there’s no cash I was talking about the key features of – namely master notes instance and private cent and its future as well – evolution so I’m gonna talk about these key features and kind of break them down in this video so first let’s talk about how – is trying to be digital cash well it’s based off blockchain Bitcoin technology but with a few differences namely faster block rates large blocks and also something called master nodes so nodes on the Bitcoin network are responsible for relaying transaction information for example if I send some Bitcoin to you I can broadcast their single node and the node will distribute that information around to the whole network so everyone gets the same transaction information they’re also responsible so that the miners get that information and they can put them into blocks and make a recorder into a ledger master nodes on the dash network are very much like the quaint notes but with one additional feature they have a deposit of 1000 dash on them so the deposit does that – must not be moved from the master node else a master node will stop the function and the idea behind that is though that the master node can is now staking the network and they’re responsible and if they’re not responsible they don’t behave responsibly then that 1,000 dash can be revoked and it can be just removed by the network so now there’s a financial incentive to behave properly well now master nodes have a few additional features they are now responsible for two additional features on – one of them being instant and the other being private sent so instances is exactly what the name implies it allows an instant approval of a transaction on the network by the masternode network and that wait the transaction can instantly be assumed to be confirmed that we don’t have to wait for your 600 or 3 confirmations that saving you time and making sure it behaves more like digital cash next thing is private set privates in is what the name implies as well it allows you to retain some privacy when sending your coin however there are some limitations the mechanic behind privacy coin is such that you must send the point amount in very designated amount so for example 0.5 – you can’t send 0.6 but you can send in these kind of multiples of 0.5 the reason for this is it uses the mechanism called coin joint it finds people who are sending similar amounts of – exacts and then it kind of mixes and matches and tumbles it together so now there’s a confusion as to exactly where it came from and I can coin joint between different addresses and that’s why it takes a little bit of time to do a private send it might take six hours or 12 hours or even three days depending on how many times you want it to be tumbled around so these are the two key features that – brings on a table and multi-and masternodes help with this but there’s also additional functions of Master nodes as well and that’s with the – dowel so one interesting thing about how Dash is designed is that in this design instead of just giving all the miners flock rewards and network rewards – splits that between master node owners miners and the – down so what is the – down now is a decentralized autonomous organization so this is an organization formed by a kind of like a computer and it’s done by a voting process so master node owners not only do this help secure their network but they’re also responsible for voting for proposals that are proposed on a – network so every month a certain amount of – is to be allocated by the master nodes in the Dell and what it does is this allows funding for various – projects so first of all first and foremost of course there’s – core the core team responsible for designing and improving technological improvements on – but there’s also 12 community projects as well for example there’s community projects to put – ATMs out in the wild in real-life locations or even – meetups – meetings or other – sponsoring events like the Max Keiser event where they are sending a sponsoring Max Keiser to go around America so the – tile actually has quite a lot of money right now because of the amount because of the price of – and how fast is rising there’s almost around two million dollars that needs to be distributed every month and that’s what makes – interesting because now with that budget and can go for advertising programs or different programs of push – forward so that’s kind of what the – now is is a proposal system and the masternode owners get a vote so if you have one masternode you have one vote and then you have ten you have ten volts so there’s now an incentive to own more Nesta master notes if you want to have more say in the – network – has kept going through various rebrandings first x coin dark coin and then now – and its original inception there was a little bit of controversy where – was open but not mine a bull by the community by the public but rather the creator got to – to the point this is very akin to how I SEOs work nowadays so instead of just distributing – to the community as a whole that on creator gets a little bit of work so the controversy is that Evan got a little bit more extra – but in a way that helps – move forward because now the project and the core is more funded in terms of the future development of – it takes a different direction from Bitcoin so Bitcoin is all about limiting the block size and – is about saying guess what we can do big blocks so the reason behind this is that they’re trying to do a trade-off the trade-off is that with bigger blocks you get faster transactions and less fee at the trade-off of larger blockchain so because the blockchain is kept forever this small size is gonna be a bigger and bigger – is dealing with that in a unique way as well they’re creating a department called – labs which is meant to design custom hardware for master node owners that way they can keep these large blocks and be able to access them very quickly and there’s a future requirement that the master nodes will have the hardware capacity to actually deal with our transactions so they’re taking a completely different approach and I think that’s good for the community as well by offering this different alternative to small block sizes we have large block sizes and customer hardware to go along with that so that is the direction of – and it’s one of the things I always say about Bitcoin caches why not just go for – if you’re going for different cash because not only is it getting larger block sizes but it’s gonna have additional features such as advanced our instance then and private set so guys what do you guys think about – leave them in comments below I’d love to hear them and as always remember to subscribe to my channel and be part of that notification squad guys thanks for watching see you next time

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.