Welcome to Dash

[qwizzie]

First of all i would like to thank this forum for the opportunity for all of us to post and discuss Dash related topics in here,
we all really appreciate it.

The Dash community created a public-funded short introduction video not so long ago, which explains Dash as cryptocurrency
very well :

https://www.youtube.com/watch?v=0GACaNvBlwc
In a very short sentence : Dash is Digital Cash.

Dash doesn't stop there though, it has a lot more abilities / qualities :

1 : Dash provides users with anonymous and fast transactions

It uses Darksend and InstantX to achieve this

2 : Dash provides rewards to masternode owners by running several services for the network

The reward for running a masternode is currently 45% of each mined block and the services have to do with syncing the network , anonymizing transactions of users through Darksend, handling InstantX transactions and possible other future services. To qualify as masternode it will need to have a collateral of 1000 Dash which identifies it as masternode to the netwerk. This collateral is in complete control by the user and can at any time be traded or sold (after which it will not get accepted as masternode anymore by the network). The masternode rewards is influenced by two factors : numbers of active masternodes and the current network mining difficulty. The higher the active masternode numbers and mining difficulty get how lower the rewards for masternodes (and miners) will get.

Each mined block is paid out as follows : 45% masternodes / 45% miners / 10% decentralised budgetting system (in most overviews it will show as 50% masternodes / 50% miners as the 10% decentralised budget will be processed seperately once a month through the creation of so called super-blocks).

The decentralised budgetting system is a system where anyone can put forward a budget proposal for a fee of 5 Dash after which the masternode owners can discuss and vote upon the budget proposal in question.

If the "yes" votes minus the "no" votes is higher then 10% of all active masternodes the budget proposal will pass and the budget get paid out in a super-block once a month. So basicly masternode owners are getting voting power over this decentralised budgetting system.

Links to decentralised budget propsals :

https://dashninja.pl/budgets.html
https://www.dashwhale.org/index.php?pag ... ion=active

Link to number of active masternodes, masternodes per country, masternode payee per block :

https://dashninja.pl/masternodes.html
http://178.254.18.153/~pub/Darkcoin/mas ... stats.html
https://dashninja.pl/blocks.html

3 : Dash is setup in such a way that it effectively became a Decentralised Autonomous Organisation / Corporation (DAO / DAC)
It achieves this by having a highly decentralised setup and by having implemented a decentralised governance and budgetting system.

Just recently Evan Duffield (creator and lead-developer of Dash) created some introduction video's about Dash, explaining it far more
clearly then what i'm trying to convey here, these can be found here :

Dash Introduction
https://www.youtube.com/watch?v=7rGKM2tWKSA

Virtual Corporation
https://www.youtube.com/watch?v=eEJKZjTx9Bg

Incentivized Infrastructure and Masternodes
https://www.youtube.com/watch?v=FY1mciGGhO4

Services and Oracles / IX / DS
https://www.youtube.com/watch?v=uGh43BQrxK0

Decentralised Governance and Budget System
https://www.youtube.com/watch?v=x2bx0quM-h0

If you have any questions please do not hesitate to ask me or hopefully ask other posters in here.
I'm hoping for some healthy discussions to take place in this Dash sub-forum


Thanks for reading this,

qwizzie