[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency

[110110101]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

Dash has been founded in 2014, is three years old and currently has 2.6 GB blockchain size
Blockchain bloat is not and will not be a problem for Dash.

The Masternode network will continue to carry the full blockchain and getting rewarded for it, while the Dash Evolution update (end 2017) will enable Lightweight wallets / SPV wallets for endusers / merchants.

I recall from way back in the Darkcoin days, there was mentioning of blockchain pruning as a way to reduce the size of the blockchain, keeping a number of hashes representing a certain number of blocks and mainly for light clients. I do not know if this is still feasible or not, the masternodes already provide a very strong and reliable 2nd tier backbone to the Dash network. Would this still be necessary or is it not a requirement anymore? The light client can probably query the masternodes for whatever transactions are being asked for.

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[qwizzie]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

Dash has been founded in 2014, is three years old and currently has 2.6 GB blockchain size
Blockchain bloat is not and will not be a problem for Dash.

The Masternode network will continue to carry the full blockchain and getting rewarded for it, while the Dash Evolution update (end 2017) will enable Lightweight wallets / SPV wallets for endusers / merchants.

I recall from way back in the Darkcoin days, there was mentioning of blockchain pruning as a way to reduce the size of the blockchain, keeping a number of hashes representing a certain number of blocks and mainly for light clients. I do not know if this is still feasible or not, the masternodes already provide a very strong and reliable 2nd tier backbone to the Dash network. Would this still be necessary or is it not a requirement anymore? The light client can probably query the masternodes for whatever transactions are being asked for.

I think there is even a prune option in current Dash wallet where we inherited code from Bitcoin

Edit : i have not found it yet on our Wiki : https://dashpay.atlassian.net/wiki/display/DOC/Command-line+arguments+12.0
(these are the commandline arguments for v12.0)

[ddink7]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

The issue with Bitcoin isn't bloat, per se. The problem is that Bitcoin doesn't incentivize people to run full nodes, meaning that once the blockchain grows to a certain size, it becomes more difficult and/or expensive to run a full node. It also becomes more time consuming to start a full node, due to the very long syncing process. Dash mitigates that with the masternode network. Masternodes are full nodes with a full copy of the blockchain. Since they are incentivized from the block reward, there is no problem getting people to run them.

[AforAmethyst]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

Dash has been founded in 2014, is three years old and currently has 2.6 GB blockchain size
Blockchain bloat is not and will not be a problem for Dash.

The Masternode network will continue to carry the full blockchain and getting rewarded for it, while the Dash Evolution update (end 2017) will enable Lightweight wallets / SPV wallets for endusers / merchants.

Here's my concern and you have highlighted it very well in your second paragraph. Dash will do doubt be used more as the number of payment providers increases. Mass adoption, if it happens, is bound to affect capacity available in each block. How can you say so definitely that blockchain bloat won't be a problem in the future?

By saying that lightweight wallets in an indirect way are a possible solution to blockchain bloat suggests that it will be a problem if Dash is widely adopted on an international scale. Lightweight wallets are off the blockchain and as such could be viewed as being prone to becoming centralized with all the perils associated with centralization.

By the way, I was stimulated to post after seeing the recent Bitcoin Core vs Bitcoin Unlimited debate which was mentioned in this thread the post before my original. Basically, I'm trying to work out which coins to concentrate on.

[AforAmethyst]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

The issue with Bitcoin isn't bloat, per se. The problem is that Bitcoin doesn't incentivize people to run full nodes, meaning that once the blockchain grows to a certain size, it becomes more difficult and/or expensive to run a full node. It also becomes more time consuming to start a full node, due to the very long syncing process. Dash mitigates that with the masternode network. Masternodes are full nodes with a full copy of the blockchain. Since they are incentivized from the block reward, there is no problem getting people to run them.

Thanks for your explanation. Trying to get my head around Master nodes running full blockchains that sidechains (?) can run on. I read somewhere that that isn't a solution to blockchain bloat. Would appreciate enlightenment if I am getting this wrong.

To put things into a nutshell, I'm trying to work out whether to keep Dash, or sell while the price is high.

[ddink7]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

Dash has been founded in 2014, is three years old and currently has 2.6 GB blockchain size
Blockchain bloat is not and will not be a problem for Dash.

The Masternode network will continue to carry the full blockchain and getting rewarded for it, while the Dash Evolution update (end 2017) will enable Lightweight wallets / SPV wallets for endusers / merchants.

Here's my concern and you have highlighted it very well in your second paragraph. Dash will do doubt be used more as the number of payment providers increases. Mass adoption, if it happens, is bound to affect capacity available in each block. How can you say so definitely that blockchain bloat won't be a problem in the future?

By saying that lightweight wallets in an indirect way are a possible solution to blockchain bloat suggests that it will be a problem if Dash is widely adopted on an international scale. Lightweight wallets are off the blockchain and as such could be viewed as being prone to becoming centralized with all the perils associated with centralization.

By the way, I was stimulated to post after seeing the recent Bitcoin Core vs Bitcoin Unlimited debate which was mentioned in this thread the post before my original. Basically, I'm trying to work out which coins to concentrate on.

I can't really say that bloat will definitely never become a problem, but I don't find it likely. Even if it did, Dash's team has shown remarkable ability to solve unexpected problems. At one time, Evan discussed pruning a bit and seemed to think that it could be done. Since Dash's blockchain was (and is) so small, it wasn't something to spend dev resources on at the time.

Consider for a moment that mass adoption has swollen the size of Dash's blockchain to 5 TB:

Mass adoption will have led to much higher prices, meaning that masternode rewards will be much larger (in fiat terms). Right now a masternode makes about 8 DASH per month. Supposing that DASH was worth $1000 each, that masternode would earn $8,000 per month. However, in order to do that, the masternode must store and serve up the entire blockchain, which requires 5 TB of space. I did a quick perusal (I'm sure there are much cheaper options) and Vultr offers a 300 GB VPS instance for $160 per month, with additional storage available for $1/10 GB/month. To serve a 5 TB blockchain, a masternode owner would pay Vultr about $630 per month out of the $8,000 per month in masternode rewards.

Because there are 4500 masternodes, the blockchain is highly decentralized already. If the community felt that 4500 full nodes was too centralized, we could reduce the masternode collateral and thus create more masternodes. If we reduced the necessary collateral from 1,000 DASH to 250 DASH, we would (theoretically) end up with about 18,000 masternodes. Each one serves the full blockchain. Consumers could use SPV wallets without centralization fears, because incentivized masternodes hold the blockchain.

[ddink7]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

The issue with Bitcoin isn't bloat, per se. The problem is that Bitcoin doesn't incentivize people to run full nodes, meaning that once the blockchain grows to a certain size, it becomes more difficult and/or expensive to run a full node. It also becomes more time consuming to start a full node, due to the very long syncing process. Dash mitigates that with the masternode network. Masternodes are full nodes with a full copy of the blockchain. Since they are incentivized from the block reward, there is no problem getting people to run them.

Thanks for your explanation. Trying to get my head around Master nodes running full blockchains that sidechains (?) can run on. I read somewhere that that isn't a solution to blockchain bloat. Would appreciate enlightenment if I am getting this wrong.

To put things into a nutshell, I'm trying to work out whether to keep Dash, or sell while the price is high.

Not sure I understand the reference to side chains? Dash doesn't use sidechains, and it's highly unlikely Bitcoin will ever get around to implementing them either (since they can't even solve scalability).

[MasterMined710]

Dont forget to upgrade your MN's to 12.1.2 Smoothie - also Sentinel to 1.01 as well.

Thanks!

I think you are thinking of smooth not smoothie. Smooth is the monero dev that holds Dash masternodes, smoothie is just a monero bag holder.

[afbitcoins]

I have a modest Dash holding from when Dash was a lot cheaper than it is now with the current price spike. I hold other coins too. What I'd like to ask is this -

Is Dash immune from blockchain bloat and, if it isn't, whether this will be an issue at some point in the future?

The issue with Bitcoin isn't bloat, per se. The problem is that Bitcoin doesn't incentivize people to run full nodes, meaning that once the blockchain grows to a certain size, it becomes more difficult and/or expensive to run a full node. It also becomes more time consuming to start a full node, due to the very long syncing process. Dash mitigates that with the masternode network. Masternodes are full nodes with a full copy of the blockchain. Since they are incentivized from the block reward, there is no problem getting people to run them.

Thanks for your explanation. Trying to get my head around Master nodes running full blockchains that sidechains (?) can run on. I read somewhere that that isn't a solution to blockchain bloat. Would appreciate enlightenment if I am getting this wrong.

To put things into a nutshell, I'm trying to work out whether to keep Dash, or sell while the price is high.

Not sure I understand the reference to side chains? Dash doesn't use sidechains, and it's highly unlikely Bitcoin will ever get around to implementing them either (since they can't even solve scalability).

My perception is that sidechains are a bad idea anyway, better to use alts than bitcoin side chains which would be very constraining. Dash incentivised nodes seems like the best way forward than I'm aware of.

You can compare number of full nodes on popular cryptos, Dash with much smaller market cap already has similar number of nodes to bitcoin. Contrast with Monero which only has a few hundred nodes. Not sure about eth I don't see any innovation there in terms of scaling blockchain in fact it will bloat worse than bitcoin.

Having said all that at the moment Dash has had a great run, maybe it can run to new highs versus bitcoin but its at a similar level now where previous runs have ended so realistically the option of selling while high should be considered. This isn't trading advice, personally I'm holding at the moment.

[MasterMined710]

By saying that lightweight wallets in an indirect way are a possible solution to blockchain bloat suggests that it will be a problem if Dash is widely adopted on an international scale. Lightweight wallets are off the blockchain and as such could be viewed as being prone to becoming centralized with all the perils associated with centralization.

The Dash evolution release will solve that problem. Maybe someone can post the direct link to that info or i will do it later. Got to run for now.

[AforAmethyst]

@qwizzie, @110110101, @ddink7, @MasterMined710, and @afbitcoins

Thanks for the informative and considered responses so far. I've got some serious thinking to do.

[dafdaf]

@qwizzie, @110110101, @ddink7, @MasterMined710, and @afbitcoins
Thanks for the informative and considered responses so far. I've got some serious thinking to do.

Please join the Dash Nation Slack channel, a friendly place for all other questions. ;-)

[qwizzie]

Another Dash rise coming up ?

Dash : 0.0243000

https://dc-charts.com/depth_dash.php?ex=16&cu=0&tz=5&ar=1
4.1K buy order at 0.02390000

Edit : and buy-order gone again    

Must be whales playing whales games 

[BrainShutdown]

Another Dash rise coming up ?

Dash : 0.0243000

https://dc-charts.com/depth_dash.php?ex=16&cu=0&tz=5&ar=1
4.1K buy order at 0.02390000

Edit : and buy-order gone again    

Must be whales playing whales games 

Maybe testing the waters...

Another spork activation successfull

Only instantsend left to activate

[qwizzie]

Another Dash rise coming up ?

Dash : 0.0243000

https://dc-charts.com/depth_dash.php?ex=16&cu=0&tz=5&ar=1
4.1K buy order at 0.02390000

Edit : and buy-order gone again    

Must be whales playing whales games  

Maybe testing the waters...

Another spork activation successfull

Only instantsend left to activate

That is good to hear.. thanks.

edit : Look at that, 4 pages already of fully paid masternodes : https://www.dashninja.pl/blocks.html

[Otoh]

https://www.caseyresearch.com/articles/meet-bitcoin-jesus has a bunch of subscribers, just mentioned:

" A Natural Market for the War on Cash

Your financial privacy is under assault by the War on Cash.

Every day, we get closer to a world where the government can peer on every single one of your purchases.

Fortunately, Roger told me about a new cryptocurrency that can protect your privacy more effectively than bitcoin.

It’s called Dash. We recommend you look into it. "

[Otoh]

lol, some wishful BTC thinking:



  (I gave 10 BTC [$12,000] to this site & they don't even let ppl post an Imgur gif) link: http://imgur.com/T8yrzgQ

Edit for my 4am fail

[MasterMined710]

By saying that lightweight wallets in an indirect way are a possible solution to blockchain bloat suggests that it will be a problem if Dash is widely adopted on an international scale. Lightweight wallets are off the blockchain and as such could be viewed as being prone to becoming centralized with all the perils associated with centralization.

The Dash evolution release will solve that problem. Maybe someone can post the direct link to that info or i will do it later. Got to run for now.

Here is the basic info, more detailed info can be found in the EVO whitepaper but it is basically a decentralized SPV wallet via the masternodes....

LIGHT WALLETS
Evolution will introduce a new type of light wallet which will have SPV security and browser compatibility. This wallet will connect directly to our P2P network of over 4,000 nodes.
https://www.dash.org/evolution/

[MasterMined710]

lol, some wishful BTC thinking:



  (I gave 10 BTC [$12,000] to this site & they don't even let ppl post an Imgur gif) link: http://imgur.com/T8yrzgQ

Love it, tweeted!

lol, for some reason i saw the pacman as dash, someone needs to remake it!

tweet deleted, for now

[Bobo81]

Good to see a such great coin growing every day!