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New to Dash? Get the Down Low on How the DAO Flows

Discussion in 'General Discussion' started by AgnewPickens, Feb 15, 2019.

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  1. AgnewPickens

    AgnewPickens Moderator
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    DAO - Decentralized Autonomous Organization

    Decentralized

    Dash Core Group, Dash Force, Dash Boost, Dash Talk, Dash Watch, Desh Nexus, Dash Labs, Dash Nation, Dash Ventures, who am I leaving out, an entire alphabet soup of projects carrying the Dash label, and yet, none of them are Dash. So what is Dash? Dash is a cryptocurrency that has pioneered numerous improvements to the original Satoshi Whitepaper that are among the most emulated in the entire cryptoverse, and here's the skinny on how it works. Let's skip the history lesson and look under the hood, shall we?

    Proof of Work/Proof of Service/Treasury+Governance.
    Say that 10 times fast.

    Proof of Work algo is the X11

    11 algorithms to mine a block of transactions. Originally this could be mined with a simple graphics card, but since the ASIC (Application Specific Integrated Circuit) miners for Dash came out, mining Dash has become a big business with hashrate boosted to as high as 5 PH/s (petahashes per second, think, lots of zeroes per second) calculations to win the block reward and transaction fees, all being crunched in data centers all over the planet. This is where your Dash transaction becomes fully confirmed by the network as the primary layer. 45% of each block reward is shared among miners who have pooled resources to verify the transactions can be legitmately entered into the blockchain ( how we keep the books )

    Proof of Service

    Masternodes collateralized with exactly 1000 Dash each, spread out all over the globe, provide the service layer the enables features most cryptocurrencies have only been able to copy, there is yet to be created a quicker way to securely confirm Instant transactions no matter which part of world or which merchant you are spending your Dash with. No waiting 10 minutes for a BTC block confirmation, the Service layer is always awake to send Dash quickly when you have to. This service layer also provides the ability to mix coins with our optional privacy feature so that Dash spends exactly like the dollar, pound notes, pesos, rupees in your wallet, when you want to pay cash, you are completely fungible with negligible tx fees. This is why we say: Dash is Cash! 45% of each block reward is shared among this secondary layer as Masternodes take turns earning their keep keeping the network humming.

    Treasury/Governance

    10% of the block reward is allocated toward a distributable budget that can be used for things like the alphabet soup of Dash projects I listed at the beginning of this post. This budget is paid out at a superblock that is programmed into Dashcore code and is voted on by Masternode owners. With over 5000 masternodes as of this writing, and with the supermajority required for funding (a proposal needs to get 10% more yes votes than no of the total masternode count) to try to fit into the budget cycle. BUT, we do have a fixed budget in Dash, so if a proposal meets the qualifications but has less yes votes than other proposals before the Treasury, it gets put in line and has to wait to try to make the next superblock. Tricky stuff, but as you can see by the alphabet soup of funded projects above, it works remarkably well, even with the bear market, so Dash keeps chugging along, making new strides, like our biggest development release since masternodes were introduced. Version 13, which lays the groundwork for Evolution.

    Autonomous

    If you understood the preceding description of how Dash is structured, you realize, this is something like a perpetual motion machine, it runs by itself, no matter how much we squabble over a tight budget in a bear market, or spend on promotion and marketing when things are humming, you have the Energizer Bunny on Steroids here.

    Organization

    Dash has activity centers all over the planet working around the clock, it is a global movement to become the premier world cryptocurrency for all the things you are already spending money on, except with no middle man, this a peer-to-peer system that does not nickel and dime you for every transaction you make, like with debit cards, you may not see it up front, but that 2-7% cut on each transaction ends up coming out of your pocket, so cut out the middleman and keep more of what you earn with Dash.

    By the way, if you decide to introduce yourself in the Welcome Thread below, keep your fingers off the flair gun, mmmk?

    Agnew Pickens
    https://staydashy.com
    https://www.reddit.com/r/dashpay/
    https://burnthamsterpub.com (My Dash Merchant website)
     
    #1 AgnewPickens, Feb 15, 2019
    Last edited: Feb 15, 2019
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  2. WSV

    WSV Member

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    Thank you for the topic, but it would be also great to know more about Dash Core Group, Dash Force, Dash Boost, Dash Talk, Dash Watch, Desh Nexus, Dash Labs, Dash Nation, Dash Ventures:)
     
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  3. Sea_Buckthorn

    Sea_Buckthorn Member

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    So, what consensus does it work on?
     
  4. AgnewPickens

    AgnewPickens Moderator
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    @Sea_Buckthorn The PoW consensus algo is X11. But consensus models run throughout the Dash DAO. The Treasury model requires a consensus vote as pointed out in my post. The Discord server I help moderate, Dash Talk, at http://staydashy.com - the moderators make decisions by consensus. Which consensus are you asking about specifically? We are highly decentralized.
     
  5. amaryllis

    amaryllis New Member

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    Thank you for the topic!
     
  6. ardilla

    ardilla New Member

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  7. Sea_Buckthorn

    Sea_Buckthorn Member

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    So, is this platform another forum on dash?
     
  8. AgnewPickens

    AgnewPickens Moderator
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    No, it is a chat community that also serves Dash users, it does not run on the Dash blockchain, like most projects out there, Dash has multiple means of communicating with its users, but as I stated in this post, none of the Dash labeled projects are Dash in itself, they are parts of the ecosystem though and there are many forms of consensus that operate in the ecosystem, the Treasury has its own form of consensus on which projects it will fund, so I was just asking you what specifically you wanted to know about consensus models for Dash.
     
  9. Kavi Jayaweera

    Kavi Jayaweera New Member

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    Interesting post. Thanks for sharing!
     
  10. ngocheo

    ngocheo New Member

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    Hello! I am Ngoc from Vietnam, very happy to join the community!
     
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  11. ChalresThompson

    ChalresThompson New Member

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    I like your post
     
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