Blockchain and Digital Currency News

Dash’s Original DAO Continues To Progress As Designed With 12.1 Release

While almost all of the discussion regarding DAO’s (Distributed Autonomous Organizations) has been surrounding The DAO, built on Ethereum’s world computer, Dash, another blockchain based cryptocurrency and payment system has shown relative stability and progress with a DAO of their own.

Dash, a peer-to-peer payment system, formerly known by the names of Darkcoin and Xcoin, is the 7th most popular cryptocurrency among CoinCap’s current market capitalization reporting. In a recent forum post, Dash core developer Evan Duffield reported to the community that among a variety of improvements being brought to Dash in coming months, a “governance” system would be the first feature unveiled in 12.1.

Duffield said in his post:

“The most significant change included is a completely different underlying engine, which can be used to build various pieces of software. This new system will be known as the governance system. The first usage of this governance system is to clone the existing functionality from 12.0, from the basic budget system, except written purely using the governance system. So while you may not notice any immediate changes to the core functionality and capabilities, the important distinction is the way that functionality is implemented.”

As explained in the forum post, 12.1, which will be unveiled for testing in late July at the d10e conference in California, won’t necessarily be something users or developers of Dash will notice immediately as it’s part of a larger ecosystem rollout for the technology as a whole. As of now, Dash’s entire development, operational marketing system is currently supported more or less through a DAO and it seems to be working quite well thus far. By reserving 10% of the block reward created through mining, Dash has been able to fund itself in a closed loop system.

In what has been kept under wraps up until recently, the news about Dash’s upcoming releases appear to be bent towards more complex and robust governance capabilities with their DAO features. Showing potential for real applied uses of a Dash DAO within the ecosystem that produces and keeps Dash going is probably enough to get developers excited to start playing with the new features after they’ve been released to the public.

Since the high-profile failure and theft of the Ethereum based DAO, other platforms such as Lisk, Rootstock and NXT are quickly stepping up to offer alternatives to Ethereum’s Solidity based smart-contract structure for safer development. Could Dash be throwing their hat more into this arena more officially in the near future?

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