Masternodes are the Jedi protecting The Republic (the Blockchain)

nightowl

nightowl

Member
I was at a party trying to explain to this one Star Wars crazed buddy why he should look at Dash. So I said...

Masternodes are the protectors of the blockchain. They are like the Jedi protecting The Republic. And just like Jedi's have special training, Masternodes can do all sorts of special tricks like mix coins and do instant confirmations. In networking we use layers like the TCP IP Stack, and there's no reason why Crypto Currencies shouldn't have layers too. Masternodes form a protective and computing layer around the core proof-of-work bitcoin based blockchain. Right now Bitcoin doesn't any Jedi to protect it's blockchain and it's been struck it's very first blow. It still has a long long way to go, but it took it's very first HitPoint already and they haven't quite found the stimpacks yet, even though they've been searching for almost a year.

He nodded his head, and I went on to say:

Also, pretty soon Dash's "Jedi's" will be trained to do something even more special. Just like you can trust a Jedi and respect each answer any Jedi gives, you can ask any Masternode an API question like "How much money does X have". And like a Jedi you can always trust that answer.

I'm like a 7 day old Dash Noob. Did I get it right?
 
nightowl said:
...which leads me to only one conclusion... I was probably the biggest star wars nerd in the room!
Click to expand...
Not if I was at the party you wouldn't be :)
Funny thing is, the last 2 parties I've been to, I've cornered somebody (usually an activist), and gone on about 2 tier networks, scaling problems and instantX like as if I know what I am talking about (which I don't really, but am quite good at winging it).The force was not brought into it directly but could be potentially introduced later on along the lines of quantum entangled particles at opposite sides of the universe connected together instantly through a wormhole - makes for a good conversation interlude before they get too bored and wonder off looking for another drink.
Experience suggests most of this will be forgotten by the next morning.
 
Sub-Ether said:
....and gone on about 2 tier networks, scaling problems and instantX like as if I know what I am talking about (which I don't really, but am quite good at winging it).
Experience suggests most of this will be forgotten by the next morning.
Click to expand...

Yes I'm definitely doing the winging thing too! But an important question arises from this:

Does Dash use Proof Of Work? (I think I read that somewhere). Proof of Work is pretty important to the Bitcoin Crowd. The way I have it, is if you have a coin that needs miners (like dash) the miners are doing the Proof of Work. (Or can Proof of Stake use miners too?)

The guy I spoke to is pretty scientific and technical to a point of limited OCD, he's the type that gets upset if you provide him with incorrect info.
 
nightowl said:
Does Dash use Proof Of Work? (I think I read that somewhere). Proof of Work is pretty important to the Bitcoin Crowd. The way I have it, is if you have a coin that needs miners (like dash) the miners are doing the Proof of Work. (Or can Proof of Stake use miners too?)
.
Click to expand...
Proof of work is 45% from mining using 11 chained together algorithms as a hash validation for the transactions into blocks.
The proof of stake is really a proof of service as masternode hosting and thats also at 45%.
There is another 10% maximum that can be voted by the masternodes and payed to proposals for development and marketing.

If the 10% is not voted in by the 51% of the masternodes then the extra Dash does not exist, so the 90 % becomes the 100% and acts less inflationary.

The 10% is created by separate superblocks and does not form part of the mining blocks which are currently paying out 4.1 Dash with 50/50 split at 2.08 Dash to mining and 2.08 to masternode.

http://explorer.dash.org/block/000000000011c823227e8258a4da82b9e3e5dd45b81536f42d8437137473f0a0
 
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