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Dash(digital cash)

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A brief overview of Dash(Digital Cash). The presentation covers the main Dash functionalities as well as future plans and development.

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Dash(digital cash)

  1. 1. BlockchainHub Graz BlockchainHub ■ Valentin Kalinov ■ April 24, 2017 1
  2. 2. Contents ● History ● What is DASH? ● Masternodes ○ What are masternodes? ○ Masternodes and the block reward ○ Masternode network stats ● Private Send ● Instant Transactions ● Governance ○ The Treasury ○ Submitting a Proposal ○ Voting ○ Budget finalizing ● Dash Evolution and the Block Re 2
  3. 3. History ● Dash was born in February 2014 ● ● Founder of DASH is Evan Duffield ● ● Originally named Darkcoin ● ● Rebranding to DASH: Mach 25, 2015 3
  4. 4. What is DASH? DASH: Digital Cash 4 Proof of Work Block Time: 2,5 min Proof of Work Block Time: 10 min Total Supply Around 18* Million Total Supply 21 Million Instant Transactions X Decentralized Governance Structure X Built-in Anonymous Transactions X
  5. 5. MASTERNODES 5
  6. 6. Masternodes Second layer network 6
  7. 7. What are Masternodes? ● Full nodes ● ● Run in P2P network ● ● Provide a level of service to the network ● ● Have a bond of collateral (1000 DASH) ● 7
  8. 8. Masternodes and the Block Reward ● Average block reward is around 5 DASH ● ● 45% goes to the miners ● ● 45% goes to the masternodes ● ● 10% is dedicated to funding projects 8
  9. 9. 9 Source: Dash.org
  10. 10. Masternode Network Stats ● Total number of masternodes: 4,485(April 22, 2017) ● ● Total collateral: ● 1000x4485 = 4 485 000 Dash ● ● Current Supply(April 22, 2017) = 7,246,432 DASH 10
  11. 11. Masternode Services ● Private Send(DarkSend) ● ● Instant Transactions ● ● Voting 11
  12. 12. Private Send 12
  13. 13. Private Send Privacy ● ● ● Extended version of the Coinjoin ● ● Darksend splits funds into common denominations and mixes them ahead of time in a trustless way ● ● Provides fungibility & privacy for users 13
  14. 14. 14 Source: Dash.org
  15. 15. Instant Transactions 15
  16. 16. Instant Transactions 16
  17. 17. Why is Instant Send needed? ● Point of sale transactions ● ● Preventing double-spending in retail 17
  18. 18. DASH’s Governance 18
  19. 19. Cryptocurrencies have two major problems ● Governance ● ● Funding 19
  20. 20. 20 Source: daohub.org Submit a proposal to the masternode network Masternodes vote on the proposal Funding and Development Deployment
  21. 21. The Treasury ● 10% of the block reward is reserved for Dash related projects ● ● Total Available Budget: 6,651.85 DASH ($517,513.92) (April 22, 2017) 21 Miners MasterN. Treasury 45% 45% 10% Block Reward
  22. 22. Submitting a Proposal ● Anyone can submit a proposal using the Dash Core Wallet ● ● The cost for submitting is 5 DASH ● ● Masternodes vote on proposals to allocate the budget 22
  23. 23. Voting Only Masternodes can vote ● YES ● ● NO ● ● Abstain 23
  24. 24. Neither Proposals nor Votes are Stored in the Blockchain 24
  25. 25. 25 Source:ttp://dashvotetracker.com
  26. 26. Finalizing the Budget ● Submitting the finalized budget ● ● Voting for the finalized budget ● ● Issuing a superblock with payments 26
  27. 27. The Superblock 27
  28. 28. DASH EVOLUTION 28
  29. 29. The Problem with cryptocurrency ● Alphanumeric addresses ● ● Passwords & backups ● ● Payments take time and effort for the user 29
  30. 30. “Evolution’s mission is to make digital cash easy to use and access for all users, even those who aren’t technologically savvy.” 30 dash.org
  31. 31. 31Source: Dash Detailed, Youtube
  32. 32. 32Source: Dash Detailed, Youtube
  33. 33. 33Source: Dash Detailed, Youtube
  34. 34. 34Source: Dash Detailed, Youtube
  35. 35. 35Source: Dash Detailed, Youtube
  36. 36. EVOLUTION Design ● Decentralized API (DAPI) ● ● DashDrive ● ● Private messaging ● ● Name Based Payments ● ● Masternode Quorums ● ● Oracle Services 36
  37. 37. Thank you 37
  38. 38. Follow us blockchainhub.net blockchainhub @blockchainhub Valentin Kalinov valentin@blockchainhub.net 38

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