January 13, 2023 7:52 pm

Why you should be excited about the Dash Platform

Dash Platform will have an unprecedented impact on the Dash ecosystem when it comes to extending utility and functionality. In a nutshell, the Dash Platform is a web3 tech stack that will empower developers to build decentralized applications on the Dash network. 

In today’s article, we will go through some of the specific use cases of the Dash platform.

Dash Platform Use Cases

In this section, we will go through the following use cases of Dash Platform:

  1. Decentralized storage.
  2. Identity.
  3. Gaming applications.
  4. Cross-platform interoperability.

#1 Decentralized storage

Decentralized storage is one of the most important elements of web3. In decentralized storage, the data is broken down into chunks and stored in blocks over multiple nodes in a network. These chunks of data are further secured by cryptography. 

On the other hand, centralized storage stores data in a centralized server which has several disadvantages.

  • Censorship: Centralized censorship is a big problem, especially with information sources such as Wikipedia and social media. Twitter has been repeatedly guilty of censoring voices.
    • Unethical practices: Trusting a centralized service means trusting the company to work with the best intentions. Unfortunately, that’s seldom the case.
  • Vulnerability: How often have we heard stories of centralized servers suffering from data breaches? When you keep all your data in one place, you essentially paint a large target for hackers.

By storing data across multiple independently-operated nodes, you are widening any potential attack surface. You don’t need to trust a singular provider because there aren’t any singular providers in this system. 

Decentralized storage in Dash Platform

Dash Platform’s storage component is called “Drive.” it is a system that stores application data in Dash masternodes. Let’s see how the system works:

  • The application creator makes a data contract, which describes the data structures that define the said application.
  • The user-created data is validated and verified against this contract. 
  • Post validation, the application data is stored in Drive on the masternode network.

Dash’s consensus algorithm secures all the data stored in the Dash network.

#2 Identity

Your identity plays a major role in establishing who you are. A standard government ID that includes info like Name, Date of Birth, Nationality, etc., is used to obtain basic services such as bank accounts, healthcare, etc. In the crypto-realm, we need established identities for multiple reasons:

  • Ease of use: Public addresses currently act as your on-chain identity, which can take time to keep track of. Using human-readable names makes interactions significantly simpler.
  • Authentication: Prove that a specific action was done by A instead of B. Having some basic identity, like a public address, helps in differentiating the users without the user explicitly stating who they are.
  • Credibility: Identity is required to prove the credibility of a particular user. A on-chain naming service can be very helpful here. For example, isaacnewton.dash is a lot more recognizable than yVnTioQRGuNBLX1PCWVLApRBPMB3s12Aj9.

Blockchain namespaces, and especially Ethereum Name Service (ENS), exploded in 2019. Users registered more than 2.2 million ENS domain names in 2022, accounting for 80% of all ENS domain names. With a blockchain-based user name, it will become simpler to implement a blockchain-based chat and social media platform down the line.

Blockchain names on Dash Platform

Users can register names on the Dash Platform using Dash Platform Name Service (DPNS). DPNS is implemented as an application on top of the Dash Platform. Name registration in DPNS is split across these two processes:

  • Pre-ordering the domain name: The domain names are selected and obscured via a method called “salting.” Since domain requests are sent to masternodes for confirmation, salting prevents these nodes from stealing the names. The registration can proceed once the domain name has received enough confirmation. Domain names in DPNS have a “.dash” suffix.
  • Registering the domain name: The domain name is finally registered and stored in the Dash network.

Once an identity has been created, it gets a corresponding balance of credits. These credits are used to pay for various operations on the Dash Platform. The user can top off this credit balance at any time they wish.

#3 Gaming applications

Gaming applications or “play-to-earn” apps will play a major role in the future growth of the ecosystem. Unfortunately, the current blockchain games are severely limited by the underlying layer-1 tech. For example, Ethereum is the most popular platform for these games. However, Ethereum suffers from low throughput and performance despite its high functionality. Plus, the high gas costs severely limit what you can potentially earn from these games.

Dash Platform provides a layer-2 implementation that runs on top of the layer-1 Dash Core chain. Users may store gaming NFTs at a low cost. Plus, developers can create the games they want without worrying about the underlying technological cost. Simply put, create the game you always wanted to make without worrying about technical limitations. 

#4 Cross-platform interoperability

Currently, we have several blockchain platforms that offer their own unique functionality. To increase overall functionality, these platforms must interact with each other. Without interoperability, these blockchain platforms will simply exist in silos. Cross-chain functionality  unlocks previously untapped value in the following ways:

  • Active gas management by transitioning between chains and avoiding clogs.
  • Stacking DeFi yields by staking LP tokens in multiple chains.
  • Developers can create an application that can access liquidity in multiple chains.

IBC, or Inter-Blockchain Communication, is an innovative way blockchains can natively send data to each other. IBC creates dedicated channels that transmit data packets to communicate with each other. Here are some things to keep in mind about these channels:

  • Channels are permissionless and use smart contract modules for trustless verification. 
  • Anyone can run these channels by becoming a relayer.
  • The permissionless state ensures that connected blockchains don’t have to depend on the relayers involved.

Any blockchain network can use IBC as long as they are based on Tendermint Core. Dash Platform uses a variation of the Tendermint algorithm called “Tenderdash.” This will allow Dash Platform to access the Cosmos ecosystem via IBC.

NOTE: Dash and Cosmos aren’t currently compatible. However, their shared codebase origins provide a good starting point to streamline future IBC integration between them.

Closing Thoughts

Most of the sophisticated use cases described here will not be done overnight. However, the fundamentals are there. The sheer potential of the Dash Platform is certainly noteworthy. Imagine a future where your local coffee shop has a loyalty program built on the Dash Platform. Every single time you buy a coffee, you simply scan your loyalty QR code and accumulate points that are stored in a decentralized network.

This is just the tip of the iceberg. Once released, Dash will become the hub of web3 innovation.

About the author

Marina Siradegyan

Communications and marketing at DCG. Huge fan of Dash. And cats.