Use of Dash Coin in e-Commerce:
At Dash’s core is a unique fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain and master nodes are rewarded for validating, storing and serving the blockchain to users. Master nodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks.
Current crypto foundations are not related to the currency itself by any mechanism that is included in the protocol and are not designed to outlive early adopters when they lose interest. The foundation then struggles to get funding until it implodes and core development of the protocol is left scrambling for funding or depending on charity that can’t be counted on and does not allow for proper budgeting and planning. Donations are also unfair to donors because there are always free riders that benefit from the effort done by others without contributing. Other projects have financed themselves pre mining coins or doing pre launch sales, which is not a great solution either because control of the funds is centralized or at that stage it is impossible to quantify the future needs of the project. Through the network of full nodes and the collateral requirement, Dash coin already counts with a decentralized network of masternode operators that are invested in the future of the currency and that as a group can act as stewards of the core protocol development and promotion. We propose a decentralized management system based on the masternode voting mechanism. Masternode operators are not the only ones interested in the success of Dash commerce, but they are the most stable ones because, unlike miners, they can’t reuse their asset for any other purpose or coin.
How this decentralize currency work e-commerce customers and merchants:
• This is a 100% decentralized system powered by the masternodes, where budgets are set and paid directly from the blockchain. The blockchain could hire core developers this way and introduce a new concept of paid blockchain contractors, where people work for and are directly compensated by the network, through the decentralized votes of all masternode operators.
• One advantage of this model is it can survive early adopters. If early masternode operators sell their coins, the new owner can set up a masternode and with it acquires the right to vote on the budgets and projects. This guarantees there is a working system of maintenance as people come and go, making the network capable of sustaining itself on its own without depending on specific actors.
• In respect to set Budget - The system works as a decentralized voting mechanism setup in the software, where budgets for specific projects are proposed, and then the masternodes as a whole vote on them. Each project, if it passes, is added to the total budget and paid directly from the blockchain to the person doing the work. With this, we can hire core developers and pay them directly after approval of the work in a decentralized fashion oh Dash coin commerce.
After a period of time, we should have a strong team of productive paid contractors paid from the blockchain rewards. This should create a lot of value for us as we should have a very stable network; with faster implementation of core services that will make Dash commerce successful.
Dash coin - future uses:
Eventually we’ll have many blockchain contractors. At this point team leaders would be elected as blockchain contractors to manage larger decentralized projects in the department depending on their current needs.
The project would put the power of determining where Dash commerce goes in the future to the Masternode network itself. Later in the future, I see most of the core development and other projects that we didn’t even think of funded through this model. The ecosystem should be stable and growing without our help at all. That is the idea, that the blockchain could support itself regardless of the specific people involved even decades from now, is a decentralized management system built to outlive its original users, a self sustainable decentralized cryptocurrency (Dash-Coin) network that can still operate cohesively and bring added value services to end users in a consistent way. This model could be really innovative and allow crowd funded peer to peer efforts to compete on a global scale with projects that are very well funded.
Conclusion – In respect of e-Commerce:
Every masternode operator establishes a bond of trust and a social contract with the network in which he is bound to contribute to the development and maintenance of the ecosystem he benefits from. Under this model, a portion of the funds that the operator is bound to receive are given to him in custody, not in ownership, and are held in escrow by the network to be executed by the operators for the benefit of the ecosystem. Everyone contributes equally and proportionately to the benefits they are receiving and the risks they are taking, there are no privileges and no loop-holes. This is complemented by the full node voting mechanism that allows for a distributed group to vote on a continuous basis on practical matters without the need to forfeit their right to decide to others, every few years, like with traditional governments or cooperative corporations. Some oversight will be needed for the blockchain contractors. Each budgeted item will require either a team manager or a committee. Periodically the managers will write what the person being paid is working on and show the value created from the funds that were allocated.
We envision a future in which this model of (Dash Coin) transparent, unbreakable and verifiable contribution to the common good, in combination with continuous participation of the crowd through active voting, is utilized to manage organizations that are owned or ran jointly by its members, who share the benefits and responsibilities of those collectives, like governments, cooperative corporations, unions, DAOs, crypto-currencies, etc. We are calling this model, decentralized governance by blockchain. In Coming future of currency which will increase the using on e-Commerce platform, though Dash commerce.
