Dash is considered as one of the next-generation cryptocurrencies. Dash is based on the idea of Bitcoin (blockchain), in addition to adding other elements of its own such as master nodes, which is a structure that allows a DAO (decentralized autonomous organization) to function within the Dash ecosystem. It can also be said that Dash is the first digital currency to have a two-tier network.
The first level is made up of the miners who are the ones who record the transactions on the blockchain, and then the second level is made up of the Masternodes, which are the servers that allow the operation of privacy and instant transactions. Dash is currently the seventh-largest digital cryptocurrency on the market and is widely accepted by application stores. It is operated and transferred through an open-source platform, among equals, which reduces the need for operators by having total independence from banks to make funds transfers.
How does Dash work?
This digital currency for its operation makes use of a system called P2P which means Peer to Peer that allows confirming transactions that are based on Masternodes or Master nodes, this is what is known as Dash Masternode Network, which consists of a network servers, known as Master nodes, and can be owned by users who have more than 1000 Dash in their possession.
Dash adjusts the percentage per reward
On April 10, 2020, Dash decides to reduce its block rewards by 7.14%, which will allow the network to alleviate inflation and, at the same time, facilitate the transition to a network that is based on rates. Dash reduces its coin issuance rate by 7.14% for every 210240 blocks, which is equivalent to every 383.25 days. They are part of the changes the network is making in order to update the protocol core network.
Dash Core Group, is the entity responsible for the development of the cryptocurrency with a focus on privacy, Dash made public on September 30, 2020, the changes made in the Proof Of Stake (POS) network. Dash Core v0.16.0.1 binaries have been released and are ready to be deployed to the main net by node operators. Advertisers claim this is a major release as well as being a must-have update for all miners and Masternodes.
Improvements in this update
This update results in the improvement of the Dash ecosystem in several ways, among which we can mention the methods for confirming the appropriate software in order to maintain a master node, likewise, there are improvements in the user interface of wallet and gives better anonymity capabilities when using the privatesend, and also, the option of «coin mixes» without the custody of the project.
This update includes the adjustment of the percentage per reward per block that allows improving Dash’s economy, thus facilitating the transition towards sustainable rates. Dash’s adjustment is gradual, which will allow enough time for the network infrastructure, technology and community to develop at the rate change, in order to self-sustain the network.
What do you think about this topic? Do you think this update will bring benefits to Dash users?
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