Dash Evolution Explained | Battle Against PayPal | Technical Analysis

bunnychum (66)in #cryptocurrency • 7 years ago (edited)

Dash has been one of my top favorite Crypto Currencies, since it changed it's name from DarkCoin to DASH - The Digital Cash. This very name gave me an instant thought, Dash must be the future of Digital Payment System based on Blockchain.

From that point of time Dash has always been clear to it's motive of becoming the most friendly and fastest digital payment system based upon blockchain technology.

This is the time we have been waiting for, Dash announced earlier this year, they are working on a prototype i.e. Dash Evolution. Although it gave us a nice idea, what it is going to do or what will be the upgrade but still we knew, Dash is on to something which is not fully disclosed till that time.

In recent update Dash has rolled out, It's roadmap for 2018 including Dash Evolution update. According to this Dash Evolution will be release in June 2018 for public use. you can read about Dash road map for 2018 on their official blog here.

Why I think this would be a Revolution in Crypto Space?

Making it Super Friendly

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Anyone who is in crypto space for investments or trading knows the pain, using alpha numeric and long wallet address that doesn't make any sense. You can't remember it you can't say it at all.

In order to reach the mass adoption for any crypto currency, the very first thing which requires is to ease of usage. Where a person, who is completely non-technical, would like to send their money to bunnychum (probably a username or alias) instead of sending funds to a address like XjuVqmzwYL9zJC41nuJ6kmXCbHHjg66YSj (My Dash Address for Accepting Donations).

Dash Evolution's very first step is to provide alias to every dash user, in order to send/receive payments with a username/alias, as shown in the image above.

Making Transactions Super Fast

Even at this point Dash has a feature called "Instant Send", with the help of this feature, Dash can transfer value at a lightning speed. Even without that feature it takes less than 5 minutes precisely for transactions to go through and get confirmed.

This might get even more interesting, when evolution comes out. Unlike bitcoin with 2MB blocks currently. Dash has already decided to jump up and significantly increase the block sizes, with Evolution upgrades, which will make the transaction even more faster than they are right now.

To make this happen without any issues. Dash has announced recently, Their master-nodes will have to increase their server specifications as the time goes by with evolution upgrades.

Becoming First Successful DAO Model

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DAO stands for Decentralized Autonomous Organization. Dash is a perfect example of DAO at the present time and seems to be in near future as well. There are number of points which supports this statement.

Dash's block reward system is uniquely designed. Every block reward gets distributed in the order of 45% - 45% -10% which gets distributed very fairly i.e. 45% to x11 Dash Miners, 45% to Master-Nodes and rest 10% goes in a treasury fund account. Which creates amazing project funding support for Dash Network, Way more than any other crypto currency including Bitcoin.

Funds sitting in Treasury Accounts can be claimed by anyone, who wish to work for dash upon the approval of respective proposals based upon master-nodes voting system of-course. Amanda B Johnson created an amazing example of getting paid directly from the Dash's Treasury fund account. If you wish to submit a proposal for dash, you can do this by clicking here. Although it's highly recommended that you submit a pre-proposal on Dash Forum here, in order to get a better idea on how people would react upon your proposal as submitting a proposal directly to Dash is not free or even cheap, this would cost you 5 Dash, which is a very high fee.

Becoming PayPal Killer

The most exciting feature of Dash Evolution is being Merchant Friendly. Where any merchant in the world can easily integrate day as payment gateway on the website, without worrying about the high transaction charges which PayPal applies.

We have seen this in the past, when PayPal banned Wikileaks' account for funding, When Satoshi Nakamoto suggested Wikileaks to start accepting Bitcoins instead.

With ease of usage by providing username/alias and being merchant friendly in the future, Dash will open up the doors for many new people, to start making money transfers via crypto currencies instead of using centralized services such as paypal.

I am feeling very positive about the move #Dash has taken to roll out the revolutionary #DASHEvolution. I hope i haven't missed anything. Please feel free to correct me with valid points. Also let me know your thoughts on Evolution coming up in the comment section below.