Dash Implements Block Reward Reallocation, Releases Decentralized Identity Specifications

Dash Implements Block Reward Reallocation, Releases Decentralized Identity Specifications


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Dash has released version 0.16 on to mainnet, which includes a block reward reallocation adjusting the ratio of miner vs. masternode rewards. Additionally, two additional improvement proposals have been released outlining the specifications for usernames and identity registration.

In an announcement this week, Dash Core Group released version 0.16 on to mainnet, a new version including performance and UX improvements, as well as optimizations to PrivateSend, Dash's mixing-based privacy-enhancing solution. Notably, this includes a block reward reallocation:

"The allocation of block rewards — excluding proposal funding — between masternodes and miners is changing from a 50–50 split to a 60–40 split over a multi-year transition period. This change was proposed and approved by the network during the July voting cycle with the primary objective to better stabilize Dash’s store of value properties. The reallocation of rewards will incentivize the formation and retention of masternodes on the Dash network which will in turn slow the growth rate of Dash’s circulating supply.

The reallocation will take place gradually over 4½ years with incremental adjustments to the split of non-treasury funds. The proposed changes will occur every three superblock cycles, approximately once per quarter. After the BIP-9 activation for v0.16, the initial change to the reallocation will occur at the next superblock."

This reallocation was the result of Dash Core Group's CEO Ryan Taylor formulating a proposal beginning at the end of 2019 to address Dash's lagging market performance, which resulted in a network-wide governance vote in early July of this year.

New specifications for Dash Platform identity and name registration

 
Additionally, two new Dash Improvement Proposals, or DIPs, were released relating to identities, an integral part of Dash Platform, the ambitious decentralized application (DApp) platform estimated for testnet release this quarter. The first, DIP11, outlines the specifications for decentralized identities built on Dash, including attaching primary and secondary names to an identity as well as offering DNS resolution. The second, DIP12, gives specifications for the DPNS, or Dash Platform Name Service, including the internal process for registering identities on the network, as well as preventing issues such as man-in-the-middle attacks during registration and cybersquatting on popular usernames.

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TheDesertLynx
TheDesertLynx

Crypto and liberty lover. Journalist. Living unbanked off of crypto since 2016. Free State Project mover. Opinions are my own.


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