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Rebranding and Scalability

Discussion in 'Official Announcements' started by eduffield, Mar 9, 2015.

  1. eduffield

    eduffield Core Developer
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    Hello Everyone,

    In a free market, the best crypto-currency should win by it’s merits and the alt-coin ecosystem should eventually resemble a competition of the best ideas. Alt-coins in the past have been platforms of testing various strategies of improving the overall design of Bitcoin. In the future, I believe we’ll have a diverse ecosystem of many coins. Not one coin to rule them all.

    In fact, if Bitcoin is the only cryptographic currency, it poses a significant risk of eventually being controlled by over-reaching governments and other entities trying to derail it’s original goals. What would the legacy financial system look like if there was no Mastercard and only VISA?

    I am very happy with the way development is going. We’ve been able to refine our privacy technology, successfully released InstantX and have developed the Masternode network into a strong and truly decentralized platform. We’re building the complete solution for crypto-users in different key area and making crypto much more suitable for real world adoption.

    Because of this I believe we’re currently approaching a very important phase of the development of Darkcoin. We have a vastly different architecture that is capable of many things Bitcoin is not. It’s time that we start exploring some of the ways we can become a true competitor to Bitcoin. In fact, I believe the 2-tier architecture might actually be able to solve the ultimate problem Bitcoin faces: Scalability. However, if we’re going to be fixing the scalability issues Bitcoin has, we’re going to need a friendly branding that’s compatible with mass adoption.

    Because of this I no longer feel the name Darkcoin reflects the true essence of the project and have decided to rebrand our product.

    I’d like to announce now that the foundation is presently working on doing a complete rebranding of Darkcoin so that we can achieve this goal. Currently we’re investigating the name “Dash”, which would stand for digital cash. Dash represents the goals that we’re trying to achieve, to be a fast, friendly and scalable online payment system.

    Originally, I made Darkcoin to address a few specific issues that Bitcoin has and compete against it. There’s some misconception in the crypto-community at large that Darkcoin’s primary goal is to be a underground currency and support the black markets. This simply isn’t true.

    When we started we saw a few issues that Bitcoin has and have attempted to solve them. One of the main issues we were trying to fix was fungibility. Fungibility is defined as the property of a good or a commodity whose individual units are capable of mutual substitution. That is, it is the property of essences or goods which are "capable of being substituted in place of one another."

    Bitcoin isn’t perfectly fungible. This means that over long periods of time, Bitcoin will lose it’s fungibility due to coins being tainted by their use. Coins in the Bitcoin system carry their history around with them and that will make them “tainted” as compared to other coins.

    While solving this problem, I eventually found we could create a secondary network within Darkcoin, this network would provide services to keep all of the coins fungible and at the same time could offer other services as well. Services such as protocol 2 factor authentication, instant transactions and now scalability.

    Personally I believe the 1-tier approach used by Bitcoin and other currencies isn’t as powerful as a 2-tier approach. I also believe the no one besides a few people have even yet to understand what a 2-tier cryptographic currency is capable of.

    The Bitcoin developers and community are talking about expanding the maximum blockchain size to 20MB. Currently the Bitcoin network can handle 7 transactions per second. This will allow their currency to 140 transactions per second, but will also result in up to 1TB per year in blockchain storage (until they successfully implement pruning).

    Eventually Gavin Andresen sees blocks getting to 100MB+, with tens of thousands of transactions per block. See http://gavintech.blogspot.com/2015/01/twenty-megabytes-testing-results.html and https://docs.google.com/spreadsheets/d/1CuOEM9uwO5w-RwWGCCZpVGVFwhHHHegxJZqTP5KyapI/edit#gid=0.

    After giving it some thought, I came up with a scalable architecture that supports billions of transactions per day.

    Specifications of this strategy:
    • The blockchain will automatically become much more anonymous than Bitcoin is.
    • Fees per transaction will be very, very low. Let the micro-payment revolution begin.
    • Zero-centralization
    • Scalable to billions of transactions per day
    • Requires a 2-tier network
    • Very low blockchain bloat

    I make no promises about this idea working though, I’m very early in the research stages, but it does look quite promising. If it works, it means we have solved the ultimate problem with Bitcoin and have made this technology accessible to the whole world. This strategy is just too good to let sit for very long and I need to do some exploratory coding to prove it works.

    ---

    Followup:
    https://darkcointalk.org/threads/rebranding-followup.4266/
     
    #1 eduffield, Mar 9, 2015
    Last edited by a moderator: Mar 10, 2015
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  2. tungfa

    tungfa Administrator
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    Whow !

    Sounds great, lets do it
    ;)
     
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  3. Minotaur

    Minotaur Well-known Member
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    Excellent, this is ideal as we grow into a full solution with many features and services we need a brand that can represent all the aspects of the currency.
     
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  4. yidakee

    yidakee Well-known Member
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    Agreed, and in Ed I trust.... but promise us one thing, the name has to KICK ASS !! no seriously, I LOVE darkcoin and I've never ever been to a dark market.

    Dash ... Dashcoin ? ...eeeh. Not "empowering enough".
    Bitcoin certainly has an edge to it.

    Lets brainstorm on it, for the sake of shaking up some neurons.
     
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  5. moli

    moli Grizzled Member

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    Thank you, eduffield, for your relentless effort in making Darkcoin better and better every day!
     
    #5 moli, Mar 9, 2015
    Last edited by a moderator: Mar 16, 2015
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  6. moli

    moli Grizzled Member

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    I love the name "Darkcoin" too and it doesn't bother me, but we've had this discussion before on another thread, and there're still people bringing up this topic so I guess we just have to trust Evan and the Foundation in making this decision. :)
     
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  7. Raptor73

    Raptor73 Active Member

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    Oh no, my drk renderings will become obsolete!.
    Ok, lets do some Dash renderings.
     
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  8. Stray

    Stray Member

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    "That'll be 30 Dashes"

    Would subsets be Dots?
    .1 Dash is a Dot?

    I've been interested in Dark since it was only available on a handful of exchanges, but have no emotional ties to the name as it exists today. All of Eddu's points are fine in my book.
     
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  9. yidakee

    yidakee Well-known Member
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  10. yidakee

    yidakee Well-known Member
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    Dont get me wrong! I'm all in for re-branding. I LOVE darkcoin, but I'm also a Star Wars and Batman geek, so I am biased.

    I love the hacking community, though I cannot code a "hello word" in python. I'm all in favor of institutional rebellion fighting back - but more interested in the consequence than in the cause.

    If the negative cause is "darkcoin", lets come up with something better, to improve on the consequence!

    .
     
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  11. moli

    moli Grizzled Member

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  12. pille

    pille Active Member

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    I really love the name "Darkcoin" would be hard for me to let it go. I also think black markets should not be ignored completely. But that's only my personal feel.

    Another question. Month earlier you posted the plan for a Tor-like network built on top of the Masternode network, but with much better security. Users of this should pay a fee to the Masternode operators and so on. Is this still on the radar? Maybe its what you meant with 2-tier network, to be honest, I haven't got it really.
     
  13. g8F98FF3gjafogj4

    g8F98FF3gjafogj4 Well-known Member
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    Gotta say I didn't see this one coming! Darkcoin has served well and I quite like the name, so its a little bittersweet, but I think its a great move. Dash is growing on me, am excited to check out other suggestions too.
     
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  14. bhkien

    bhkien Active Member

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    I wish I can invest more in Darkcoin.

    Thank you very much Evan! And thanks all of you, the Darkcoin community.
     
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  15. Minotaur

    Minotaur Well-known Member
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    So far, the idea includes no "coin" on it, we are going a different way is just Dash. You can pay in Dash just as you can pay in cash. No "coin"
     
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  16. darkchild

    darkchild Member

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    Just call it BESTCOIN or TOPCOIN and lets get it over with :)
     
  17. yidakee

    yidakee Well-known Member
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    thank goodness!! I was REALLY going to write about exactly that !! Please no "coin" suffix!

    Anyway, is it settled? Is there room for debate? The thread discussing this issue is closed, and I didnt go through it. Will do that now.
     
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  18. moli

    moli Grizzled Member

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    The name "Dash" was suggested by oblox when we were discussing on this thread:
    https://darkcointalk.org/threads/wh...rose-by-any-othername-worth-the-trouble.3310/
    and that thread isn't closed.
     
  19. alex-ru

    alex-ru Grizzled Member

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    Despite the fact that I believe that "Darkcoin" card is not yet played their role - I trust Evan and foundation with rebranding ideas.

    But I would still advise not to give up with Darkcoin name and keep it for several years as "NEW-NAME (aka Darkcoin)"
     
    #19 alex-ru, Mar 9, 2015
    Last edited by a moderator: Mar 9, 2015
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  20. Minotaur

    Minotaur Well-known Member
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    As far as I understand, the D logo will stay the same so I think a lot of your renderings will still apply. If you think about it the former brand Darkcoin is little known outside of the crypto forums so going forward people will just read that D as Dash, it will take sometime to transition, but we will get there.
     
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  21. Raptor73

    Raptor73 Active Member

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    the same d will produce even more confusion. we need to change that also, even a little bit
     
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  22. bituzer

    bituzer Member

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    I expected a rebranding at some time, I totally trust evan and the foundation about this!

    With micropayments and advanced scalability we could make a checkmark after all the things bill gates was talking about I think :) and really have digital cash = dash :)

    awesome I say!
     
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  23. yidakee

    yidakee Well-known Member
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    you think? I don't !! Its it's heritage!! We are such a minority, at best we get a week of trolling about it, and its business as usually. But sure, give it a twist, but not a big one please!! Love your work!
     
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  24. alex-ru

    alex-ru Grizzled Member

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    agree
     
  25. Raptor73

    Raptor73 Active Member

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    i hope so.
     
  26. dazman

    dazman Active Member

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    dash-explained.png
     
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  27. tungfa

    tungfa Administrator
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    ether you rebrand or you do not
    you would not use an old logo and build a new name/brand around it !
    no way, how lame is that
    maybe keep the color theme or a 'D' but not this 'D'
     
  28. Walter

    Walter Active Member
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    It's a good job we're dropping the 'coin' element...

    https://who.is/whois/dashcoin.org

    Some smart cookie was nearly one step ahead...

    Which brings me onto my question, Dash is a pretty common word... How are we going to be able to standardise our web/social media presence without suffixing the Dash name with something? Naturally, dash.com, dash.net, dash.org are all taken...

    Walter
     
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  29. spatula

    spatula Well-known Member
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    Just dropping in to say I love the idea. Most non crypto people that I talk to about darkcoin always have something to say about the name sounding nefarious.
     
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  30. moli

    moli Grizzled Member

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    Evan and the Foundation still need to do a research on this as rebranding can bring a negative effect also.
     

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