Monero and ZCash competitor Dash will introduce Sidechains

  • The cryptocurrency Dash will introduce sidechains for distributed applications on the Dash platform.
  • The aim is to increase the performance and scalability of the Dash ecosystem.

Bitcoin, Monero, Dash, Zcash and other cryptocurrencies will serve as the means of payment of the future. With increasing use and adaptation, however, the resources of the networks reach their limits at times. However, to ensure that all transactions can be carried out without any problems, there are various scaling solutions.

Dash will integrate sidechains on platform

Dash has announced the availability of sidechains for distributed applications (dApps) on the Dash platform. This should increase the security of the network and improve the performance of the dash blockchain. Ivan Shumkov, lead developer of the Dash Platrom, describes that the development team decided to use sidechains:

In order to host and operate these services, Dash Platform will run exclusively on the masternode network. Compared to using the entire Dash network, this is a much more scalable solution because masternodes will be economically incentivized to provide high-quality service. For processing and storing the Platform State (the global platform dataset), the platform needs a byzantine fault-tolerant consensus protocol. This consensus protocol ensures that a quorum (i.e. subset) of masternodes validates and processes the data in a trustless manner.

The problem of how to best record and finalize state transitions presents us with two potential solutions: use the existing blockchain or introduce a new blockchain solely for the platform.

The development team has decided to integrate a separate blockchain, also known as a sidechain or platform chain. This will be used to execute and store application-specific elements. There are 4 main reasons for this decision:

  1. Efficient use of resources: The Platform Chain Sidechain is used exclusively in the Masternode network and reduces the total network load and the size of the existing blockchain.
  2. Simple data verification for light clients: To make data verifiable for light clients, the existing data is prepared by using “merkle root” and can thus be processed faster.
  3. Faster transaction processing for a better user experience: Instead of the old proof-of-work consensus protocol, a proof-of-service consensus is to be introduced.
  4. Increased security: The blockchain can work independently of each other due to the structure of a “second layer”. If problems occur on a blockchain, the payment functionality is not affected.

Dash Adaption continues to progress

Sidechains will help Dash to further increase the functionality and speed of the network. Dash CEO Ryan Taylor has announced the current growth figures for the Dash network. According to the figures, there has been a significant increase in daily transactions in the Dash Network. In the third quarter of 2018, 5,559 transactions were executed in the Dash Network. In the third quarter of 2019, the number rose to 11,133.

Dash was also able to establish further partnerships:

  • The British IT shop Morefrom integrates Dash as a means of payment.
  • NiceHash, a platform for renting mining services, adds Dash as a means of payment.
  • The Destinia travel booking service now offers Dash as a means of payment.
  • The cryptocurrency exchange Binance.us has also included Dash in its portfolio.

About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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