Ethereum’s Fork & Bitcoin’s Block Size: Different Dramas, Same Cause | DASH: Detailed


Hello. I am Amanda B. Johnson coming to you from the cicada-filled South and you are watching DASH: Detailed. In both the Bitcoin and Ethereum networks rather large, business-critical decisions have divided the online communities pretty severely. In Bitcoin, it’s been about whether to increase the long-standing one megabyte blocksize cap whereas in Ethereum, the debate currently rages over whether to hard fork in an effort to nullify a former smart contract that went poorly for most of its participants And in both of these cases the online debates taking place in forums, reddit, Twitter even, have resulted in flame wars frequently – people accusing one another of being trolls or spammers or of spreading FUD – fear, uncertainty, and doubt. And it’s also been speculated that the uncertainty of these debates especially the longer they last has a negative effect on the prices of the coins themselves. Why is this happening? Did Satoshi not tell us in his white paper how to come to consensus? In fact it’s even called “Nakamoto Consensus.” And it is of course that those who run the blockchain – the miners – when Satoshi wrote his paper there was no difference between a miner and a node they choose the version of the software that they run and in so doing the choice of the majority is considered the main chain. However, in the nearly eight years between the time that that paper was written and now, there has been an emergence of something which Satoshi likely did not anticipate which is to say that miners are not necessarily stakeholders. Today’s mining pools, for example, often mine various coins from the same locale or even with the same hardware. Switching back-and-forth between whichever coin they think is most profitable to mine at the time. Giving them a less-than-perfect long-term view as to what is best for the health of any one network. Add to that the fact that they likely sell most, or all of the coins that they mined, at the end of the day to cover expenses, and miners may not even be stakeholders at all. But still, given the benefit of the doubt, let us assume that all miners were major stakeholders, still, how can they know what a majority of coin-holding users thinks is best? In the Dash network cryptography has been used to solve this problem in a way that was just implemented last year with a feature that developer Evan Duffield has called the “Decision-Making Engine.” The way it works is that anyone can submit a “Yes” or “No” question to the Dash network for a fee of five Dash. And then anyone on the network who has cryptographically proven that they own 1,000 Dash – aka the masternodes – gets to cast a vote of “Yes” or “No” from within their wallet. This Decision-Making Engine was first notably used when Duffield asked the network stakeholders: “Yes” or “No”, would you like to increase the Dash blocksize from one megabyte to two should it become necessary? And within 24 hours a majority of voters said “Yes” and so Duffield knew what the network wanted and hence, how to proceed with development. And outside of development alone, I myself had an encounter, an experience with the Decision-Making Engine when I was hired on to do this show – DASH: Detailed. And I thought that the Dash mirror – the YouTube mirror which is another channel with a copy of all of this channels videos – I thought it should be deleted. And I felt pretty strongly about this. And I thought that anyone who didn’t see things my way was a just big dummy. And a sort of argument cropped up in online forums and it was beginning to become a distraction really and an argument, like a debate. Like almost a flame war. And I was thinking, ‘My goodness, what have I gotten myself into here?’ ‘Surely there must be a way.’ And then of course, someone smarter than I said, “Hey Amanda, why don’t you shut your big trap and put this question forth to the network? To the stakeholders?” Which I did. ‘”Yes” or “No” should Dash’s YouTube mirror be deleted?’ And within 48 hours a majority of the stakeholders decided – they said “No” and so the debate stopped. The decision was made. The distraction and the arguments just stopped. And everyone moved forward. And when you think about it, this isn’t even a novel process. Think about how a centralized company could work. They know who their stakeholders are. They probably know how to email them or call them. And so, it’s not at all novel to get a poll of what an organization wants. It’s just that in a decentralized blockchain-based network, a new way has to be invented of doing it. So for this reason – the Decision-Making Engine – Dash will likely not encounter the same kinds of halting, price-disturbing arguments that Bitcoin and Ethereum have suffered through and are still suffering through. And I invite you to join us on any of our social channels to talk about this or any questions you may have or just to hang out and be social. Which is to say, our Slack channel which is Dash underscore chat. There’s an invitation link for you in the description. There’s the subreddit – r/DashPay. And there is the forum at Dash.org/Forum I invite you to join us at any of them. And as a final announcement: there are four businesses added to the roster of Dash-accepting vendors. Firstly we have Escuela de Regularizacion ABC, which is an English school in Veracruz, Mexico. Next there’s BolehVPN, which is a globally-available virtual private network. Next there is Campbell’s Asphalt Sealing in Lebanon, Virginia. And finally there is SuperHeroPrinting, based in Arizona who makes custom t-shirts and sort of business cards and paraphernalia with also global shipping. So hearty congrats to you all. And if your business accepts Dash and you’d like a free shout-out on this show shoot me an email at “[email protected]” And also, if you would just like to subscribe to DASH: Detailed, meaning if you would just like me to send you an email each Wednesday with the video again, just email “[email protected]” with the word “subscribe” in the subject line. And have yourself a wonderful day and see you next Wednesday. What would your mother be willing and able to do to earn interest on her Dash holdings? Well, that is where a forthcoming offering from the Dash network entitled “Decentralized Masternode Shares” will come to play. In layperson’s terms this could be translated to the rough equivalent of the first and only “interest-bearing accounts in cryptocurrency!”

2 thoughts on “Ethereum’s Fork & Bitcoin’s Block Size: Different Dramas, Same Cause | DASH: Detailed”

  1. Is there anythign in the Dash protocol that would prevent a bad actor from just spinning up large numbers of master nodes, and therefore having an unfair influence on voting? (i.e., to mitigate centralization risk)

  2. To all the rich greedy bitcoin manipulators. Please, STOP manipulating the BITCOiN price, allow it to grow in value for the sake of the average investor.

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