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Difference between DASH and Bitcoin

  • Bitcoin takes too much time to be accepted in point-of-sale(POS) application due the requirement for the network to varify the transactions.
  • Dash is based on the work of Satoshi Nakamoto with built-in privacy functions.

Dash Masternode Network

  • Full node servers running P2P networks receieve updates and events about the network.
  • The new reward scheme has been proposed Microsoft Research and Bitnodes incentive program.
  • Nodes provide the network with the ability to synchronize and fast broadcast messages throughout the network.
  • Dash masternodes have high availability and provide the standard amount of service needed to the network to take part in the masternode reward program.
  • Masternodes are full nodes, just like the bitcoin network but the owner of the node must provide a standard of service and and a collateral to participate.
  • The operator must have control over 1000 DASH should be online to provide service.
  • Masternodes are all paid from the block reward program, 45% of all DASH is dedicated to this program.
  • The reward for a particular day can be calculated using the formula (n/t)rb*a

    Where:

  • n is the number of masternodes an operator controls

  • t is the total number of masternodes

  • r is the current block reward (presently averaging about 3.3 DASH)

  • b is blocks in an average day. For the Dash network this usually is 576.

  • a is the average masternode payment (45% of the average block reward)

Deterministic ordering

  • A special algorithm is used to create a pseudo-random ordering of the masternodes.
  • This is done so every masternode as a random chance of being selected to verify the transactions

Trustless Quorums

  • Let us assume the dash network has 4800 active masternodes.
  • Each masternode as a collateral of 1000 DASH, which means 4,800,000 DASH is collateral.
  • To control the Dash network an attacker would need to buy 1000 DASH on the open market. Buying this amount is almost impossible as the price would also increase linearly.
  • There is also the pseudo-random order generator which does not guarantee the transactions validated will be from the attackers node.

Masternode Protocol

  • The status of the node is broadcasted to the network using protocols.
  • Only two messages are needed to activate your Masternode:
  • Masternode Announce Message
  • Masternode Ping Message
  • Other messages are proof-of-service message, PrivateSend,and InstantSend.
  • Masternodes are formed by having 1000 DASH in a single address in the Dash wallet and will make it capable of being propagated across the network.
  • A secondary private key is used henceforth for signing.

Cold mode

  • Cold mode is possible by using the secondary private key on two different machines
  • The “hot client”, the machine holding the 1000 DASH, signs the 1000 DASH input including the secondary key in the message.
  • The “Cold client” see the message which includes the secondary key and activates as a masternode.
  • Now the “hot client” can deactivate and leaves no possibility of an attacker gaining access to the masternode.
  • When a masternode is started it sends a “Masternode Announce” message to the network.Message: (1K DASH Input, Reachable IP Address, Signature, Signature Time, 1K Dash Public Key, Secondary Public Key, Donation Public Key, Donation Percentage)
  • After that a ping message is broadcasted proving the node is still alive. Message: (1K DASH Input, Signature (using secondary key), Signature Time, Stop)

PrivateSend

  • Dash believes in a standard teustless implmentation to improve privacy.
  • PrivateSend is an extended version of the CoinJoin by employing a series of improvements such as decentralization, strong anonymity by using a chaining approach, denominations and passive ahead-of-time mixing.
  • Lets say 0.5 BTC was sent. Private send will break apart the transaction to, for example, 0.3+0.19+0.01=0.5
  • The more transactions going through the mixer exponentially increases the difficulty
  • These sessions though can be de-anonymized at any point in the future.

InstantSend

  • Using masternode Quorums, users can receive confirmations DASH instantly.
  • Once there is a quorum, the transaction is locked and can only be spent on that transaction. This transaction lock takes around 1-2 seconds.
  • This feature allows point-of-sale applications and also face-to-face transaction.

Dash Updates/Improvements

Click here for the article with better formatting.

Let me know me if I forgot something important. Crititsm is appriciated!

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Guys,

Is it possible to restore a wallet with the automatic made backups? I've tried to replace the old wallet.dat a few times with the backups but didn't succeed.

The balance stays on zero when the wallet is loaded and synced.

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Posted byDash Nation Founder1 day ago

Adam Kokesh's defence after being insinuated as a scammer.

Hi all.

Recently, there was a post on this sub by someone who was not happy with the lack of action from a particular proposal owner (Adam Kokesh). That in itself would have been fine, however this particular poster took it a bit too far with some rhetoric insinuating that Dash is continuing to fund scammers in this situation.

Now, of course, this is speculation as fact, as the poster did not have all of the adequate information to make such a claim, so in accordance with Dash Nation rules I deleted the thread.

This had the unfortunate side effect of also deleting a rebuttal post by this proposal owner. As he has a right for his side of the story to come out, I have taken a screenshot of his post above.

Please be aware that Dash Nation rules of treating people with respect, no offensive language and no speculation as fact are in effect each day here on r/Dashpay. Because of this, this sub has become a nicer place to be for collaboration and communication, and an attractive place for newcomers to come and find out about digital cash.

It's really not beneficial to the community to jump to speculative conclusions about other people's intentions and post such as fact. It's far better to air your concerns, and give the people on the other side a chance to respond, before jumping to conclusions.

We are breaking new ground here with amazing decentralized monetary technology, fantastic team, and a wonderful community. Let's strive to live our values each day, and we will be all the better for it.

Cheers,

Tao Of Satoshi

Dash Nation Founder and Dash Forums Moderator

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9 comments
6

What DASH wallets support sends to P2SH addresses?

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1 comment
5

Professor Sirer claims "Avalanche" is a new (better) family of consensus protocols.

Article: https://www.coindesk.com/emin-gun-sirer-unveils-simple-yet-powerful-consensus-protocol/

Video: https://www.youtube.com/watch?v=AXrrqtFlGow

The main benefit seems to be that it's much much more efficient and scalable, yet still secure.

A couple things sound interesting:

  1. "Egalitarian system" - there's no separate miners and users. Also recognizes the importance of "Governance" i.e. you can "poll" the users (holders) of the coin for what they want, similar to Dash.

  2. The protocol can be used with UTXO outputs of existing protocols, or could be layered on top an existing protocol (?). So basically Dash could "upgrade" to this protocol and keep existing holders' balances. This might be interesting if it proves to be superior, and we already have the existing governance mechanism to decide on it.

It was announced 4 months ago, but not sure what the "consensus" is on this yet. Any comments?

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When setting up a node and adding the configuration line to masternode.conf, I've heard rumor that it's possible to append a receiving address after the output index and the masternode rewards will be direct to that address. Is there any truth to this?

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3 comments
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