DarkCoin(DASH) - POW/POS - X11
Dash (DASH) is a privacy-centric digital currency based on the Bitcoin software. It allows you to remain anonymous while you make transactions, similar to cash. With Bitcoin, transactions are published to the blockchain and you can prove who made them or to whom, but with Dash the anonymization technology makes it impossible to trace them. This is important because the blockchain is accessible to anyone with an internet connection.
In addition to traditional Proof of Work (PoW) rewards for mining Dash, users are also rewarded for running and maintaining special servers called “Masternodes” and that scheme called Proof of Service.
Release date: 11PM EST, 18th January 2014 / No premine
X11 hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, roestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
Block reward is controlled by: 2222222/(((Difficulty+2600)/9)^2) CPU/GPU mining
Block generation: 2.5 minutes, Difficulty Retargets using Dark Gravity Wave 7.1% decrease in the number of coins generated per year
Est: ~18.9M Max Coins, Decentralized Masternode Network , Superior Transaction Anonymity using Darksend
VPS Servers / VPN:
GitHub Dash Community Page now available:
Altcoin Report: Dash, ShapeShift Users Get Debit Cards
Shake provides support for Dash, Gatecoin draws “first blood,” and ShapeShift will bring altcoins to debit cards. Want to catch up on your latest altcoin news? Read the stories below.
SHAKE, RATTLE & DASH: DEBIT CARDS ON THE WAY
Bitcoin debit card provider Shake is adding Dash support to its platform, allowing customers to use Dash to purchase goods and services. Dash is labelled as the world’s seventh strongest digital currency.
VP of business development at Dash Daniel Diaz expressed enthusiasm over the move, stating:
“This is a very exciting financial option for the Dash community. Our growing user base will now be able to keep their money in Dash and use their Shake Debit Card for common day-to-day expenses, regardless of the merchant accepting virtual currency or not. The addition of Dash to the Shake debit card is also one of the first commercial applications to take advantage of Dash InstantSent technology.”
Hong Kong-based cryptocurrency platform Gatecoin has launched the trading of FirstBlood, an Ethereum-based eSports token. It is the official currency of a trading platform of the same name and will be only the second Ethereum-based currency to be featured at the Gatecoin table.
FirstBlood made history two months ago when it raised nearly $6 million in a crowdfunding sale, one of the largest sums ever accumulated for a cryptocurrency. Gatecoin founder and CEO Aurelien Menant believes that the move is likely to bring the company into a new wave of innovation:
“We are excited to be part of the first eSports [decentralised app] (dapp) on Ethereum and believe the first token trading will ensure the long-term trading sustainability of the FirstBlood ecosystem… Dapps like FirstBlood will be the game-changers, encouraging more mainstream consumer engagement with Ethereum and more developers to create dapps on the platform.”
Bitcoin debit card company Wirex is integrating ShapeShift to bring dozens of new altcoins to its users.
Wirex offers physical debit cards to customers. Usage has grown over the years as their alleged fees are significantly lower than those of standard debit cards. ShapeShift founder and CEO Erik Voorhees states:
“Wirex renders banks wholly unnecessary. With cryptocurrency and an easy mobile app, one can avoid banks and still pay for things anywhere. We are thrilled to have their services integrated with our API to expand their customer’s funding options.”
‘Ask ABJ!’ — Amanda Answers 18 Questions From Viewers
October 2016 – Dash Core Team Monthly Report
Dear Community members,
It is my pleasure to give you a status report of the Dash Core Team activities. Below, you will find our report covering activities performed through the end of October, grouped by the four strategic areas of focus for 2016.
- Software Development
- Dash core wallet – version 12.x (lead developer: Evan Duffield)
- Testnet of 0.12.1 in progress.
- Issues with a fake masternodes identified and removed
- Watchdog functionality developed
- Work on Sentinel installation package
- Dash Evolution Web-Mobile Platform (lead developer: Andy Freer)
- Dash wallet for Android – updated features (lead developer: @HashEngineering)
- Full Czech language translation of Android wallet added to transifex by Jan Machynka (Comodore)
- Update to add support for scanning QR codes that request InstantSend
(is=1) which will by default check the “InstantSend” box on Send Coins.
- This needs to be added to the Request Coins screen of the app.
- Published a TestNet version (that quickly became obsolete due to an increase in the protocol version).
- Electrum-Dash wallet development (PM: Robert Wiecko; developer: Tyler Willis)
- No further updates on this project (waiting for 12.1 release)
- Detailed updates available in the following location: https://www.dash.org/forum/threads/electrum-dash.8265/
- Mycelium integration
- The Dash integration part is on hold due to the changes on Mycelum side
- Detailed updates available in the following location: https://www.dash.org/forum/threads/mycelium-integration.10541/
- Dash core wallet – version 12.x (lead developer: Evan Duffield)
- Business Development
- Wall of Coins integration negotiated and proposed to the network
- Fiat Gateways (including Lamassu) project (PM: Daniel Diaz, external vendor: GitGuild)
- GitGuild were working on the deployment of Tigo CTM infrastructure
- The new software stack is being tested now (the CTM stack without Lamassu server: https://github.com/CTMGuild/DashLamassuProposal/wiki/MVP-and-Beyond (described as “CTM Goal” in the doc))
- Detailed updates available in the following location: https://www.dash.org/forum/threads/fiat-access-gateways-project-description-and-update.10290/
- ProtonMail Integration (PM: Robert Wiecko, Lead developer: Jon Kindel)
- Documentation and improved code handed-over to the Proton Team.
- We are waiting for the feedback and results from Proton
- Shake integration
- Dash integrated with InstantSend support and service launched (active and support Dash)
- SpectroCoin integration
- Dash integrated and service launched (active and support Dash)
- Other debit cards operators that integrated Dash
- Marketing and Communication
- Wachsman PR project
- Publications and support in preparations to laBITconf conference
- Media training delivered to the team members
- Detailed updates available in the following location: https://www.dash.org/forum/threads/wachsman-pr-dash-pr-agency.11077
- Social Media Daily updates + dash.org News Section (Multi Languages)
- Wiki translations started (Russian, Spanish, Portuguese, Chinese) + French languages (new)
- Work on new webpage (dash.org)
- Wachsman PR project
- Project Organization
- Work on Crisis Management and Release Management processes
- Recruitment for Evolution developer backend role (2 candidates selected from 10 applications)
- Work on Dash Service Desk setup
- Work on the presentation and preparations to laBITconf
- On-boarding of 2 new PMs
Original report is available here: https://dashpay.atlassian.net/wiki/display/OC/October+2016+-+Dash+Core+Team+Monthly+Report
- Software Development
Dash Evolution Preview — A Glimpse at the Future of Payments
Hi, I’m Amanda B. Johnson. And you are watching DASH: Detailed.
You may have heard that the pièce de résistance of Dash is a forthcoming product called Evolution,
which will enable the average person to use Dash without needing to know what cryptocurrency is.
With its alpha delivery slated for late 2017, I thought you might enjoy seeing these screenshots of pre- pre-Evolution in action.
This slide shows a new user landing on an Evolution webpage. And remember that anybody could host an Evolution web or mobile application using Dash’s forthcoming Decentralized API, or DAPI for short.
Users have the option to create a wallet or to start selling as a merchant. The user creates a password and then is shown their recovery seed as no Evolution provider will be storing any users’ private keys.
Our Dashboard shows us the three primary sections of our Evolution wallet — namely our Funds, our Apps, and our Friends.
Looking at our Funds first, you’ll see that we can have various types of accounts. Such as a cash account, a joint account, and a savings account.
Here we see the creation of a new account type — we’ll call it Spending. And fast-forward a bit with our Spending account, we can view its History.
Notice in the History that we’ve been making subscription payments to a few merchants. That’s because Evolution enables auto-pay, which will be a protocol-level first for the entire cryptocurrency industry.
Next we’ll move from Funds to the Apps section. Here we see various merchant Apps listed. Let’s click on one here and see that we can view its ratings, its download numbers and a link to its homepage, all to help us determine whether or not this is someone we’d like to do business with.
We can go ahead and choose to purchase this merchants product with one click here, which will show us the invoice and now we pay.
As another first for the cryptocurrency industry, Dash Evolution will offer protocol-level moderation in case of payment disputes between merchants and customers.
Both sides of the trade get to make claims about the dispute and a moderator can then choose whether to issue a refund in any amount to either party.
Merchants can create these apps by undergoing this process, where Evan has created Evan’s Socks Store.
Moving from the Apps section to the Friends section, we see that we can view the history of all transactions we’ve had with people in our Friends list.
Our Friends list itself allows us to label both a name and a description for our contacts within Dash Evolution.
And finally, we can even send a private message to those in our Friends list.
Not to be restricted to the web, here’s an idea of what Evolution will look like on mobile.
I hope you’ve enjoyed this little preview of forthcoming Evolution software. And if you did, you will enjoy at least as much, my chat with Evan Duffield next week as he goes deeper into Evolution specifications — namely, Decentralized Masternode Shares, the DAPI and the merchant app store. So be sure to come back next Wednesday for that.
And remember if you live anywhere near Austin come meet us this Sunday, and anywhere near Albuquerque, come out and meet us the following Tuesday.
Starting today, Ledger Nano S and Ledger Blue officially support DASH!
Starting today, Ledger Nano S and Ledger Blue (available as a pre-order) officially support DASH!
(use the “BBF21” coupon to get a 21% discount)
Update to 1.2 firmware does the trick ; )https://www.ledgerwallet.com
Blockchain Backed Governance Systems Meetup – Fernando from Dash presenting
Barcelone BTCC Meetup with Dash’s fernando Presentation (Governance)
Blockchain backed governance systems (DAOs et al.)
Friday, Nov 25, 2016, 7:15 PMFab Lab
Carrer de Pujades, 102 Barcelona,
ES 110 bitcoiners Went
Proposal: Infrastructure - Datacenter (December)
This proposal is to fund our ongoing infrastructure costs. We have not
requested any infrastructure budget for the past two budget cycles, so
we are requesting some extra budget to cover reimbursements in addition
to funds required for December.
Ongoing costs are outlined below which includes changes which were
described in detail in September's infrastructure funding request.
Cloud infrastructure costs:
$260 per month for AWS and Google services and administration
- Route53 DNS zone management
- EC2 web server instances
- S3 for web server instances
- Backups and auditing
- Gmail for domains
- VPS for integrations support
Hosted Compile Server:
$150 per month for co-location and replacement parts for our Bamboo compile server
Cloudflare Business plan:
$200 per month
- Hosting of dash.org and all services hosted under that domain
- DDOS protection
- Web optimization services
- Real time statistics
Requested funding is as follows for the December 4th budget cycle:
- 90.00 Dash for infrastructure costs October through December ($808 USD @ $8.981 per Dash based on November 25th average rate at https://bitinfocharts.com/comparison/price-dash.html)
- 5.00 Dash reimbursement for the proposal cost
Note: Should any funding remain, we will apply those funds toward future infrastructure funding needs
Manually vote YES on this proposal:
dash-cli mnbudget vote-many 1d4635f00b8be00483182f4e5e0e67b3343e0e6679dc31923859aa81c9c44d53 yes
OR from the qt console:
mnbudget vote-many 1d4635f00b8be00483182f4e5e0e67b3343e0e6679dc31923859aa81c9c44d53 yes
Manually vote NO on this proposal:
dash-cli mnbudget vote-many 1d4635f00b8be00483182f4e5e0e67b3343e0e6679dc31923859aa81c9c44d53 no
OR from the qt console:
mnbudget vote-many 1d4635f00b8be00483182f4e5e0e67b3343e0e6679dc31923859aa81c9c44d53 no
US Dash MeetUps this week:
Austin, TX – 27th Nov. 5- 7 pm
San Mateo, CA – 29th Nov
Albuquerque, NM – 29th Nov
Dash: The Cash Alternative" campaign!
I've been giving this a lot of thought for a long time, and I feel that the time has come to move on from the Dash Dalmatian style of Dash promoting. Loving the dog, he served me well as my Twitter was growing, and he will always be used as my personal Dash persona.
However, I feel that the time has come to shift the focus of my grassroots promotional efforts a little bit. Over the past year, I have noticed more and more news articles relating to the war on cash. Just this past week in India with the events there, I feel that it is picking up momentum, and this is the direction that world governments will be going in. I feel that this is a potential gold mine online, and decided to switch gears. We always say that Dash is Digital Cash, there is no digital currency out there that is doing as good of a job developing into potentially the world's alternative to cash, saving wealth and financial freedom.
The other day on Dash Nation Slack, user @mike-e was encouraging us to think more about adoption, and what the average person would find beneficial about Dash. I thought about it, and what would the average person relate more to when viewing my tweets or websites? A dog, or an alternative to rapidly shrinking cash options? The answer to me was obvious.
This was not an easy decision for me to make, as I have been using my own persona for years. However, I feel that now is the right time to make the switch.
So my Twitter @TaoOfSatoshi is now @CashAlternative (http://twitter.com/cashalternative).
To any Twitts, the new hashtag is #CashAlternative. Let's take over this hashtag, it will be very important later.
I purchased http://cashalternative.co. I feel that this would be a domain that would resonate more with the average individual. Why is Dash a cash alternative? Why should I care? If you have any graphic design or website building skills, I feel that this is a worthy project to work on. We can explain why the average person needs Dash, what are the benefits, and through a Dash Nation page, we can link to the Dash Nation website where the community building efforts continue. Please, if you have skills, donate some to the cause, and I may even be putting in a proposal at some point.
The "Dash: The Cash Alternative" campaign. It's time for a change! Join Dash Nation Slack at http://dash-nation-invite.herokuapp.com, and look for the #cash_alternative channel to contribute.
DASH masternode monitoring and budget voting
Please Vote !
Budgets likely pay around midnight Sunday night UTC and budgets will finalise about 24-48 hours prior to that.
DASH masternode monitoring and budget voting
- Register your DASH masternodes simply by entering your masternode address
- Notifications on payments and downtime: email, mobile push and slack
- Android app to monitor your masternodes on the go
- Earnings statistics (today, 7 days, monthly, lifetime)
- Comfortable DASH budget proposal voting and proposal discussion
- Service is currently free of charge
- Get started with this tutorial, in case you need further information!
Evolution’s Marketplace, Masternode Shares, & DAPI: Evan Duffield Expounds
How will interest-bearing savings accounts (or masternode shares), the merchant/app/marketplace, and the world’s first decentralized API work, precisely? Join Amanda as she chats with Evan Duffield — he even gives bonus personal stories and economic predictions at the end.
Dash Evolution: http://dash.org/evolution
Hello I’m Amanda B. Johnson and you’re watching DASH: Detailed.
As was promised in last week’s Evolution preview video, today I’m sitting down with Dash developer Evan Duffield to talk Evolution details and what’s more, get an update on the status of Dash’s next software version 12.1. Sit back and relax here he is.
AMANDA B. JOHNSON: Evan how are you today? EVAN DUFFIELD: I’m doing wonderful, thank you.
AMANDA B. JOHNSON: Good. Well thanks for joining me. And I have to say this is the first kind of interview for me in that I did not have some questions in mind and seek you out and say, Evan will you please come and answer these questions in an interview? But rather you told me you have some things in mind and that you have some information you would care to share. And so with that sort of reversal going on I’m just gonna leave it to you to guide us through.
EVAN DUFFIELD: Okay perfect. Yes so I’m… this time was a little bit different. When I was in Argentina talking to random people I started finding myself being able to describe Evolution a lot better. And just from the the conversations I was having I figured out that these people were really excited about what we were doing in a way that I hadn’t really thought of.
And so I wanted to, I guess, give the same pitch to the community of what we’re building and of what I kind of discovered it means to me. And so the slides that you had, had shown – I was just going to go through those and kind of talk about what product were building and why we’re building it and the way we’re building it.
And so the first thing is this, be your own online bank. We can’t use that slogan but it’s going to be something like that. So what we’re aiming to do is to be the Wells Fargo of decentralized systems. We want to create something that you know, people are used to using. That anyone that has any experience with you know, the legacy banking institutions and how those work — they could just move on over and they would look just like that to them.
And so you know, to get that sort of of ease-of-use you need usernames and unique passwords. And so that’s where this registration screen comes from. And this is all on the back end just completely tied to our decentralize APIm (DAPI). So we’re going to make a decoupled GUI from the actual API, so that any new developer can come onboard and we implement all of the ways these things look or act even. Then it’ll…
AMANDA B. JOHNSON: And I’ll quickly just insert there Evan — just for anybody who may not know — a GUI is short for a GUI which is a Graphical User Interface. So basically the stuff on the screen that the end user sees and is like clicking around in, okay.
And then of course the decentralized API as Evan also mentioned is — I don’t know how many lines of code – but it’s basically a piece of code that anybody will be able to use to launch either an Evolution while on the web or an Evolution wallet on mobile without needing to run the entire Dash blockchain and do all of those things.
EVAN DUFFIELD: Yeah exactly. So on the DAPI – I guess it’s two different parts. There’s the the front-facing SDK part. And if you’re familiar with something like Stripe — they have an excellent API.
And its object oriented. So when when you use Stripe and you set up a new client you actually set up a customer and then you set up a subscription for them.
And then with these API’s you set up the the schema, or the database entries and everything on the Stripe side, right? And so what we’re doing is creating something like really similar to that except instead of having like the centralized repository of client information we figured out a way to make these generic storage objects that then we store on this relational database that’s built on Dash Drive.
AMANDA B. JOHNSON: So is it pretty easy for somebody to start up like a Stripe account or whatever? Basically is that what you’re saying? And Stripe is like a credit card processor, right?
EVAN DUFFIELD: So Stripe is like — it’s like PayPal. You you can sign up as a business and then you can provide services on the Internet. And when when you go to build the client you use one of these services. So in this case it’s Stripe. And they have this just excellent API where you can hook into it and you just drop these like little snippets of code into your web app and that’s all that it takes for like a screen to pop-up and ask you for your credit card information or ask you for your name and address and that type of information.
And so when I say like, we’re building like the simplicity into it, I mean we’re building something like you would build in the legacy world except were decoupling all of the complexity of building and maintaining a system like this from using it.
AMANDA B. JOHNSON: Ok.
EVAN DUFFIELD: So I guess I can move on to the next screen which was the login screen. AMANDA B. JOHNSON: Yeah.
EVAN DUFFIELD: The idea here is that when you when you login you can login to your mobile device or you can log in on the Internet. And in either case you’re just using your username and password. And then you see all of the same information.
So as you get in, you would see the My Account screen and that’s where you is your public account, your savings account, and private. So you can also have you know, completely anonymous funds.
You can use it and it would work exactly like Bitcoin if you wanted to. Completely transparent on the ledger side. Or you could move money into the savings account just like you were doing in a bank, and it would allocate it into masternode shares. And that’s where that whole part comes in.
AMANDA B. JOHNSON: So before we get into the very exciting aspect of how… more about how masternode shares will work the savings accounts, I wanted to know personally, so if private coins live in the private account — so does that mean to PrivateSent but rather all payments going to and coming from just the private account will automatically be PrivateSent? Is that right?
EVAN DUFFIELD: Yeah pretty much. So like, let’s say you have a private account and I have a public account and you give me an address in your private account and I’ve been buying like socks online and stuff, so like everything that I did from that private, that public account, you can completely see what happened you know.
And then I send you my sock money. And then you get into your private account. The first thing that happens is it mixes. So all of my sock history over here is gone. And then I have brand new coins that were just given to you and then anything you do is completely separate from that.
AMANDA B. JOHNSON: And now with regard to usernames, would I give you like a different username if I wanted you to pay my public account vs my private account?
EVAN DUFFIELD: I was thinking of just using something like a period. So it would be like Amanda.private or Amanda.public.
AMANDA B. JOHNSON: Got it. Okay.
EVAN DUFFIELD: Or like, so you you can name the accounts essentially and pay to like a sub- account.
AMANDA B. JOHNSON: Ok.
EVAN DUFFIELD: And so that would make it really easy for me to send money to.. or maybe like there’s Amanda.default and you pick whether that’s your private or public and it would go into that. I don’t know. We’re just kind of exploring ideas but that’s the general gist that I think I’m going for.
AMANDA B. JOHNSON: Ok. Alright. Please continue. You were just getting into the savings account being the gateway into one’s saved funds being put into masternode shares.
EVAN DUFFIELD: So with the the masternode share program – right now the masternodes make about eight percent a year. And you know, that’s pretty good for an investment. And then over time what we want to do is to also like remove the the absolute requirement to run one of these servers from the collateralization of this cryptographic bond instrument, which is essentially what the masternode is, right? You have a cryptographic bond and then you have a server that’s associated with it. And those two have to be both active on the network unspent and pingable you know, a real server.
AMANDA B. JOHNSON: And you’re not too much saying that you want to remove the collateral from the masternode, but rather you want to make it possible for someone who doesn’t have a thousand to participate.
EVAN DUFFIELD: Yeah exactly. And to do that you have to decouple the requirement for 1000 Dash to belong exactly to one server. And so the the concept that is the the one that we’re thinking about implementing for this is where you have a pool of money — and so like let’s say you have a thousand dollars in your savings account — so that can get you one ninth of a masternode essentially, because they cost nine thousand dollars right now.
And what it would do is you would get something like 80 masternode shares. And then you know, so it’s 80 of them and that that would get you one ninth of a full masternode. And then you have these other people over here, and they run the hardware.
So like Node 40 might be interested in participating in this. They could actually launch servers and claim some of those masternode shares. And so in bulk they claim like a thousand of the shares and then you have all of those people with the money collateralizing this virtual server now, over here, being run by these other people. And so that…
AMANDA B. JOHNSON: That’s okay, go ahead. go ahead.
EVAN DUFFIELD: I was just going to say, that that’s essentially how it scales up. We get two giant pools. One of all of the servers — the virtually being ran for all of this collateral sitting in Pool A, from you know, it could be a 10,000, 100,000 investors even.
AMANDA B. JOHNSON: I had a question from an audience member at my Minneapolis presentation recently and I told him that I was going to be talking to you soon and that I would ask you, and this is the perfect time for me to ask you.
But he basically wondered, would the collateral, would the shares need to be like, agreed to be locked for a certain amount of time to prevent like, like if someone takes those funds out of their savings account and that masternode is now like, is it now missing some of its collateral and so it goes offline? Or is it immediately made whole again with with shares from elsewhere? Or how can that work?
EVAN DUFFIELD: Yes I thinking like a combination of both of those, since masternodes would belong to many different investors of different sizes — allocations of shares – you could have like 50,000 shares go offline, right? And now you’re uncollateralized like five percent of the node. And I don’t think that that’s an issue like enough to jeopardize the masternode in general. But then we could have thresholds.
So like let’s say it required seventy percent of the shares to be online at any given point for the masternode to be active. And so you could have turnover — investors coming and going all of the time – and the system would then try to replace that as soon as possible. And it could prioritize like which ones it was going after to replace based off of how long the shares were missing or things like that. So it could be a pretty intelligent system.
AMANDA B. JOHNSON: And so then if some — if a masternode were say like, seventy percent collateralized, like it were in flux, would it then receive like seventy percent of its normal payout? Or would it receive like all of its normal payout? And the people left in the less-than-fully-collateralized node would be like getting paid more than usual? I’m just wondering about like the incentives that could create?
EVAN DUFFIELD: Yeah there’s some crazy incentives in there. If you set it up the way that you’re describing you could actually try to take offline other people’s money so that you get paid more. But like… Or just some of your own shares. Yeah I would say like it would probably be proportionate to how many shares were active. So one share would make you know, one shares worth no matter how much of the masternode it was responsible for at that time. Otherwise yeah there’s weird stuff that could start happening. Ok so I guess I’ll get back into what I was talking about before.
AMANDA B. JOHNSON: Please, yeah.
EVAN DUFFIELD: That pretty much covers the account part of it. I think that’s a pretty simple way of showing it to users. Everyone can understand that and it covers anonymity, the need for a public ledger as well, which is important — we could talk about that as well if you like.
AMANDA B. JOHNSON: Sure.
EVAN DUFFIELD: Because a lot of times when when you’re doing business online like it needs to be public. Especially when it’s like two businesses and they’re just interchanging money. They don’t want any privacy in that probably.
AMANDA B. JOHNSON: And would you mind giving me like an example?
EVAN DUFFIELD: Like let’s say it’s somebody in your supply line and you manufacture shirts or something, and so you’re buying the cotton from these guys over here and you send them money but like in that case, you want this transparent history between the two of you in a way that isn’t obscured by things like mixing.
AMANDA B. JOHNSON: Okay. Then does that mean if I were to receive a payment from somebody’s private account that I – my wallet would not show me that it came from like Evan.private? I just would not know who it came from? Is that what I’m hearing then?
EVAN DUFFIELD: No, no. So if you receive money even from somebody privately you also receive direct communication from them saying that, hey this money was for this and here’s like the memo associated with it. And then that’s how your wallet knows like which merchant it was, and like what part, like what moderation queue it’s in, and all of the processes on the network they all go through that communication system.
And so you definitely know who’s sending you money and whatnot. But then there’s the public side of the ledger where it’s recorded in the blockchain and that’s more of what I’m referring to. If you don’t have all of this private information that the client will share you could still associate those two people in, who know that, I was getting my cotton from this specific provider and I would get it on these specific days and it was for these specific amounts and you could track my business and figure out how was growing or you know how, much I was paying for things. Things like that.
AMANDA B. JOHNSON: Got it. So like if I wanted to be able to prove to somebody that Evan sent me money — if you send it to me privately I would only be able to prove it to like really myself because just like my client would show me that yes the payment came from you.
But if I wanted to be able to prove it to anybody and everybody that you sent me money then I would want to have it done publicly so that I could just like send the link on like a block explorer, for example, to anybody?
EVAN DUFFIELD: Yeah, exactly. You know another example would be like if we had a Coinbase type competitor in our space and they want probably to have some relationships with some other businesses where also the clients are known, because you know, this is a AML compliant company, right?
And so there’s regulation — everything internally then, according to the the regulations just has to be completely transparent. They can’t have you know, mixers you know, obscuring the blockchain and everything. Because then if the regulator’s come in and ask for information they can’t get like cut off there. And so you know, the system would allow people to operate like that in our ecosystem, which I think is important just because it’s out of necessity sometimes.
AMANDA B. JOHNSON: Okay.
EVAN DUFFIELD: Okay, so I guess the next thing was the marketplace. I think this is really…
AMANDA B. JOHNSON: Wait, is it being called the marketplace? Is it… I’ve seen some comments about this online. I mean, so should be called the marketplace? An app store? A merchant app store? Can only merchants live there I’m sure you’ll tell me.
EVAN DUFFIELD: You know we – I think we’ve thrown around three or four names for it so far and it’s because like the concept has been growing. We started out with it as like this like little type of like programmatic appstore thing and I think it’s turned into something bigger than that.
Like we want everyone that’s in our ecosystem to be accessible through this one platform and for you to be able to like search through it and like search by ratings or search by the things they provide and things they offer. And like, have some repository of information about what’s available in the Dash ecosystem in a place that’s available to everyone. So we can kind of all figure out like what we want to live there and what we don’t want to live there.
AMANDA B. JOHNSON: Ok.
EVAN DUFFIELD: And so like with the the slides. All of these examples they’re actually our real partners. So we have a VPN provider that that we have online. ProtonMail integration that’s happening now. Shake. Node 40. What we want to do is then — after Evolution is working and you could literally drop in that like little snippet of text – we’re going to get an integration team up and running and start going out to these businesses and just show them the SDK, teach them how how to install it, and get such…
AMANDA B. JOHNSON: And SDK is something developer kit? What is SDK?
EVAN DUFFIELD: Software Development Kit.
AMANDA B. JOHNSON: Software Development Kit. And so is that, I mean in layman’s terms, is that just saying like, hey store here’s the code, here’s the simple code that you would need to run in order to find yourself appearing in our marketplace?
EVAN DUFFIELD: Yeah. And it can actually do anything. So it would be the full API into our platform, right? So if you were — like if you’re a merchant and we want to integrate with you and right now you take credit cards, PayPal and you could add you know, Dash just as easily as you added the other two. And I guess that’s kind of the idea.
We’re going to go out and try to get all of the people that went for PayPal and make some kind of like integration process that they’re already familiar with and just get them onboard and get them into the marketplace so that people can find them.
And then that should create that snowball effect where start onboarding lots of people because I’m as a business platform it should actually work. It should facilitate direct business between these vendors and people without third-party in the middle. So it – I think it should be like pretty interesting to start seeing it actually, see the gears turning I guess.
AMANDA B. JOHNSON: And now would that be just as easy for them to plug into like they’re in- person point-of-sale as it would be like their web presence?
So with in-person point-of-sale like that that’s a completely different concept of how we’re going to deal with it. We want to make like physical hardware for like merchant’s to integrate with us.
AMANDA B. JOHNSON: Oh! What like a little tablet or something?
EVAN DUFFIELD: Yeah something like that. I looked at like a few of the different platforms that are out there and some of them run on iPad for example, and you just install the software and you’re good to go. And then you get that iPad into like this plastic thing and it can like flip around and then there’s like a pen for signing and whatnot. So, I mean, if we did something I think it would be along those lines.
AMANDA B. JOHNSON: Yeah.
EVAN DUFFIELD: Just getting like the plastic created for the iPad to set-in is really easy. And making iPad software also is probably pretty cheap. So we could probably get into that space as well.
AMANDA B. JOHNSON: Would that be contingent on being accepted into the iOS App Store?
EVAN DUFFIELD: Yeah, maybe. We’re actually working on that and we think we have progress. So I won’t say anything yet but…
AMANDA B. JOHNSON: Ok.
EVAN DUFFIELD: I’m confidently excited.
AMANDA B. JOHNSON: Okay. Wow! Confidently excited. You heard it here on DASH: Detailed everybody. Alright, please continue.
EVAN DUFFIELD: Ok. So with with the marketplace it’s this concept of having an inclusive index of all that’s available within Dash. And then hosting that via the the DAPI. And then the SDK is just for accessing all of that information and allowing people like an easy way of getting onboarded.
And then I think the the other portion of how we are going to make this work is we use the the funding process from the governance system to then fund an integration team to go out and and start you know, just rolling these people through this process of onboarding and we’ll get that down to a science. And then that’s how we that’s how we grow the whole thing systematically.
AMANDA B. JOHNSON: Yeah so I mean like in-person, like on the ground, like integration teams? EVAN DUFFIELD: Yeah.
AMANDA B. JOHNSON: That’s interesting. Pete told me that he looked a lot into Uber’s early days. And he told me that it seems like their immense success that they experience was almost directly attributable to like what you’re talking about. Like apparently Uber didn’t launch anywhere unless there was a specific like integration launch team of real people on the ground in that particular city to facilitate the launch.
EVAN DUFFIELD: That’s really interesting. It makes sense, I mean you do need boots on the ground. Bitcoin’s no different. They really do need people to do integrations. They they need like an
administrative team and they they’ve kind of got it figured out doing I’m it completely with philanthropy.
But I think as far as scaling like I don’t see that scaling very well. And so we’re just systematically making our own system for for doing it and funding it from from the blockchain. So you know, it’s kind of exciting.
Like we’re finally getting to the the place where I think this is the next phase as the project goes into it’s like, some sort of meaningful maturity it seems like. I’m pretty excited. That’s pretty much all I had though for the the app and the slides. That’s kind of what I was telling people in Argentina about it.
AMANDA B. JOHNSON: Ok. I just have one follow-up question, in terms of ok, so like I would have an address that’s like Amanda.public and like Amanda.private and certainly I know what that means because I know how Dash works and so I was just wondering, with Evolution’s focus being a person who knows nothing about cryptocurrency, do you think, I mean, how is the wallet going to communicate to them — if at all — like what it means to have a public address and private address?
Like is there gonna be like a little FAQ up in the wallet that’s like, what does it mean if I send a public payment versus private? I mean is it going to be like, dear customer there are these things called blockchains and they record all of your transactions? And like how is that going to be approached for a person to know just what exactly this whole public and private thing means?
EVAN DUFFIELD: Ok. So there’s a tipping point when technologies — they creep up really slowly and then there’s this point at which the average person eventually gets on-boarded and that’s really far into the process of adopting a new technology. Especially something that’s, you know, what five years old? Or no, 2008. So yeah, we’re going on a few years that we’ve been exposed to this new technology.
But I still think that as far as reaching that tipping point – that’s the point where everyone probably will be ready enough to really jump onto the the bandwagon – we’re like, really close toward the beginning.
And so I would say like, the first step is, we need a scalable technology.
The second step is, we need something that looks like the legacy technologies people are used to dealing with.
And then the third step is, we need to onboard 1% of the population. They could be the smartest of all of them. Like these are probably the people that got smartphones first, right? Previously. And then you get them onboard and then we go for the next ten percent or the next fifteen percent.
And so, like I would see it as creating like a series of wallets. And all of these wallets, they all use the same API, right? Because we decoupled the GUI from the back-end. And so the first one, we could create FAQs and different things to educate the people that are getting onboarded just like what you described, and get them up to speed.
The second and third and fourth iteration I think is so far away from that that all of the complexity should just be gone. We should not even be caring about the blockchain anymore because we have, you know, ten percent of the population on it and there’s probably a lot of privacy that’s been built in by that time. And you know, it probably removes a lot of the risk of being — of utilizing this type of technology, right? That’s kind of how I see it going.
AMANDA B. JOHNSON: Now I have, I think, one or two questions for you. The first would be, I think I had a little thought like growing in the back of my mind the other day and then Pete surprised me when he articulated it and I wanted to see whether you like agree or disagree with it, and what you think about it basically.
But he said something like, you know, I wonder if like when Evolution comes out, like our first users and the majority of our users like basically will not be any of the people who are in the crypto sphere now. Like any of the ninety-nine percent of capital in the crypto sphere now that owns coins other than Dash.
And he said like basically, I think it’ll just be people who have not been hanging around the crypto sphere all these years who pick up Evolution but just totally brand-new people who were otherwise uninterested in blockchain magic. And so like what do you think about that?
Like because it seems to me — and I might make a video about this in the coming weeks – that Dash is like treated like a redheaded stepchild but it’s really like becoming like the Goliath of the crypto sphere. And it’s very interesting to watch all this play out. And so, do you think it will continue that way even after Evolution? Like are there so many egos on the line? I mean, what do you think?
EVAN DUFFIELD: Ok, so I would start by saying the whole ecosystem as a whole is worth 13 billion dollars, right?
AMANDA B. JOHNSON: Right.
EVAN DUFFIELD: If you add up every one of these projects. If you take all of the derivatives into account of the world economy and you add it all up and you stack it up, we’re talking a hundred trillion, right? And decentralized technology is better than centralized technology. I mean that is a fact.
And so, what will happen eventually is that hundred trillion is going to flow into the decentralized markets. And so we have from 13 trillion to a hundred trillion to go, you know? And so I see it as being that all of that other money that’s out there it’s attached to things that you know, they aren’t providing good return. The banks for example, like what they pay like two percent or 0.2 percent?
AMANDA B. JOHNSON: More like the letter.
EVAN DUFFIELD: Yes.
AMANDA B. JOHNSON: Yeah if they pay anything at all.
EVAN DUFFIELD: Yeah and so you have that. And stocks haven’t been returning that great of returns over the last while. Bonds are more dangerous than they’ve ever been with the amount of debt countries hold. And so there’s three areas where I see there being possible like huge declines in those economies and that money coming over to us.
But first we need like this first series of companies — decentralized companies – to work and to expand the market up into the point where you know, it’s worth a hundred billion dollars or 500 billion dollars. But all of that money comes from new people.
It’s the people that were invested in those things I had mentioned that will figure out like slowly and surely and start earning way more than the other people and then bragging about it and then that’s just gonna keep it happening. But you know, like how long does that take? I have no idea, you know?
AMANDA B. JOHNSON: Yeah. It causes me to wonder, I mean like some of these folks who claim that they own various cryptos and you know that all the while they’re calling me a “shill” and you a “scammer” — like are they gonna gonna have to like, get drunk to like mask their tears while like they open their first Evolution wallet?
Because it would just be crazy not to. It seems like way too beneficial for them not to. Or are they just gonna like never open an Evolution wallet and like become grumpy old men who are like, that shill and that scammer they got unfair advantage or something, and they’ll like be saying that to their grave? It makes me wonder.
EVAN DUFFIELD: Yeah the cognitive dissidence that that will cause — you have no idea.
AMANDA B. JOHNSON: Yeah. Alright, and final question would be, would you mind sharing, what did you do before you started Dash and like began working full-time for Dash? Like what was your job?
Because as I mentioned before to various people, in my estimation the occurrence of programmers who also understand economics or vice versa – someone who understands economics who can also program — like that person is so rare that it’s not even surprising like the economic absurdities we see in so many of these other chains that like can’t figure out, why does our node count keep dropping? Why does our infrastructure keep centralizing? And they just cannot figure it out.
So you’re one of those unicorns — you can program and you also understand economic incentives. What did you do before you were doing cryptocurrency?
EVAN DUFFIELD: Ok so I started programming when I was 15. And I started with initially, Basic 6, which is actually pretty awesome language to learn on. It’s like really crazy slow and stupid, built by Microsoft, but it’s like the GUI thing where you can design like programs within it.
So like building calculators and stuff. And then I got an internship but I worked for this crazy German guy, which I mean that was a lot of fun. He was trying to like take over Tempe, Arizona as like the ISP against Cox. And he got me introduced to Pearl and then from that we were like building these systems for like managing customers and then from there I started building call center technology for managing like automating cues and I had like mathematical…
AMANDA B. JOHNSON: Speaking of calls.
EVAN DUFFIELD: Yeah.
AMANDA B. JOHNSON: Sorry about that background noise.
EVAN DUFFIELD: So I worked for a couple ISPs and that was interesting I then like switched over to working for SEO companies. I was a black hat guy for a little while.
AMANDA B. JOHNSON: Oh!
EVAN DUFFIELD: I was like hacking different things on the Internet — probably illegally. And then I switched to like, white hat SEO. We were modeling the public part of the Internet and trying to figure out how the rankings worked.
And so I modeled our algorithm after Google’s and was trying to work out how their’s worked. And so I was using machine learning and stuff for doing a lot of that. Huh. I worked for the government for a while with clearance of hacking again.
AMANDA B. JOHNSON: Really?
EVAN DUFFIELD: I’ve hacked for a few different companies professionally. Yeah like security work has been something I’ve done a lot of and then more recently I like a hobby while I was doing a job, I got my Series 65 and started doing machine learning technology for modeling signals for the stock market. And I was selling this…
AMANDA B. JOHNSON: What’s a Series 65?
EVAN DUFFIELD: So there’s like a few of these different licenses that are required to get into the financial services industry in the US. The Series 65 allows you to run on investment firms. So I like passed that, which is a really hard test to pass.
The book was like that thick and the test was like four hours or something crazy. I studied like non-stop for like three months to do it. And that’s where I like — I studied economics for like five years before that in my spare time just because I was interested in it. And then I did that and I like learned the rest of it and I passed the test. A lot of that was about economics and whatnot.
Then I started doing these models for the stock market. I was doing like reading of these different models together and then like, retesting the children. I had like farms of computers running, doing it. It was a lot of fun. I had a few hundred people that were subscribed.
And then after that, I saw a Bitcoin and got into that. With all of the economic knowledge and different things that I’d done it was like the perfect fit because I have done a lot of security work, I’ve done a lot of economic work, I’ve done a lot of machine learning work, which I think is going to be really useful for the next part.
And and so when I started messing around with the Bitcoin client I was kind of surprised that nobody was interested in tweaking the things I was interested in. And none of them were like thinking about the problems the same way. And so I started asking questions around random people, and everyone was like, yeah those sound like really good ideas you should probably do something.
And so then I started like hacking on the client and and that’s where x11 came from. And all of that. And then it kind of just, it like blew up, like a pretty quickly at my job. Like within two weeks of Dash start ing I couldn’t focus on work anymore and then I kind of got fired slash quit.
AMANDA B. JOHNSON: I know how that goes.
EVAN DUFFIELD: I was like literally working on this like all of the time and even while I was at work I was thinking about it and I was like checking the forums and stuff. And my boss would like
come over, he’s like, what are you doing? So he got like really mad at me. We still talk but uh that kind of, that was the parting of ways there. And then I’ve been full-time since then. Haven’t looked back.
AMANDA B. JOHNSON: I see. Well sounds like the groundwork was certainly lain. And it’s just occurred to me now, rather it is not lost on me, that I have referred to Dash as cryptocurrencies redheaded stepchild more than once in the past and you are in fact redheaded and it is all coming together quite nicely I would say. Alright.
EVAN DUFFIELD: There’s actually a bunch of redheads – you know Holger’s a redhead, our QA guy. AMANDA B. JOHNSON: That’s right, he is.
EVAN DUFFIELD: Probably the more redheads we can get onboard the better I would say. AMANDA B. JOHNSON: Yeah.
EVAN DUFFIELD: Ira Miller. AMANDA B. JOHNSON: Yeah.
EVAN DUFFIELD: I’m just attracting them from all around the world and trying to get them in one group. Yeah I think I [unintelligable] power somehow.
AMANDA B. JOHNSON: Yeah. And I’ve heard that redheads are also like a dying breed or whatever so maybe I don’t know there’s some — special something special in the genetics I would say keep that going. I’m bullish on redheads.
EVAN DUFFIELD: We’re going extinct. It is a problem. AMANDA B. JOHNSON: Yeah. Very good.
EVAN DUFFIELD: And then the other — one more thing before we go that I want to talk about was 12.1.
AMANDA B. JOHNSON: Oh yes, please.
EVAN DUFFIELD: Ok so as like, just a really short status update, I redid my development environment. Basically like what what happened, which is kind of interesting is, I decentralize our development team.
We got a new guy named Tim. We like recoordinated how we do everything. And then they essentially took over after I wrote all of the prototype code for how 12.1 works with Sentinel and with the governance system and everything.
And then, just like a couple weeks ago, it’s looking like it’s pretty stable and so I started up 25 masternodes on a test server. And I’ve been like issuing the commands to create superblocks, which appears to also be working correctly now. The network seems stable. Everything looks like were pretty good to go.
There’s two other things that I need to test before we launch. One is pooled mining and there’s a couple security things I need to look into. But I would say definitely by December Fourteenth we will be on 12.1 on main net.
NARRATOR VOICE: Shortly after recording, Holger Schinzel, who spearheads quality assurance, automation, and testing for Dash, noted that a release date of January First, 2017 would be realistic.
AMANDA B. JOHNSON: Alright well that pretty much does it for us so thanks for your time Evan. EVAN DUFFIELD: Yeah thank you for having me. It was fun.
That’s it for this week’s DASH: Detailed.
If you want to talk about anything you heard in the show today or anything Dash related at all, I invite you to join us in one of our many social channels. You can find them listed at the link you see in the card on your video screen right now.
in addition to that, be sure to follow us on Twitter for oh so important updates and I’ll see you next Wednesday.
"Dash to Adoption” Status Update with John Bush
AMANDA B. JOHNSON
: As you may or may not know, I am sitting with John Bush of Austin, Texas.
And John is a contractor for the Dash network. And will you tell us what it is in particular that your
current treasury proposal aims to do John?
: Well, it’s called “Dash to Adoption” and the g oal is to recruit a hundred new businesses
that accept Dash.
AMANDA B. JOHNSON
: That’s pretty much it in a nutshell.
AMANDA B. JOHNSON
: Yeah, that is… the title tells us almost everything we need to know. Alrig ht
so, since I’m here in town I was so keen to g et like a report from you on how it’s g oing . And so the first
thing I want to know is how have you decided who to reach out to? Like do you g o to the stores next
door? Or like what’s been your strateg y in determining where to g o first?
: Sure well the first phase was the low-hang ing fruit. So I reached out to friends and
family, fellow Liberty activists, and the crypto community, and manag ed to recruit a handful of people
And what I’m currently doing is working with my virtual assistant to compile contact information of
businesses that accept Bitcoin. There’s a website – SpendBitcoins.com that has like 9,500 listing , and
I’m paying my virtual assistant in India six bucks an hour to g o throug h and scour all of them. And I’m
emailing them and the virtual assistant is put in a pre-canned messag e into a contact form, and then
whoever responds in any type of warm way, I’ll eng ag e them on a more personal level. So that”s how I
hope to reach the 100.
Another thing that I’m g oing to do is reach out to businesses here in Austin. And then if need be g o
after the cannabis industry in Colorado.
And then one other thing I also did the same thing — I found a massive list of VPNs that have 65 or 75
VPNs — so I work with my virtual assistant to g et all the contact information for them. And I send them
a personalized messag e explaining about Dash’s privacy functionality and tied it hand-in-hand — your
customers obviously value their privacy so here’s a cryptocurrency that would enable them to pay in a
AMANDA B. JOHNSON
: Ok, so if someone does express interest they say, okay we’re willing to g ive
that a g o at our business — what do you do to g et them set up? What is that process?
: So I first inquire about their existing point-of-sale and the existing system. And they
g ive me some feedback on what it is. And ideally they use a plug -in or a merchant processor that
interfaces with Coin Payments. I think it’s CoinPayments.net.
AMANDA B. JOHNSON
: That’s so far is the most popular and simple way for business to accept Dash. If it doesn’t
integ rate directly with the plug -in — which of course enables you to incorporate it into your existing
system, when you sell something the inventory g oes down and tracks your overall sales — at this pointthere’s a little bit of hacking that needs to take place. Or some people need to do it manually so to
speak, which is what I do here at Brave New Books.
We have Shopify, which is one of the more popular ones. And I heard from a little bird actually that
they’re working on developing a Shopify Dash plug in, which would be phenomenal. But the way that it
works for me is, someone g oes in and whenever it comes time to payment, choose the payment, they
could select card, PayPal, Bitcoin, which uses Bitpay, it’s integ rated automatically, or they select Dash.
And when someone selects Dash they then g et a response that says, a person from Brave New Books
will contact you shortly with an invoice. And then I manually email them an invoice saying please send
twelve dollars worth of Dash within the next 24 hours to complete your purchase.
So it’s kind of tedious. There aren’t a whole lot of people that are spending their Dash so it’s not
overwhelming . And I assume when there are enoug h people are spending their Dash there’ll be more of
a demand for these plug ins and stuff to come about.
But some of the critiques or the concerns before I embarked on this endeavor was that it’s kind of like a
chicken in the eg g scenario. People like, we don’t have enoug h plug ins and we don’t have the merchant
options there so you shouldn’t do this. And my position is well, let’s g o ahead and g et… let’s
demonstrate that there’s a need for this. Let’s g et people using it already so we can create the demand
which will in turn lead to more development.
And of course, you know, Evolution is coming out in 2017. I think when that happens it’ll be a lot
easier. But I wanted to just g o ahead and plow forward with it. The infrastructure isn’t completely there
to where there’s some difficulties, but thankfully the core team has been very helpful.
So there’s a VPN service that’s interested in setting it up and they wanted to see how it work with their
API so someone from the core team is helping them with more of the technical aspects.
AMANDA B. JOHNSON
: Oh really?
AMANDA B. JOHNSON
: Well I have to say, I think your approach — the plowing in potentially, like
as some people said, they thoug ht this was too early — I have to say I resonate with that, in that this
Like I wondered when I started thinking about it — is it too early? Is there enoug h to talk about Dash
every sing le week? Maybe some people — had I asked them, had I cared about the opinions of others —
they probably would’ve said, no. Even with The Daily Decrypt I had people be like, how could you talk
about cryptocurrency every sing le day?
AMANDA B. JOHNSON
: Certainly you run out of thing s to talk about. And so I think… I respect your
approach to saying no, let’s g et out there and see what needs to be done and what can be done. So how
many merchants would you say you’ve like completed of the hundred thus far?
: There’s 15 merchants that are officially sig ned up, and I have 15 others that are
interested and wanting to move forward and we’re in the process of helping them formulate exactlyhow to do it. So we’re thirty percent of the way there and today’s the 26th and the campaig n ends on the
24th, which is the full hundred days. So I’m at the point where I need to be doing on averag e more than
two businesses a day.
But one thing that I’m g oing to do to help is rig ht now I’m the one manually emailing all of these
businesses that my virtual assistant are g etting the contact information. I’m g onna write them a protocol
where they g o ahead and do all of the emailing as they bring it in. And then any warm lead I’ll be able
to contact. Because rig ht, now the virtual assistants able to work at a pace that’s faster than my ability
to email all of them. If I can automate that completely… and then even if I have like a five percent
closing ratio or one percent closing ratio, I’ll still be able to achieve my g oal.
Another thing I’m g oing to do — I g uess this will be the first time I’m g oing to announce that here — is
I’m g oing to offer up one — exclusive — in order to help… Because I think I was a little more ambitious
and optimistic starting it. And my wife was like, you know, don’t g et in over your head, you know
because I need to g et this done. It’s like, I can’t fail, I committed, we’ve already been paid, and I want to
make this happen. So I’m g onna offer one Dash to Dash users that can help recruit businesses.
AMANDA B. JOHNSON
: Oh, that seems smart. Decentralize it even further. Yeah, send out those
mycelium spores to help with the effort. Alrig ht, and I just had one final question which was, just a
clarifier, when you say there are 15 sig ned up, does that mean like they have these plug ins g oing on
their websites or they’ve been listed at SpendDash.com for example? Or what does it mean to be sig ned
: Most of them are listed at SpendDash.com — you can g o to DashToAdoption.com is the
website to track everything — and that means that they are ready and able to accept Dash payment.
Now another thing , a big hang -up is – and I’m completely upfront, which I would advise people to be
upfront about this when you’re recruiting merchants – they can’t expect to have a big influx of
customers that accept, that are g oing to spend Dash.
So one of the thing s that is kind of something that’s made a little harder is there’s not a lot of people
spending Dash. And then ag ain we g o back to the chicken and the eg g . Well there’s not a lot of places to
Obviously the best place to spend Dash is at BraveNewBookStore.com. Haha.
That’s one of my g oals with this project — is to take away that arg ument, you know, of course I’m not
spending Dash. What am I g oing to buy with it? Well here’s a hundred businesses that we recruited that
have a wide variety of services.
But I make it clear to the merchants that — many of them already accept Bitcoin — so I tell them, we
want you to g et in on the g round floor of this really exciting cryptocurrency. And they I explain how
Dash, dig ital cash, it really hopes to be the currency of the Internet. The Internet transactions and and
all of the benefits are there.
So I’m hoping as more merchants come on-board, more people will be a little more loose with the
spending of their Dash, and that would have a synerg istic effect to take Bitcoin’s position as the
number-one cryptocurrency.AMANDA B. JOHNSON
: We’re coming for you Bitcoin.
Well, and if it helps either you or any of the mycelium spores you send out to do the recruiting , I’m also
more than happy to g ive a free shout-out on DASH: Detailed to any business that starts accepting Dash.
So for any businesses that want that, I just need to be informed about it basically. So just shoot me an
email or a Slack messag e letting me know, and I will make sure it g ets on a show.
AMANDA B. JOHNSON
AMANDA B. JOHNSON
: Thanks for your time John.
: Thank you.
Exodus 1.12.1 Released
We encourage everyone to upgrade this latest action-packed release. Transaction handling has been vastly improved AND we squashed bugs AND tossed in new features! In addition this version adds some Dash fixes for individuals using Exodus to store Dash mining rewards. Upgrade to get a new transaction history list, speed improvements, new subtle-depth scrollbars, more transaction details and new one-click max, half and min exchange buttons.
Note: If your browser still shows the old release page with version 1.11.0 use the following to force a refresh:
• Hold the ⇧ Shift key and click the Reload button on the navigation toolbar.
Dash Security-Privacy Paper – VERSION 0.1.7
Please Download :
This very extensive /detailed Security Paper was donated to us by an anonymous source, Core Team members double checked facts and approved for posting and public discussion.
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0).
Dash added to
Dash keeps overtaking Ethereum as Purse.io most popular Altcoin as Bitcoin dominance strengthens
BY Coin Telegraph
Purse.io’s number one most-used cryptocurrency, besides Bitcoin, is Dash for the second month in a row. But despite the progress made by some Altcoins in real-world adoption and usability, Bitcoin has strengthened its position as number one in the rankings.
An online shopping site popular in the cryptocurrency community, Purse acts as an escrow service to allow customers to trade Bitcoin for purchases made with Amazon gift cards. This effectively allows anyone to shop on Amazon.com with Bitcoin, sometimes at significant discounts. Purse has partnered with streamlined cryptocurrency exchange ShapeShift to allow other coins to be accepted as payment.
Purse announced October’s rankings via a Tweet:
Purse informed Cointelegraph that Dash was once again the number one Altcoin for November, with Ethereum in second place and Litecoin taking over Ethereum Classic in third place. According to Steven McKie, Purse’s Head of Business Development & Product Content, the integration with ShapeShift was meant to expand to new communities of users:
“Digital currency use continues to proliferate around the world as adoption marches forward. In order to leverage the long-term growth of other alternative digital assets aside from Bitcoin, Purse teamed up with ShapeShift. Partnerships like these enable us to extend the use of our platform to more diverse communities; exposing more individuals to Bitcoin, and pushing adoption forward.”
Usability-focused cryptocurrencies make inroads on Bitcoin’s “digital cash” game
While Bitcoin remains comfortably at the head of the crypto pack and Ethereum looking to continue holding its piece of the crypto pie by looking into alternative ventures other than digital currencies, other coins continue to diligently improve the concept of digital cash for the common man.
Dash rebranded its name from Darkcoin to a monosyllabic combination of “digital” and “cash,” in order to maintain a focus on expanding its use as an everyday medium of exchange, pushing an ambitious strategy to get as many new merchants to accept it before Christmas.
Its development team remains hard at work developing the Evolution update, which among other features will remove long cryptographic addresses in favor of user accounts and allow for user-to-user messaging, slated for release in late 2017.
Gulden, another cryptocurrency focused on usability as an everyday digital medium of exchange, is on a similar path to take Bitcoin’s basic technology and present it to the world in a much less intimidating fashion.
The Netherlands-based coin recently released an update allowing for seamless conversions to Bitcoin addresses and bank accounts, buying Gulden directly from wallets and a link between desktop and mobile wallets without employing a third-party service.
In 2017, the Gulden developers intend to do away with traditional alphanumeric addresses as well as build an instant, zero-confirmation feature.
Bitcoin’s dominance over cryptocurrency strengthens
However, despite the progress made by other coins in real-world adoption and usability, Bitcoin not only remains the premier cryptocurrency but has actually strengthened its first place ranking over the past several months. Bitcoin’s share of the global market cap for cryptocurrencies grew to over 86 percent, up from 80 percent two months ago and its all-time low of 74 percent in March. This is mostly due to a price above $770, the highest since early 2014, and a market cap of nearly $12.4 bln, the highest since 2013.
Meanwhile, the top seven cryptocurrencies excluding Bitcoin have all fallen in value over the past several months. Since late September, the combined market cap of Altcoins has fallen from $2.6 bln to under $2 bln.
Bitcoin’s Bubble vs. Dash’s Killer App: Amanda B. Johnson at UNM
Cryptocurrency’s ~14 billion dollar market cap is largely betting that one or more blockchain-based tokens become widely used as “money.” But given crypto’s current usability, that’s not likely to happen. Amanda B. Johnson discusses why the likes of Bitcoin and others are likely currently in a bubble, and why Dash Evolution may well save cryptocurrency.Thanks for coming y’all. And yes, I am Amanda B. Johnson.What I want to talk about is something that I think is not talked about nearly enough in cryptocurrency — in digital — I’ll use the word “cryptocurrency” — everybody here knows what that is. I think a lot of newbies are like, crypt? Crypt what? You know it sounds scary. I don’t think it’s the proper word to use with them, but I’ll use it here.And I don’t know if economics is not talked about enough just because like, the space is made maybe mostly populated with either programmers or, you know, just maybe like tech guys who never like looked so much into it, but I think that a lack of sound economics — we’re already beginning to see what happens when economics are lacking in these networks — and I think that will continue to see what happens when sound economics principles are lacking in networks and I’ll get into what I mean.So right now, the reason any of these cryptocurrencies has any value — and I was actually discussing this in the car with Danny on the way here — so a grand total of what? Like 12- 13- billion dollar market cap for all of them combined? The reason that that money is in this space, is that money is betting that one or more of these cryptocurrencies becomes widely used, and actually earns the title currency.Like I would, I would say it’s actually a misnomer to call any of them a currency right now because a currency by definition is a medium of exchange. And so until something is like a medium of exchange and I’m like hey, I can buy gas and dinner and socks with something it’s not actually currency yet. So all of this wealth and capital that in the space is basically making a bet that one or more of these networks actually earns the title of currency.It is my belief that we currently are experiencing – the vast bulk of these digital currencies, cryptocurrencies, have the aspirations of being like a PayPal but they have the functionality — and will continue to have the functionality of like PGP email encryption. Do any of you use — like on a practically daily basis — do any of you use PGP email encryption? I don’t either. I don’t either. I even have a PGP like, public/private key set. I don’t use it either.For anybody who might not know what that is, PGP email encryption is like a form of encryption that was invented in like, the nineties or something, by, was it Phil Zimmerman? And it’s a way to — it’s a cipher basically — it’s a way to share a lock with the world and only you have the key to that lock. So if you want to receive an email that like even the email provider cannot read, you send out this little mathematical lock to everybody and you say, hey like lock up the email that you send to me with this lock, and when I receive it, I’ll open it with my key because I’m the only one who has the key.And so you would think, oh this is like an awesome idea, right? Especially after like, the Snowden revelations, you would think that everybody would be using PGP email encryption because who among us wants to like wonder if our emails are being read, and like swiped up into these collection points on internet cables? I would be surprised if like one percent of the world used PGP email encryption. Why? Why is that?I don’t know if any of y’all ever heard the story but actually when Snowden, when Edward Snowden first decided to like leak his stuff, he wanted to do it privately right?He sent a 12-minute long video tutorial to the Guardian journalist Glenn Greenwald saying, this is how you set up PGP encryption and Glenn Greenwald could not figure it out. Like he almost didn’t get the Snowden story because he could not figure it out. And every single cryptocurrency today works like that.You would have to send somebody a 12-minute video tutorial to tell them how to download a wallet, what a blockchain is, how to generate new addresses, how to keep generating new addresses to protect their privacy, how to backup and secure their private key, and etc., etc. And if cryptocurrency remains in this state it will go the way of PGP, which is to say, probably no more than one percent of the world’s population will ever use it . And so if that is the case, what does that mean about this 13- billion dollars worth of capital that is betting that this stuff doesn’t feel like PGP but rather feels like PayPal?It means that it’s all in a bubble right now and we’re all going to lose our shirts. That’s what it means. It means that this all will likely go down in the history books as akin to tulip mania except maybe they’ll call it like, “crypto mania” in the history books. And our pictures might even be in there and that would be really embarrassing for us.And so what I want to talk about this evening is basically the reason I chose — the reason Pete and I chose to start working for Dash in particular — is because in my estimation it’s the only network that has lain the foundation — and I’ll talk to you about that, basically the backend foundation. The stuff that the end user is probably never gonna care about or even need to understand — and is going in a direction of usability that will ensure that this is not a bubble. That cryptocurrency in some form is saved and does not end up as a bubble. And let me define “bubble” before I continue.The definition of bubble that I use I got from economist Doug French. He defines a bubble as the state of, like the price of a commodity or whatever, when a large portion of the people buying that commodity are not buying it to use it, but are buying it because they expect that its price will go up.This was found quite commonly like in the lead-up to the 2008 housing bubble break, right? Like people were buying houses that they didn’t even live in. They just bought the house because they expected that the price of the house would go up and that they could flip it. Once enough of that starts happening around a certain commodity it enters bubble phase and it’s only a matter of time until it crashes. And everybody who was left owning any of it loses.And so using it that definition, I would say that all of these digital currencies — Dash included — we’re all holding them right now not for their utility, not because you bought your shoes with Dash or with Bitcoin – not because I didn’t either — but rather we expect that one day they will have utility. And so I want to basically just describe what is happening in Dash that I believe makes it the only crypto that I know of — and I’ve looked into, I’ve looked into most of them — the only crypto that I know of that is going in the direction that a person holding it will be holding it for its utility rather than speculating upon it.So I want to talk first about the backend of crypto, like the boring stuff that does not get a lot of headlines. Nobody calls us like from Forbes. Nobody calls us from Bloomberg. Or Yahoo Finance. Or any of these other outlets that like, they’ll sometimes write about the flashier stuff going on in crypto. You know like, they’ll write right about the DAO and they’ll write about you know, whatever is happening in Bitcoin price movement sometimes.The backend stuff is not glamorous but it is essential to the functioning of a network basically. The long-term functioning of a network. How do you make network-wide decisions with thousands of people you don’t know? Thousands of people you’ll probably never meet. Thousands of people whose names you don’t even know, right? Like people are using their handles online.When cryptocurrencies are based on consensus — whatever offering we present to the world we first had to come to consensus on it — how do you come to consensus? Without a formal governance mechanism in place the way it works is this: people go on reddit or they go on Twitter and they propose an idea. And people start arguing about that idea. And people start going back and forth on it. And you got to begin to wonder — ok so this ILoveBananas78 on reddit — like does this guy even own a Bitcoin? Does this guy run a full node? Does this guy have a miner?And all of a sudden you realize that like these million- and billion-dollar discussions going on online, you don’t even know if who you’re talking to is like a member of the network. You don’t know if they’re invested at all. And so the only form of governance that there is is just like hard forks. Is like, you’re with us or you’re against us. Like, fork or don’t. And that is, I mean, it’s just, it’s rudimentary. And it takes a long time. And it can result in highly undesirable results according to a lot of people.As a perfect example, when Ethereum hard forked to rewind the DAO-aster most people thought that everybody would switch. They thought that at the end of the day there would be just one Ethereum. But they failed to realize that there was not a consensus and so they forked. And now we have like Ethereum and Ethereum Classic. And it’s basically like the worst thing you can do — to hard fork and have half the network competing against the other half of the network. It’s… Basically these things can be avoided if you can just find a way to find out what the rest of the network wants like pre-fork. And ideally maybe no fork has to happen at all.So how do you do that? Like if you don’t know if ILoveBananas89 actually is running any infrastructure for your network, is like actually owning any of any coins at all, how can you figure out what all of the vested participants want?Dash has a great way of doing this. Anybody in Dash who runs what’s called a masternode — basically they do three things for the network, and in exchange for doing these three things for the network they get voting rights. And it is their votes which make all of our development decisions.One, they need to own a thousand Dash to prove that they are vested in the outcome of their votes. This basically protects us from… what would it… The icons of the world. It protects us from like the nothing at stake problem certainly. They need to be running of course a full node — full copy of the blockchain.And also in Dash we have two end-user functions which are like essential to our product, which is a coin-mixing for privacy, and which is instant confirmations to enable point-of-sale basically. They have like names for them, they call them like PrivateSend and InstantSend. And those functions are enabled by the masternode network. So, if a masternode has full copy of the blockchain, has proven that they own a thousand Dash — it’s like a cryptographic proof — and then runs PrivateSend and InstantSend, they get voting rights.So as a prime example of of how this voting mechanism like savedus scads of money and like eons of time, earlier this year Evan Duffield proposed to the network, should we raise our blocksize cap – which is one megabyte just like Bitcoin – should be raise our blocksize cap from one to two megabytes if and when the time arises that it is needed? And so all of these masternodes like voted and within 24 hours a large majority of the masternodes had voted yes, if we reach that point yes, bump up that block size cap. And it was done. Like consensus was reached within 24 hours.And so we see that just like this simple voting mechanism among like vested participants who are also you know, proving their service to the network — we don’t have to like get stuck on reddit being like, I don’t know about this ILoveBananas68 guy like, we can just clear through these potentially malicious actors actually and see what the network really wants. And and it seems like a small thing like this this whole voting thing, but it actually, I think, it may make all of the all of the difference. And like think about a centralized company.Like think about if you’re Samsung and your design department — like while they’re making a new phone or something — your design department conducts their meetings at like r/samsung. And anybody can go talk shit at r/samsung. And like these guys are like trying to make design decisions and all of these people are flooding in and it’s like, who works for Samsung? Who doesn’t? No, it’s crazy. Of course the design department at Samsung only takes the input of people who work at Samsung. And so, you know, with a decentralized cryptocurrency a new way just had to be invented of like having these discussions and coming to proven consensus.The second part of what I call, like, the boring backend — the stuff that Forbes and Bloomberg do not care about — is uh what I would call payroll. As I mentioned earlier, the Dash block reward, which is the new coins that are created per block — the inflation which is temporary until we reach a rate of zero inflation, and we’ll be left with roughly 19 million Dash — the Dash block reward is not consumed entirely by the miners like it is in pretty much every other network.And that is because we recognize that miners are just like one employee class that we need to function. There are two other employee classes that are vital to the functioning of a cryptocurrency. One of them is full nodes. And one of them is developers. Like core developers. And so the way — actually no, let me preface this with, okay what happens when miners do consume the entirety of new coins created?Let’s use Bitcoin as an example. They have the biggest market cap so it’s easiest to follow their developments as the most people notice them. So for example in Bitcoin, an 11 billion dollar network, miners consume the entirety of the block reward. That means that nodes are basically like volunteer. Like an attaboy thanks for supporting the network kind of position now.And so naturally it’s an economic law that whatever you subsidize you’ll get more of, whatever you tax you’ll get less of. So of course Bitcoins node count has dropped dramatically over the years, and will likely continue to drop because it’s a taxed position rather than a subsidized position the way mining is subsidized.In the development department we have seen that developers who are not getting paid from the block reward in order to have a livelihood, they have accepted sponsorship from third-party multinational corporations basically. It started out with the Bitcoin Foundation — that didn’t work so well. Then some developers took on sponsorship from MIT if I understand correctly. And then this newer company Blockstream is now paying a good portion of the core developers.And what is problematic is that decentralized profit models and centralized profit models are like this. They are like oil and water. There is no happy medium. There is no mixing of the two. Either the profits of a network are decentralized to all of its infrastructure or the profits of a network go to like the company, like the corporation, that is writing the paychecks for the core developers. Like there actually is no middle ground.And so that I believe, is the root of the Bitcoin blocksize debate. The decentralized profit model would be of cours,e to have no blocksize cap. And then the centralized profit model where say, for example, Blockstream needs to make a return on their investment — they’ve had a huge investment like what? Tens of millions, could it even have been hundreds of millions of dollars that was like, given to Blockstream?And of course the only way for them to pay back their investors is if they can find a way that the Bitcoin network can kick the majority of its profits back to Blockstreams like shareholders basically. Which is you know, that’s a way of doing things. But if Bitcoin doesn’t become a centralized company, if people like keep believing that it’s like decentralized peer-to-peer network, we’re going to continue having this problem because those two models just don’t mix. They’re like oil and water.So that is the kind of problem that arises if this third class of employees — developers – are not paid from the block reward either. And so that is the second way that I believe that Dash has knocked out these unglamorous fundamentals, which is to say that it pays forty-five percent of its block reward to its miners, forty-five percent of its blocke reward to its masternodes, and then ten percent is left, and we call that our treasury. And the masternodes vote on where to pay treasury funds to.So we’re currently — our largest treasury payout is going to our core development team. Masternodes vote on their salary. They can technically be fired. We could downvote their salary coming out of the treasury and we can hire a team who we think would do better. Pete and I are paid from the treasury. Our… There was a… I think there’s been wallet developers paid from the treasury. There’s this guy creating the Dash version of LocalBitcoins.com, he’s calling it Dashous. Dashous.com He’s being paid from the treasury. And in this way, all of our development efforts can remain like totally free of the influence of like third-party sponsors who naturally would like the profits of the network to go toward them, naturally.And so with governance knocked out and with the payroll — the problem of payroll knocked out — that has put Dash in a really good position to move into the space of, ok now how do we attract end-users? Like how do we stop feeling like PGP? How do we actually move in the direction that all of this capital in the space is betting that one of us is going to move in?And we are doing that with a layer of our blockchain that is set to launch in late 2017 in Alpha and it’s called Evolution. And I have dubbed it from the start like cryptocurrency your mother could use. And the way it will work will be very new, very unique to the space, in that the general… like the way we’re all used to logging into like online banking or PayPal or whatever, namely just like a basic user name and password and like the ability to say, conduct auto payments — like I pay you you know every month for whatever.I mean, think about how many payments in your life are like auto payments. It’s a lot. And no cryptocurrency can do auto payments right now, which already I think would leave us out of the running of global finance. And like the ability of say like, joint accounts, were like you and your wife can like share an account. These sorts of things that people are used to and that they expect.They will live in a layer on top of the Dash blockchain that’s being called Dash Drive and they will be directly accessible through what’s being called the world’s first decentralized API. So basically just using this decentralized API, DAPI, anybody will be able to launch a web or a mobile app and people can directly interface all without having to give your private keys to like any third-party service.It will be a way that people can feel like they’re using an online bank but they are their own bank. And even the private key won’t freak them out, because it’s not going to be like 34798zr whatever, it’s gonna be just like a 12 word seed, or whatever, right?So when you start an Evolution account you create a name and password, it gives you a seed, and from there you can log into any Evolution wallet. Like if the person who was hosting that particular Evolution wallet, like if they go down, if they lose power, if they go out of business, if… whatever, like your data is not gone. It’s not like ooooh you know, like imagine how many people would be like devastated if Coinbase just like disappeared tomorrow. Or Poloniex disappeared tomorrow. That would be a problem.So with Evolution you can sign into any Evolution wallet. You hold your private keys, and your username and password are encrypted in the Dash Drive, so it’s like, not a problem. And… If you’re interested in seeing screenshots of this product, last week’s episode of DASH: Detailed featured screenshots of it.And then actually the episode I release tomorrow is an interview with Evan Duffield where he is going to go like screen-by-screen through the Evolution prototype and basically just describe what’s going on on the backend. The most — no it’s not the most — the most exciting part of Evolution is the usability.But the part that I think will enable us to be a serious competitor with banks, to be like, to be a contender, to be like a real competitor out there, and we’ll also at the same time beautifully continue to basically decentralize our infrastructure, like continue to add infrastructure to our network, is what is being called Decentralized Masternodes Shares.Now from the user-end experience again, like the market we are hoping to get, like they might not even ever hear the word masternode, and we hope that they don’t need to hear the word masternode or anything, to use any of our products.But what it feels like on their end is like, in their Evolution wallet, if they put some Dash into a savings account that Dash can earn them what, maybe like 4- 5- percent, maybe even six- percent annual like return-on-investment? Like out-of-this-world way more than say what, like I don’t know, like Chase or Wells Fargo are paying on a savings account right now, or in some places in the world, isn’t it negative interest rates in banks now? Okay so this is like way outclassing that sort of model. And that’s what the user sees, they’re like, my god my savings account earning me six percent a year, this is awesome.What’s happening on the backend? Is that something like a secondary private key that basically just acts as a form that proves that they have like collateralized something in their savings account — they don’t know that they’re providing collateral but its collateral — its collateral for another masternode.So when a bunch of people put their savings, put Dash into a savings account, like a secondary private key is being combined with the secondary private keys of like a bunch of other users until a thousand Dash are reached, and then oh, what is that prime for? The launching of another masternode.Who launches the masternode? Certainly not average Joe user or like, your grandmother. I don’t even think I could launch a masternode it’s really complex — I’ve read through the guides. So what’s happening is that this collateral is now available to be launched up in a masternode by like some tech guy who just, he doesn’t have the collateral himself, but anybody who wants to launch a masternode and earn a portion of its rewards can pull from the collateral of any and all of our users, and then launched it that way. That way like, everybody wins.The masternode operator gets to keep a portion of the payouts even though he didn’t he didn’t have the full thousand Dash himself. And all of our users who didn’t have a full thousand Dash either, who just wanted to earn some return on their savings, they get a portion of that masternode payout also. And all the while this is just like growing our infrastructure, growing our infrastructure.And so, those reasons basically are why I think that Dash is the only major cryptocurrency right now heading in a way that is not a bubble. Because any network which does not break out of this like PGP phase, where like only nerds basically can grasp how to use it — or if you’re not a nerd you leave your coins in Coinbase because you can’t figure out like how to do backups yourself, and you can’t figure out how to like generate new addresses, and you wouldn’t know the word like Electrum if you heard it, right? That kind of stuff. Like your mom, think about your mom honestly. Dash is the only coin heading in a direction where your mom could legitimately use it.And if the capital in the space is betting that one of these networks will become usable as a currency the end… the user… usability at the end level will have to be like that. Because if not, if what people are hoping for is just that, oh everybody will use Coinbase or a competitor of Coinbase, like we will definitely have failed in the mission to be able to be your own bank . Like it’ll just be Bitcoin banks. I’ll be… That’s the stupidest thing I ever heard.So that, I mean, that’s why I’m so like bullish on Dash. And I’m like, willing to you know, like risk my personal reputation on it because I’m so interested in money. I’m so interested in this space succeeding. And I’m so interested in this not having turned into the equivalent of tulip mania where we were all like thinking, like this is the best thing ever, but you know, none of us thought to make it usable. So that’s really the majority of what I wanted to talk about tonight.If I had a note to end on it would be, I think that Dash is, right now, where Bitcoin was in 2012, in that it’s not like super easy to get yet, like there isn’t like a Coinbase of Dash. We’re just barely working on our first equivalent of LocalBitcoins.com.So it’s kind of like the 2012 version of Bitcoin where you know, we maybe have like 60 merchants accepting it, that sort of thing. Except instead of how using Bitcoin still feels like using PGP, how it still felt like using PGP a year later in 2013, in a year from now Dash will feel like using PayPal. And you’ll get to, you’ll get to be your own bank.Dash Evolution: http://dash.org/evolutionMusic: “We Are One” by Vexento https://www.youtube.com/watch?v=Ssvu2yncgWU
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