Ethereum smart contract that provide small holders of DASH become part of masternode?
- Thread starter BruceLee
- Start date
BruceLee
Member
But it needs trust to middle man(splawik21)??
Am I missing something??
he is running a shared masternode service , similar to node40
I forgot perry / node40 DT alias otherwise I would have tagged him
BruceLee
Member
All these shared master node services need certain level of trust to middle man. Am I right??
Minimize required turst is all about crypto currencies!!???
TaoOfSatoshi
Well-known member
Trusted community members notwithstanding, I would think you could set up an Ethereum smart contract to do that.
BruceLee
Member
no no what I'm trying to talk about is... If I have only fraction of 1000.. let's say I have 400 you have 600
We want operate the MN. but we don't trust each other. How can we operate MN? through Middle man? yes possible
But best solution is smart contract I guess.
BruceLee
Member
What do you think?
Is it win-win situation? or...?
I don't see how a smart contract will do anything for you. The 1,000 Dash still needs to be held by just one individual.
Neither do I how smart contract could be the solution here.
Two parts which create one masternode in the end one of the people have to keep the 1000 coins to be able and generate a vin.
Meaby in the future there could be the possibility hardcoded which gives some kind of token for the partial masternode,
I mean 2 people have 500 coins each. Neither first nor second want to send his coins to another but each of them can generate some kind of token which proof they have the collateral of 500 and having both token will give the possibility for these 2 people to create a node till one of this collaterals will be touched.
The creation of these tokens can take the duration of 3/6/12 months and after this period can be unlocked and spent (some kind of blocking funds)... hmmmm would that be a solution eduffield UdjinM6?
Given the number of masternodes already supporting the network, I don't think it makes sense for the devs to spend time making it easier to create shared nodes. Once the price goes up (say $10/Dash) we might see masternodes cashing out. If those masternodes aren't brought back online that might be the incentive needed to start supporting shared nodes through the protocol.
TroyDASH
Well-known member
Yes, one person needs to have the 1000 DASH, but I don't think the OP was trying to get around that. What a smart contract could do though is guarantee that you can get your DASH back on request. Set up something where you can send funds to a shared masternode service, and the masternode service owners would be allowed to create Masternodes in a stack, such that withdrawal requests are guaranteed by the contract and will always come out of the top of the stack (minimizing the impact of breaking up Masternodes). With something like that, you wouldn't necessarily have to trust the shared service operator.
timeless
New member
A LIFO (last in first out) system would be fair. When the top MN gets broken up the shareholders of that MN get a choice, get their Dash back or wait till 1000 Dash is reached again and not lose their spot in the stack.
Downside is there is no reason to not put your Dash in a MN as the usability in daily life is still very limited so liquidity will dry up even more.
Downside is there is no reason to not put your Dash in a MN as the usability in daily life is still very limited so liquidity will dry up even more.
noobtrader
Active member
i guess we will need to create 2 split-wallet/multisig address,
1 is for pooling Dash
another to send the 1000 Dash and set as MN address which hold the fund. maybe we can even program how to run the MN in the system. and maybe set which address and how much coin should be transfered after MN termination etc
seem doable, hmmm....
methusaleh
Member
Hadn't even thought about this liquidity issue but it's a good one. I guess like shared nodes at the moment there'd still need to be a reasonable minimum amount to get on board (200+ maybe?)