The Dash Standard: The Decentralized Alternative to Bitcoin


The Dash Standard: The Decentralized Alternative to Bitcoin

The Bitcoin standard has achieved notoriety in the cryptospace, particularly among Bitcoin Maximalists. It explains how Bitcoin is hard money and lays out how Bitcoin can only remain decentralized by maintaining a small blockchain run by enthusiasts. Without which the network will lead to centralization as the nodes become too expensive to run.

Everything said in the book is correct, except there is one false premise. That the economic model of Bitcoin cannot be improved upon. When comparing Bitcoin and Dash, this is the significant difference. The blockreward being split between miners and masternodes allows for onchain scaling that is simply not possible in Bitcoin. Dash has all the hard-money properties of Bitcoin professed in the book, without having to make any concessions for accessing the network. Dash can scale onchain with instant transactions, instant settlement and a coherent economic model that can facilitate an enormous blockchain size without succumbing to centralization. How? Simply by paying the nodes.

The Bitcoin alternative is a model based on altruism. Even capped at 1mb blocks, why would someone want to run a fullnode when it becomes expensive to do so? They isn't a great reason. Meanwhile, their ' scaling solutions' push out billions of people who can't afford to use the network. In effect centralizing who can hope to use the network – very rich individuals and corporations. No thanks.

Looking forward Dash is the only POW blockchain that I know of that is capable of remaining trustless and permissionless thanks to its economic model that allows it to remain decentralized while scaling to meet global demand.

If you don't believe me I challenge you to model your assumptions out. I've done so, and I am confident that Dash's economic model can facilitate this scaling. Ask me for it and I will share it with you.

My analysis concludes that Cointiply is still the best free bitcoin faucet.
Submitted by mikenewhouse
via reddit https://ift.tt/36PpkQX

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