Re: [ANN][DASH] Dash | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX
I was told that DASH transactions were secured by the masternode network and that the miners only provide a source of entropy for the selecting of the masternodes.
It seems that Ethereum is also going in that direction. They will use PoS with a security deposit system (like the masternodes in DASH): https://www.youtube.com/watch?v=StMBdBfwn8c
(they didn't yet say where their source of entropy will come from though)
It seems that ETH thinks that having no miners at all is more secure that centralized mining like in BTC or (in the future) in DASH.
That is not correct (in regards to Dash) .
First off, I thought Eth had quit the PoS idea, but then again I'm not following that closely, but I remember something about Ethash being developed as a Dagger-Hashimoto derivate as a PoW algo to address this issue. Long time since I tried to make sense of Eth's development roadmap.
MAsternodes do not secure the transactions. Miners do that. Masternodes lock the IX transactions against double-spend, and then the miners secure it forever as good old PoW. Does does not have PoS, it has PoSe (Proof-of-Service). Also, miners absolutely do not select Masternodes at all. They operate completely independent from each other.
Unfortunately, mining right now is also already pretty centralized...
