Bitcoin Forum
April 27, 2024, 11:44:42 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Question: can anyone explain to me how dash instant pay works?  (Read 276 times)
Jibreel (OP)
Newbie
*
Offline Offline

Activity: 9
Merit: 1


View Profile
May 24, 2017, 10:52:09 PM
 #1

from ehat I understand... the node are the ones that provide conformation for the transaction. Does this mean that this process is happening outside of the blockchain? Or are the master nodes providing conformation of the payment by checking the blockchain to see that funds are available... and then the instant pay transaction will be included in the next block?

And does this mean that even though the master node, the sender and receiver see the transaction as having gone through, the rest of the network will only be made aware when the next block is created. So what's the difference between that and in Bitcoin when you wait until the next block for conformation.

Really just wondering about the actual mechanics of how this works. And how this is an improved solution over others?

Thanks.
1714218282
Hero Member
*
Offline Offline

Posts: 1714218282

View Profile Personal Message (Offline)

Ignore
1714218282
Reply with quote  #2

1714218282
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714218282
Hero Member
*
Offline Offline

Posts: 1714218282

View Profile Personal Message (Offline)

Ignore
1714218282
Reply with quote  #2

1714218282
Report to moderator
1714218282
Hero Member
*
Offline Offline

Posts: 1714218282

View Profile Personal Message (Offline)

Ignore
1714218282
Reply with quote  #2

1714218282
Report to moderator
1714218282
Hero Member
*
Offline Offline

Posts: 1714218282

View Profile Personal Message (Offline)

Ignore
1714218282
Reply with quote  #2

1714218282
Report to moderator
Jibreel (OP)
Newbie
*
Offline Offline

Activity: 9
Merit: 1


View Profile
May 25, 2017, 12:14:03 AM
 #2

Have I worded this in a muddled way? Or is this the wrong place for this question?  Huh
ArticMine
Legendary
*
Offline Offline

Activity: 2282
Merit: 1050


Monero Core Team


View Profile
May 25, 2017, 12:40:47 AM
 #3

A subset, I believe it is fifteen, of the masternodes is randomly chosen and they then vote on approving the transaction. If a majority votes for approval then the transaction is approved.  One can compare this to having fifteen banks randomly chosen to approve a transaction instead of just one bank approving a transaction as is the case with a typical centralized ledger.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!