The un-F**kable Dash: The value of governance amidst the Bitcoin Cash explosion and the coming Rise of the coin that won't Fork.

in #cryptocurrency6 years ago

There have been lots of stuff going on with the free market of cryptos. Forks are one of them. Personally I'm in for whatever that's cheap, fast, private and can kick the bankers to the curb. Forks are part of a free market. It allows currency competition. But there also comes some rare gems like this:

So what does this actually mean? It means Dash can't and won't fork. It has governance. It's a 2 tier network. Imagine there was a company. You can buy 1 out of every 7.6K shares of the company and become a board member. Instead of the company paying the board-member, it shares 45% of the profit with the 4500+ directors of the company. How well do you think the company would do?

First of all, an alternative scenario:

I support Bitcoin Cash as it's cheaper, faster and exactly what Satoshi envisioned here: https://bitcoin.org/bitcoin.pdf

There will be no Digital Gold in a world where Bitshares exist. My reason? This: https://coinmarketcap.com/exchanges/bitshares-asset-exchange/

So what's the use of Bitcoin? Well, it had its use. What about Cash? https://steemit.com/bitcoincash/@vimukthi/a-love-letter-from-dash-to-bitcoin-cash-and-roger-ver-my-venture-into-the-crypto-sphere

I love it. But it's boring. It's not private. It's not instant. It has no self-funded treasury to keep outside influence away. I think Roger Ver is doing a very good job and I genuinely think he's a great guy. But Dash is the real beast.

Too many messy things happen when nobody is in charge. It's called [A tragedy of the commons.](https://en.wikipedia.org/wiki/Tragedy_of_the_commons) The decisions of Dash and other coins that ripped off the system let the decision making to those who put the money in and have a large stake in. It's kind of like DPoS but with a PoW system adding extra security. Whenever decisions are needed, the Masternodes decide. What to do with the block size (non)issue? It took some hours. The decision was 400MB blocks and beyond. That's right 400MB. 

Whenever issues arise, Dash decide and move on. Problems never lead to forks. Dash doesn't need forks. Dash solves the problems with governance. Some might tell me that DPoS is still better and that I should leave everything to Bitshares. The proposition isn't without merit. But Dash has unbroken privacy and PoW.

https://www.reddit.com/r/dashpay/comments/65fz68/dashs_privacy_feature_has_never_been_broken_turns/

Some may view PoW as a negative. But what if we use it in a different way. What if we start looking at PoW differently. I've extensively presented my case here in my previous post and I welcome you to check it out.

https://steemit.com/cryptocurrency/@vimukthi/the-case-for-pow-as-a-service-komodo-dash-and-mining-algorithms-discussion

See you next time and Let's witness the Moon of a coin that doesn't fork. Period.

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Great article. Well analysed.


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Very good, PoW have shown resilience over years, PoS and DPoS still needs more research and mostly attacks in order to create the confidence that have PoW systems securing over 150B of the market.

That's one of the main reasons I prefer Dash over PIVX. Also there is the ability to recycle hash power to make other blockchain projects more secure. I got the idea from the clever folks at Komodo and I expanded upon it: https://steemit.com/cryptocurrency/@vimukthi/the-case-for-pow-as-a-service-komodo-dash-and-mining-algorithms-discussion

PoW may be a waste of energy, but it is brute force security. Software can be meddled with smartness as they are built on smartness. But raw power is raw power. It'll be great if Dash migrate to X17 as I believe 17 algorithms should be more secure than 11. But there might be efficiency issues. IDK as I'm not a cryptographer.

And think how less toxic the entire blockchain space be if BTC and BCH just recycled a common SHA-256 mining process. But that's not happening with Bitcoin wars. It'll be super cool if PIVX did that. That would make PIVX get linked with Dash. But being similar coins, I don't see much of a problem with this.

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