How to mine Dash for Free

Dash (DASH) guide
Tue, 05/15/2018 - 13:38
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    As mentioned above, each masternode can make a proposal concerning implementation of new features, changes or marketing strategies.

Cover image via U.Today
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Decentralized Governance

If the majority of nodes disagree with the new rules, they can make a new coin which results in splitting Bitcoin by means of creating so-called “hard forks”. Hard forks represent divergence from the currency which leads to the creating of two separate blockchains with different codebase. There are already numerous Bitcoin forks (including Bitcoin Gold, Bitcoin Cash and even Dash) which can potentially damage the value of the currency. In order to avoid such fragmentation, Dash has established an innovative decentralized blockchain-governance model.

As mentioned above, each masternode can make a proposal concerning implementation of new features, changes or marketing strategies. Each power user has exactly one vote, but if he operates more than one masternode the number of his votes proportionally increases (for example, 10 masterdones = 10 votes). For a certain proposal to be enacted, the number of votes in favor of the proposal should be higher than those opposing it by at least 10%. If a new change or proposal is approved, it gets money from the block reward.

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There are currently about 4,700 masternodes on the Dash network which are owned by about one thousand operators. At the same time there is a team of developers who have to make regular coding decision. Of course, it doesn’t make any sense for all power users to vote on every day-to-day decision. But when the current tack of the development team contradicts with the vision of investors, their funding can be cut. Furthermore, masternodes have the authority to fire the current developers and hire new programmers.

Another major advantage of the decentralized voting system is its transparency. The general public has access to all the proposals and voting results. Even those who are not members of the Dash network can view all current projects at https://dashvotetracker.com/ and see the number of votes. Such an approach is undoubtedly more progressive compared to major cryptocurrencies like Bitcoin and Ethereum which are still far too centralized

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About the author

George Shnurenko is a Bitcoin and cryptocurrency enthusiast, financial analyst and writer. He's majoring in history but he believes that the digital currency which has taken the world by storm will bring about change to all us humans. 

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