Dash Evolution questions

Dashmaximalist

Dashmaximalist

Well-known member
hi guys

i am kind of new , and quite interested in knowing more about dash evolution

as far i know in evolution we are getting updates like

name based wallets

business friendly structures

i also heard amanda say something like savings and checking accounts , where savings account would recieve interest on the money ( this is killer one obviously )

can some give a comprehensive update on on evolution

also any idea of the timeline when it would roll out
 
Hi,

Here you have nice interview of Lead Developer Evan Duffield by Amanda, covering Evolution in plain and simple words. If you want to dig deeper, there is the wiki with many information on Evolution and also you have the current Evolution Dash Paper pdf.

As for the timeline, as far as I heard, that would be an alpha version this summer (for techies to test) and a beta version (for the public) end of 2017
 
Leonidas said:
Hi,

Here you have nice interview of Lead Developer Evan Duffield by Amanda, covering Evolution in plain and simple words. If you want to dig deeper, there is the wiki with many information on Evolution and also you have the current Evolution Dash Paper pdf.

As for the timeline, as far as I heard, that would be an alpha version this summer (for techies to test) and a beta version (for the public) end of 2017
Click to expand...
Hi i read them all thanks

I got a better idea now

I heard Amanda saying that there is this savings account ,which will earn you interest etc , is that true ?
 
Dashmaximalist said:
I heard Amanda saying that there is this savings account ,which will earn you interest etc , is that true ?
Click to expand...

Yes, it's true.
I think in the interview I gave you this covers it, if I'm not mistaken.

Basically nowadays you can already earn interest by locking 1000 dash in a Masternode of your own or go through a third party, send him a fraction (starts around 25 dash) and he will take care of gathering enough dash to set up a Masternode. In both case, you'd get around 8 % interest.

The difference between the two options is that, in the latter, you are going through a trusted party.

What Evolution bearing account will do is that it will basically do what the trusted third party do nowadays with their service share, but in a trustless and fully decentralized way (plus it will be as easy as eating a pi because the system will take care of it automatically whereas right now its a bit more time)
 
If that happens that's a huge usability factor but how will they provide these incentives ??

What's extra reward in being a master node ?
 
"Simply put, a Masternode is a server connected with the network that performs certain tasks related with PrivateSend, which is what the anonymity feature is called, and gets paid for it. It is Proof of Service. 45% of the new block's reward goes to pay the Masternodes.

Anyone can run a Masternode. The objective is to have enough of them for decentralization so nobody controls an important fraction of Masternodes. On the other hand, to avoid bloating the network or having reckless operators, there is one condition that needs to be fulfilled: proof of ownership of 1000 Dash. If the owner moves or spends those coins, the Masternode stops working."

So if you and me gather 500 dash we can set up a masternode of our own, reinforced the network and provide service to it. In exchange we'll get around 7-8% interest. Except that one of us will need to hold the coin in a wallet so we'll have to trust each other. We could work it out with a multi-sig.

Now imagine we are 1000 persons to hold 1 dash and we want to get together to set up a Masternode to help the network and get a reward for that. That'd be impossible.

So Evolution will do it for us, it will constantly record the coins placed in bearing accounts and set up X number of Masternodes with it.
 
ok great answer , post evolution, i dont need to even host a MN and incur the costs , then whats the incentive to actually host a MN post evolution ?
 
Masternode gets around 8 %. You won't get 8 % with the bearing accounts maybe 5-6 % (the % remains to be seen) - obviously because people and the network are doing the work for you
 
You must log in or register to reply here.
Back
Top