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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 8529629 times)
TaoOfSaatoshi
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September 28, 2015, 08:35:22 PM

Comfortable, trustless masternode budget voting - Dashwhale.org

We are very exited to announce the launch of our new voting service, allowing you to comfortably submit your DASH budget votes via the Dashwhale website. For the setup, you simply have enter your masternode privkeys on your masternode settings page. These privkeys are encrypted in your browser with a passphrase, to ensure, that even we don't have access to your privkeys. To cast you votes, simply press the "Vote YES" or "Vote NO" button on the proposal page, enter your passphrase and you are done.

Nobody likes to fiddle around with the DASH wallet on command line, to vote for the large amount of budget proposals. We hope, comfortable & safe voting via the Dashwhale website, will further improve voting activity.

https://www.dashwhale.org

Special thanks deserve UdjinM6 (raw voting and js signing) and Evan (concept of trustless voting).

Best,
Rango

P.S. Feel free to audit the javascript code and client/server communication. If somebody want's to post the screenshot on my behalf: https://www.dashwhale.org/downloads/dw_screenshot7.png I still can't post screenshots due to some kind of image post lock.

Site is down ATM. "502 Bad Gateway"

working for me.
Yep, back up!

When you mix cash with digital payments, you get DASH!
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September 28, 2015, 08:51:58 PM

Comfortable, trustless masternode budget voting - Dashwhale.org

We are very exited to announce the launch of our new voting service, allowing you to comfortably submit your DASH budget votes via the Dashwhale website. For the setup, you simply have enter your masternode privkeys on your masternode settings page. These privkeys are encrypted in your browser with a passphrase, to ensure, that even we don't have access to your privkeys. To cast you votes, simply press the "Vote YES" or "Vote NO" button on the proposal page, enter your passphrase and you are done.

Nobody likes to fiddle around with the DASH wallet on command line, to vote for the large amount of budget proposals. We hope, comfortable & safe voting via the Dashwhale website, will further improve voting activity.

https://www.dashwhale.org

Special thanks deserve UdjinM6 (raw voting and js signing) and Evan (concept of trustless voting).

Best,
Rango

P.S. Feel free to audit the javascript code and client/server communication. If somebody want's to post the screenshot on my behalf: https://www.dashwhale.org/downloads/dw_screenshot7.png I still can't post screenshots due to some kind of image post lock.

Site is down ATM. "502 Bad Gateway"

working for me.
Yep, back up!

Everyone should try trustless voting on DashWhale... this is amazing  Grin

Dash - Digital Cash | dash.org | dashfoundation.io | dashgo.io
Freckleg
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September 28, 2015, 09:18:45 PM

Comfortable, trustless masternode budget voting - Dashwhale.org

We are very exited to announce the launch of our new voting service, allowing you to comfortably submit your DASH budget votes via the Dashwhale website. For the setup, you simply have enter your masternode privkeys on your masternode settings page. These privkeys are encrypted in your browser with a passphrase, to ensure, that even we don't have access to your privkeys. To cast you votes, simply press the "Vote YES" or "Vote NO" button on the proposal page, enter your passphrase and you are done.

Nobody likes to fiddle around with the DASH wallet on command line, to vote for the large amount of budget proposals. We hope, comfortable & safe voting via the Dashwhale website, will further improve voting activity.

https://www.dashwhale.org

Special thanks deserve UdjinM6 (raw voting and js signing) and Evan (concept of trustless voting).

Best,
Rango

P.S. Feel free to audit the javascript code and client/server communication. If somebody want's to post the screenshot on my behalf: https://www.dashwhale.org/downloads/dw_screenshot7.png I still can't post screenshots due to some kind of image post lock.

Site is down ATM. "502 Bad Gateway"

working for me.
Yep, back up!

Everyone should try trustless voting on DashWhale... this is amazing  Grin

It is hightech democracy
toknormal
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September 28, 2015, 09:59:23 PM


I just tried it.

That is awesome.
flailing Junk
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September 28, 2015, 10:51:56 PM

So darksend transaction fees can be very large compared to other cryptos since it rounds up to .1 dash. Is anything going to be done about that?
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September 28, 2015, 11:05:34 PM

So darksend transaction fees can be very large compared to other cryptos since it rounds up to .1 dash. Is anything going to be done about that?
0.1 = ~20 cents. Once we are 10 times larger (i.e. $20 per DASH) we'll just introduce new denomination. Until then it doesn't make sense to mix such small amounts (0.01 is ~2 cents now) via DS.

EDIT: or we'll switch to v13 magic (whichever comes first Smiley )

DASH: XsV4GHVKGTjQFvwB7c6mYsGV3Mxf7iser6
pille
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September 28, 2015, 11:06:09 PM

So darksend transaction fees can be very large compared to other cryptos since it rounds up to .1 dash. Is anything going to be done about that?

I hope this will affect the fees in a positive way too? :

We've made some massive progress on the DS side and the next version will support network wide anonymity, that doesn't obscure UTXO like cryptonote, is instantaneous, has no bload, has blinding and other identity protection built in. We won't require a name anymore for the service, because it's not a service, Dash will just be anonymous by default.

EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
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September 28, 2015, 11:16:18 PM

....
EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
yep, all fees (except proposal preparation fee which is destroyed) go to block reward

DASH: XsV4GHVKGTjQFvwB7c6mYsGV3Mxf7iser6
stealth923
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September 29, 2015, 12:09:52 AM

That cryptsy wall is getting chewed out like its nobodies business....get in while it lasts!
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September 29, 2015, 12:10:14 AM

....
EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
yep, all fees (except proposal preparation fee which is destroyed) go to block reward

Why is the proposal preparation fee destroyed? I imagine there's a good reason for it, but couldn't it go towards the block reward too?
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September 29, 2015, 12:46:35 AM

....
EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
yep, all fees (except proposal preparation fee which is destroyed) go to block reward

Why is the proposal preparation fee destroyed? I imagine there's a good reason for it, but couldn't it go towards the block reward too?

The security model is you destroy 5 DASH via an OP_RETURN, with a hash of the proposal included in the output. This means the 5DASH is not spendable and will be excluded from the mempool afterward, also that the user can recreate the 5DASH in the proposal if it's approved. The idea really is that you should be sure enough about the proposal getting approved that you won't actually lose the 5DASH, you're just recreating it.

Dash - Digital Cash | dash.org | dashfoundation.io | dashgo.io
patrolman
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September 29, 2015, 01:02:52 AM

....
EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
yep, all fees (except proposal preparation fee which is destroyed) go to block reward

Why is the proposal preparation fee destroyed? I imagine there's a good reason for it, but couldn't it go towards the block reward too?

The security model is you destroy 5 DASH via an OP_RETURN, with a hash of the proposal included in the output. This means the 5DASH is not spendable and will be excluded from the mempool afterward, also that the user can recreate the 5DASH in the proposal if it's approved. The idea really is that you should be sure enough about the proposal getting approved that you won't actually lose the 5DASH, you're just recreating it.

Cheers  Smiley
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September 29, 2015, 01:12:27 AM

....
EDIT Btw: do I remeber this right, that alle the denomination fees go to the block rewards?
yep, all fees (except proposal preparation fee which is destroyed) go to block reward

Why is the proposal preparation fee destroyed? I imagine there's a good reason for it, but couldn't it go towards the block reward too?
Evan's response +
Another principle is that system should treat all proposal submitters equally i.e. this fee should also be equal for them. But a MN owner can see that his MN is going to be paid next ("masternode winners") so he could (potentially) try to prepare proposal (i.e. pay that fee) in the "right" block to "get a discount". Could be smth like this: block reward would be fee(5)+"normal block reward"(~6, according to http://178.254.18.153/~pub/Darkcoin/masternode_payments_stats.html ) => reward will be ~11/2=~5.5 instead of normal ~6/2=~3 i.e. MN owner would get half of his proposal fee back (or get a 50% "discount" if you like). To avoid such situations and make process of submitting proposals more fair to everyone it's better to destroy proposal fee completely.

DASH: XsV4GHVKGTjQFvwB7c6mYsGV3Mxf7iser6
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September 29, 2015, 01:15:56 AM

V0.12.0.55 Is Out!

- Huge Chinese/Japanese Update
- gettransaction now works with IX
- fix LP inter-mixing by not initiating new queues by them (Udjin)
- Support for trustless proposal voting (DashWhale)
- SK translation
- DS - try to use inputs with the same number of rounds (Udjin)
- GetRemainingPaymentCount was off by one

https://www.dashpay.io/downloads/


pump, please explain more about this "- Support for trustless proposal voting (DashWhale)"

stealth923
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September 29, 2015, 01:33:25 AM

V0.12.0.55 Is Out!

- Huge Chinese/Japanese Update
- gettransaction now works with IX
- fix LP inter-mixing by not initiating new queues by them (Udjin)
- Support for trustless proposal voting (DashWhale)
- SK translation
- DS - try to use inputs with the same number of rounds (Udjin)
- GetRemainingPaymentCount was off by one

https://www.dashpay.io/downloads/


pump, please explain more about this "- Support for trustless proposal voting (DashWhale)"

Loving the collaboration between different teams - Dash core team & Dashwhale....I hope this can continue with other partners in the future!! well done to all!
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September 29, 2015, 01:46:33 AM



Cryptsy sellwall.

i'm sooo gonna pretend i haven't read that   Roll Eyes

Don't worry about it. It's good - Duffenomics in action.

Will explain more once my f*!4* Adobe Photoshop updater unsticks itself  Wink


Ok - my updater "unstuck" itself....here it is. My interpretation of the Cryptsy wall, why price didn't go up when masternode count did, a breakdown of how Dash's economic model behaves under adverse perturbations and some other stuff I discovered on the way  Smiley


Supporting Trading Price vs Achieving Full Coin Deployment as a Monetary Objective
If you’re an investor in cryptocurrencies, it’s normal in this business to be checking “the price” umpteen times a day to see how your coin’s doing. But if your job is to build a new monetary medium (as in construct a house or a car), then maybe there are times when maximising the valuation isn’t the appropriate objective or when it conflicts with other, more immediate priorities.

If you put your architect’s hard hat on, and see this from the point of view of a construction project rather than an investment one, then what would the priority be ? Surely it would be to acheive FULL COIN DEPLOYMENT - i.e. the entire current coin supply deployed in a monetary role. As far as money goes, there are really only two roles available:

[1] - as a means of payment for goods or services

[2] - as a store of value (and if it’s a currency, that means earning interest to compensate for inflation)

That’s it !

Terminology
For handiness, we can refer to these two monetary roles as the reserve role and the currency role respectively. Correspondingly, the market for interest bearing capital then becomes the reserve market while the market which requires trading liquidity is the currency market. Finally, those markets are addressed by their respective portions of the coin supply, i.e. the reserve supply and the currency supply.

Straight away we can see problems for a brand new monetary medium. In the case of [1] (the reserve ,market) there are no cryptocurrency banks yet, ergo no interest, ergo no store of value. In the case of [2] (the currency market) the demand for payment method liquidity is not anticipated till quite some time in the future. Right now the only significant source of currency demand comes from exchanges who’s function is to provide liquidity for speculative trading.

The result of this absence of “front loading” of monetary demand is that a standard valuation profile emerges whereby a currency reaches a high speculative peak, followed by a long slow drift down - sometimes all the way to zero.



What Dash has done to address the need to ‘front load’ the monentary demand curve is to create two markets instead of one and make them compliment each other so that the entire coin supply is deployed in both the fundamental monetary roles and therefore can address both currency and reserve markets right from the start.

Recent Market Activity and Masternode Growth
This afternoon, I noticed a sudden growth of supply on exchanges (the “Cryptsy wall”). But on checking the masternode count, it was steady at around its high watermark of 3220 nodes. This is an immediate clue as to from which of Dash’s 2 monetary markets the new supply precipitated - in this case the currency market (see blue sector in the diagram below). It’s reasonable to conclude that over the last year, much of the coin supply going to masternode collateral has come from existing held funds redeployed (i.e. moving from the dark blue sector in the illustration below into the orange one without passing through markets). The growth in masternodes therefore hasn’t had much impact on price because an internal re-assignment of coin holdings has occurred initially to populate the network.

However, at some point this flow will stop. There will inevitably be some holders who have no intention of deploying masternodes for whatever reason - they want to keep their holdings available for trading, they want to play Satoshi Dice, they want to buy a case of Dry Muscat from the Misconduct Wine Company etc.

Returning now to our money architecting perspective of “full monetary deployment”, we need to add a third category for completeness. That is the balance of the coin supply which is redundant and not deployed in either of the two active roles meeting market demand (neither interest bearing reserve nor currency). If the balance is non-zero, this is the supply that finds its way to markets and is traded. (Note: not the amount sitting in order books, but the amount actually changing hands and moving the price), or put another way, the amount sitting on order books that matches the next bid price. What happens then is that the coin supply changes hands, the price moves and the redundant supply is eliminated (the light blue gap gets fully closed). When the price stabilises, then the supply is fully deployed again in a heterogeneous market.

Don’t All Cryptos Support this Model in Some Form ?
Yes - all crypto’s clearly exhibit some aspect of this monetary model but here’s the distinction.

a) in the case of non interest-bearing proof of work coins, the ENTIRE supply is in the blue zone. This clearly places too much commercial loading on an immature currency market which leads to an inevitable long term value depletion in the absence of major speculative price support. It’s a case of ‘keep pumping and hope to hell that people hodl’.

b) in the case of interest bearing proof-of-stake (POS) coins, the interest bearing feature applies across the entire coin supply with the result that heterogeneity is lost. Those two markets are not distinctly addressed which precludes them from complimenting each other in an optimal way. For example the trading sector still pays interest even though investors have a different financial priority. That then depletes the attractiveness of the high earning cold wallets. Conversely, the portion of the supply that is meeting the reserve requirement cannot be specifically targeted for rewards-based service loading as Dash’s is.



The Dash Economic Model: How are its Dual Markets Complimentary and What are the Mechanics of Stabilisation ?
Lets take each one in turn with reference to the colour-coded illustration and see how this model continuously brings the coin supply back into full deployment. (Note, the priority is full deployment, not price support. The assumption is that if full deployment is sustained in both commercial sectors, then we have the highest chance of a long term favourable revaluation).

FOR A GIVEN SIZE OF CURRENCY MARKET - DOLLAR EQUIVALENT LIQUIDITY REQUIREMENT (Blue side fixed)

[1] - if masternode count decreases (holders want to trade their masternode collateral for another coin and exit Dash)

a) - the gap will open and redundant (Sr) coin supply goes positive
b) - this will go to markets as excess supply and move the price down
c) - masternode revenue goes UP (due to fewer masternodes), masternode price goes DOWN (due to b)
d) - the effect of c is to attract demand from BOTH the currency sector of the existing investor community (the blue band) AND from markets
e) - the redundant supply gap (Sr) is closed, the masternode count stabilises and full coin deployment is restored

[2] - if masternode count increases (demand rises from the fixed income commercial market sector)

a) - the redundant coin supply term (Sr) goes negative
b) - a negative Sr term due to masternode shortfall can only be cleared by moving coins from the blue to the orange sector which can happen in two ways: an existing holder re-deploys their holdings as masternode collateral OR a new holder does by way of the coins passing through markets first and changing hands
c) - the price rises to maintain the liquidity requirement for the currency market (blue zone)
d) - the negative redundant coin supply term (Sr) is eliminated and full coin deployment is restored

FOR A GIVEN MASTERNODE COUNT (Orange side fixed)

[3] - if the size of the currency market decreases

a) - the gap will open and redundant (Sr) coin supply goes positive
b) - price will fall to close the gap
c) - the redundant supply gap (Sr) is closed, the masternode count stabilises and full coin deployment is restored

[4] - if the size of the currency market increases

a) - the redundant coin supply term (Sr) goes negative since there is a liquidity shortfall
b) - by definition, demand has exceeded supply on markets so price rises to meet the liquidity requirement for the currency market (blue zone)
d) - the negative redundant coin supply term (Sr) is eliminated and full coin deployment is restored

What are the Complimentary/Secondary Effects ?
We’ve discussed on an ongoing basis the huge technical gains to be had from a logically articulated network. (That’s to say, where the protocol for any given node can operate in either a client mode or a service mode while remaining decentralised). So in this section we’ll stick to the economics of the two distinct commercial markets that Dash serves.

To do this we just have to connect up an adverse perturbation in one of the two markets above, directly to its corresponding step in the other market. For example, to observe the primary and secondary impact of a decrease in size of the currency market, it’s knock-on impact on masternode count and subsequent tertiary effect on valuation, we can do this:

Start at [3] and note the primary effect of a market shrinkage (it’s a price decline at [3]b)
Next to go to the two sections governing masternode dynamics ([1] and [2]) and see which one contains the price decline - its [1]b
Now note the conclusion of those steps. From that we can see that the shrinkage in the currency market was balanced by an expansion in the revenue-earning investment sector (masternode count) and full monetary deployment was restored.

We can use this type of ‘jump across’ analysis to model the secondary effects for any perturbation - increase in masternode count, decrease in masternode count, shrinkage in currency market or expansion of currency market (e.g. widening retail adoption). To know the starting point, we need two data points:

 - the market movement direction (is it a price increase or a decrease)
 - the change in masternode count

So today, we had supply coming onto the market, but it doesn’t yet count as a perturbation till it moves the price (which as I write it still hasn’t). Lets say it did though and the price tanked. The masternode count remained steady, so our entry point in the model is [3]a.

Implications for Trading Technicals and Long Term Market Split
From the previous example, an interesting phenomenon occurs which theoretically has a favourable influence on trading technicals. We saw that successive shrinkages in the currency market has the effect of “pushing” coin supply from the blue sector to into the orange sector on the illustration. In trading technicals, a resistance area is often defined to exist at the end of a large selloff. However, if we look at this from the perspective of the dual market economic model that Dash now serves, it’s possible that this resistance will be substantially mitigated by reduction in coin supply in the blue zone, since much of the supply that would otherwise be sitting on the order book - underwater waiting to be rescued - has gone off to find a new home as masternode collateral (Orange zone).

So this heterogeneous market makes it much easier for Dash to recover marketcap after a selloff, whereas when you have no ‘front loading’, the market has it all to do. A mountain to climb.

Note that Evan sees the blue sector as being ultimately very small - a good deal smaller than I have drawn it. (I drew the relative split according to today's masternode count). Having thought things through for the purpose of this post, I now realise why. Lets see how the model affects relative spread between the two market sectors in the case of a liquidity decrease and increase respectively:

a) - in a decrease (price decline for fixed masternode count) as we’ve seen, we should loose some net supply from the currency sector to the masternode sector
b) - in the increase, we should not necessarily regain that full loss (in other words, some of the coin supply that moved from the blue to the orange sector in a price crash will ‘stick’ and not return to the blue sector. That then requires a price rise to a higher original value just to regain the same dollar liquidity level

Industrial Precedents for This Approach - A Case Study: Electricity Generation
The reason I’m so confident that this is not only a sound strategy for a fledgling cryptocurrency but an essential one, is that there exists an fascinatingly close parallel in heavy industry which faced almost identical growth challenges and successfully deployed a similar dual-market strategy to meet those challenges.

Iceland in the 1960’s had a population of about 200,000 people and growing. The government embarked on an ambitious long term plan to build new hydro-electric stations, the first of which would be the largest ever to date. Here’s the problem - once completed, the full generating capacity would be online decades before the demand was projected to rise enough to absorb it. The question was, what to do with the spare capacity ?



The answer they came up with was to build an aluminium smelter. Aluminium requires huge amounts of cheap electricity while at the same time provided exposure to a completely independent market from the consumer one which would take years to evolve. The same product was supplied to both markets (so the 'coin supply' is continuous), but the markets had distinct properties which complemented each other in the way Dash's do.

This gave the generating capacity a dual market with appropriately favourable dynamics, where one is capable of taking up slack in the other and supporting its growth. So in conclusion, what we saw today in the Cryptsy order book was possibly the ‘flab’ on the blue strip that was about to be absorbed by the aluminium smelter (thankfully, Dash has one now Wink )



How is Bitcoin Doing It ?
Finally, lets consider how these two distinct markets are addressed in bitcoin. As far as the currency side goes (the blue sector), there is little difference economically between any crypto because they all inherit the principle characteristics of bitcoin (POW, inflationary to some degree etc). However, it's in the auxiliary capital investment market (the orange sector) that the challenge lies - particularly now that we've seen this is key to supporting long term growth of the currency by front-loading excess supply.

Bitcoin does not support any protocol based reward for proof of network service other than mining. Full nodes, for example, are not incentivised and this has led to a steady decline in their population as SPV wallets start to dominate. We'll consider 2 significant examples of how the bitcoin economy intends to address this market:

[1] - Sidechains
[2] - ETF's

Sidechains
The idea here is to be able to introduce new protocols to the bitcoin economy without the need for hardforking the bitcoin protocol itself. So this is a potential area where ideas like incentivised nodes or proof of service could be introduced. The problem, however, is that sidechains drives a horse and coaches through bitcoin's fungibility. You have to sacrifice entire sections of the coin supply to 'morph' them into the sidechain currency. It also carries the problem of pegging the sidechain's coin value to bitcoin's (the designers actually think thats a good thing believe it or not), thereby transmitting undesired volatility from one market sector to another that would otherwise be served by distinct currencies isolated from each other with a commercial firewall.

Technically - as an API interface - this is a potentially attractive idea. Monetarily it's a non-starter according to any accepted definition of ideal monetary properties.

ETF's
The eventual emergence of a Bitcoin ETF-like product would directly address the demand for investment capital as distinct from trading liquidity. However, here the solution is also incomplete because ETFs are in principle a risk asset - not a fixed income one - and rely on the underlying commodity accruing in value to deliver a return. So we're back to square one with the blue sector accounting for the whole coin supply. We still have no 'auxiliary market' to front load our supply. [To illustrate the difference between a risk asset and a fixed income one, consider you had $1000 to invest. You can either invest it in stocks or bonds. If you invest in stocks, you may end up with less than $1000 dollars or you may end up with more. With bonds which pay a fixed interest in the same currency as the capital sum, you'll always end up with more than $1000. You may loose out in other ways (e.g. the $ may devalue against gold) but you'll at least have more dollars than you invested. This is the market that Dash's 'Orange sector' is supporting). ].

How does Dash Do It ?
How does Dash avoid the two cul-de-sacs above ? In the first case, it addresses the two monetary roles distinctly but ENHANCES fungibility instead of destroying it. It can do this because the capital and currency markets are supported without having to recast sections of the coin supply with a different identity as sidechains do.

In the second case, it supports a protocol level reward for proof of service, thereby providing a basis for fixed income investments that pay out in the SAME currency as the capital sum. (The risk-asset market is supported by default, whether your funds are serving as masternode collateral or not).

As these two examples illustrate, the problem bitcoin has is the same one that keeps recurring everywhere else - from fungibility to scaleability to governance and that is: If you want to service this 2-tier market, you need a 2-tier protocol !

Simple as that  Wink
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September 29, 2015, 02:42:01 AM

So darksend transaction fees can be very large compared to other cryptos since it rounds up to .1 dash. Is anything going to be done about that?
0.1 = ~20 cents. Once we are 10 times larger (i.e. $20 per DASH) we'll just introduce new denomination. Until then it doesn't make sense to mix such small amounts (0.01 is ~2 cents now) via DS.

EDIT: or we'll switch to v13 magic (whichever comes first Smiley )
Speaking of darksend mixing.  Try it out.  There may or may not be one or more liquidity providers online and ready for mixing.

Your voting Dash at work.

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moocowmoo
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bovine quadruped, professional loafer, dash dev


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September 29, 2015, 02:47:31 AM

V0.12.0.55 Is Out!

- Huge Chinese/Japanese Update
- gettransaction now works with IX
- fix LP inter-mixing by not initiating new queues by them (Udjin)
- Support for trustless proposal voting (DashWhale)
- SK translation
- DS - try to use inputs with the same number of rounds (Udjin)
- GetRemainingPaymentCount was off by one

https://www.dashpay.io/downloads/


pump, please explain more about this "- Support for trustless proposal voting (DashWhale)"


Dashwhale wanted a way to take signed votes from users and broadcast them.

UdjinM6 wrote a patch to dashd ( https://github.com/dashpay/dash/commit/3d91fe326cb0f2c89f152cf25c13f39697312580 ) to broadcast these previously-signed votes.

UdjinM6 then wrote some javascript ( parts of https://www.dashwhale.org/assets/js/dw.js?v=2 ) to both encrypt the keys and to do the signing of the votes in the users browser.

Put all together:

  • user inputs their masternodeprivkey(s) (not the 1000dash one, the hot-cold start/voting one) into their browser
  • user inputs a password to encrypt it
  • browser encrypts it (aes-256-cbc/pkcs7 padding), sends it to dashwhale for storage

later, when voting

  • dashwhale sends all supplied mnprivkeys (encrypted) to users browser
  • user enters password
  • password decrypts mnprivkeys
  • browser signs votes (set within UI) with mnprivkeys and forwards them to dashwhale
  • dashwhale broadcasts votes

simple and elegant.

great job everybody!


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service: https://masternode.me -- The first automated masternode service. Ugly website, stellar uptimes and hands-on support. Over 150 nodes with 300+ days uptime!
tombtc
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September 29, 2015, 04:23:12 AM

Does that mean all you need to steal someone's votes is to get his mnprivkey?
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Dash: A Digital Alternative To Cash


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September 29, 2015, 04:27:09 AM

@toknormal Brilliant as always!

https://twitter.com/taoofsatoshi/status/648715221587070976

When you mix cash with digital payments, you get DASH!
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