What is DASH?

Difference between DASH and Bitcoin

  • Bitcoin takes too much time to be accepted in point-of-sale(POS) application due the requirement for the network to varify the transactions.
  • Dash is based on the work of Satoshi Nakamoto with built-in privacy functions.
Twitter user: @Marc0chip

 

Dash Masternode Network

  • Full node servers running P2P networks receieve updates and events about the network
  • The new reward scheme has been proposed Microsoft Research and Bitnodes incentive program
  •  Nodes provide the network with the ability to synchronize and fast broadcast messages throughout the network.
  • Dash masternodes have high availability and provide the standard amount of service needed to the network to take part in the masternode reward program.
  • Masternodes are full nodes, just like the bitcoin network but the owner of the node must provide a standard of service and and a collateral to participate.
  • The operator must have control over 1000 DASH should be online to provide service.
  • Masternodes are all paid from the block reward program, 45% of all DASH is dedicated to this program.
  • The reward for a particular day can be calculated using the formula (n/t)*r*b*a

Where:
n is the number of masternodes an operator controls
t is the total number of masternodes
r is the current block reward (presently averaging about 3.3 DASH)
b is blocks in an average day. For the Dash network this usually is 576.
a is the average masternode payment (45% of the average block reward)

 

Deterministic ordering

  • A special algorithm is used to create a pseudo-random ordering of the masternodes.
  • This is done so every masternode as a random chance of being selected to verify the transactions

 

Trustless Quorums

  • Let us assume the dash network has 4800 active masternodes.
  • Each masternode as a collateral of 1000 DASH, which means 4,800,000 DASH is collateral.
  • To control the Dash network an attacker would need to buy 1000 DASH on the open market. Buying this amount is almost impossible as the price would also increase linearly.
  • There is also the pseudo-random order generator which does not guarantee the transactions validated will be from the attackers node.

 

Masternode Protocol

  • The status of the node is broadcasted to the network using protocols.
  • Only two messages are needed to activate your Masternode:
  1. Masternode Announce Message
  2. Masternode Ping Message
  • Other messages are proof-of-service message, PrivateSend,and InstantSend.
  • Masternodes are formed by having 1000 DASH in a single address in the Dash wallet and will make it capable of  being propagated across the network.
  • A secondary private key is used henceforth for signing.

 

Cold mode

  • Cold mode is possible by using  the secondary private key on two different machines
  • The “hot client”, the machine holding the 1000 DASH, signs the 1000 DASH input including the secondary key in the message.
  • The “Cold client” see the message which includes the secondary key and activates as a  masternode.
  • Now the “hot client” can deactivate and leaves no possibility of an attacker gaining access to the masternode.
  • When a masternode is started it sends a “Masternode Announce” message to the network.Message: (1K DASH Input, Reachable IP Address, Signature, Signature Time, 1K Dash Public Key, Secondary Public Key, Donation Public Key, Donation Percentage)
  • After that a ping message is broadcasted proving the node is still alive.  Message: (1K DASH Input, Signature (using secondary key), Signature Time, Stop)

 

PrivateSend

  • Dash believes in a standard teustless implmentation to improve privacy.
  • PrivateSend is an extended version of the CoinJoin by employing a series of improvements such as decentralization, strong anonymity by using a chaining approach, denominations and passive ahead-of-time mixing.
  • Lets say 0.5 BTC was sent. Private send will break apart the transaction to, for example, 0.3+0.19+0.01=0.5
  • The more transactions going through the mixer exponentially increases the difficulty
  • These sessions though can be de-anonymized at any point in the future.

 

InstaSend

  • Using masternode Quorums, users can send and receive DASH instantly.
  • Once there is a quorum, the transaction is locked and can only be spent on that transaction. This transaction lock takes around 4 seconds.
  • This feature allows point-of-sale applications and also face-to-face transaction.

 

 Dash Updates/Improvements

 

Click here if you want to know how to BUY DASH

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