Last weekend, Dash became the first digital currency that does not keep the word bitcoin in its name, breaking through the barrier of 1'000 dollars.
Dash began in 2017 with a mark of $ 11.26, while its price at the time of printing is $ 1,226, in other words, the currency has grown 108 times this year. In fact, even the huge growth of Ethereum in percentage terms is less than Dash.
Governance and budget
Management has become a hot topic in the world of digital currency after the notorious debates around bitcoin. Dash allows owners of 1'000 DASH to create a special node called masnode ( masternode), and owners of master classes get the right to vote on the future direction of currency development. Owners of the workshop can also vote for the distribution of the monthly budget Dash.
Ten percent of each fee per block is reserved for financing projects approved by the owner's master network. Such projects can take many forms if they somehow promote the Dash ecosystem.Therefore, Dash can afford to hire a large team of developers, while implementing projects such as integrating sales points Alt36.
At current prices, Dash has a monthly budget of $ 8 million, based on an annual budget of almost $ 100 million. While Ethereum and several ICO projects have large strategic reserves, no other crypto currency project has such a large periodic budget.
Advantages of network blocks
Dash also reported on its recent activation of blocks of 2 MB. Unlike Bitcoin and Ethereum, Dash forms the solution for direct scaling of its own blockbuster. While the two largest digital currencies are pursuing scale-up solutions using networks, the Network Lightning Network and the Raiden Network, respectively, Dash strives to store all transaction data in its own blockroom.
This is made possible by the fact that each master Dash, which is only 4600, contains a complete copy of the blockbuster and performs other services for the network. In compensation, each owner of the mastrenoda is paid a reward of 45% of the cost of the found block Dash . At current prices, Dash is about $ 8'300 per month. Since masternods receive such big rewards, their owners can afford high-quality VPS-servers with high bandwidth.
Eventually, the founder of the network Evan Duffield believes that Dash will use super-large blocks, possibly up to 1 GB each. Such massive blocks require that master craftsmen work on expensive specialized equipment and allow the network to support millions - or tens of millions - of users.
Duffield writes:
Even Satoshi Nakamoto, the founder of bitcoin, seems to have simply assumed that advances in hardware and networks will solve the problem of network scalability. Dash is the first digital currency to offer a response to scalability that is not based on technology that does not yet exist and can never exist. Dash will be able to compete with such systems as PayPal and VISA, simply using the existing infrastructure.
Research
About a year ago, Duffield handed over the leadership of the main development team to the current general manager Ryan Taylor. Since then, Duffield has used his own Dash reserves to fund a new organization called Dash Labs, which is currently exploring scaling and custom hardware solutions. The University of Arizona is also conducting research on how to improve the Dash network. At the beginning of this year, the master classes financed the university's research fund.
Make it easy
Despite the calls of the community to use budget funds to promote the project, the development team is reluctant to promote the project. Currently, the team is working on the next Dash update, called Dash Evolution. This new software is designed to make the digital currency so simple that "your grandmother could use it." Developers of Dash strive for the experience of PayPal, creating "something simple and intuitive".
The current roadmap Dash assumes that the Evolution update will be launched in the summer of 2018.