Dash Introduces Three Improvement Proposals Ahead of Masternode Lists

Dash Introduces Three Improvement Proposals Ahead of Masternode Lists 13

The peer-to-peer cryptocurrency that focuses on the payments industry tagged “Digital Cash You Can Spend Anywhere” is taking lead with the introduction of three main improvements while it is yet to release the Deterministic Masternode Lists.

The three proposed improvements according to a post it released on its medium page includes;

DIP2 — Special Transactions

DIP3 — Deterministic Masternode Lists

DIP4 — Simplified Verification of Deterministic Masternode Lists

The release stated that DIP2, DIP3, DIP4, which are major instalments would be implemented and deployed following the release of the 12.3: Deterministic Masternode Lists.

While DIP2 & DIP3 will be used to “introduce new transaction structures” and other types which grant network the ability “to register and update masternodes on-chain,” DIP4 introduces a technique for “SPV clients to retrieve and verify the full masternode list”.

Deterministic Masternode Lists

The Deterministic masternode lists is a new system proposed by DASH development team to enhance operations. They are masternode lists that are derived completely from on-chain data.

The masternode lists is designed in such a way that if implemented, it will surely have effects on masternode owners and operators.

Benefit Of The Deterministic Masternodes System

While the previous technique known as MNO limits owners and operators from getting masternode rewards, and the problem of updating masternode, in the new system, masternode creation is done “by sending a special transaction (ProRegTx) to the network”. This makes the mining of transactions easy, and masternode will be added to the masternode list. Therefore, transactions (ProUpRegTx, ProUpServTx) can be used to update the metadata of the masternode.

Implementation And Deployment Of The Deterministic Masternodes System.

The Core developers at DASH Foundation are working really hard to make sure the implementation of the new system will be timely initiated as it is already underway. The developers, according to the release, have tested and implemented DIP2, DIP3 and DIP4 for operation and the functionality seems to be “running in a stable state in one of our devnets”.

While the introduction of the new system into Dash ecosystem requires the restructuring of many things and multi-stage deployment, the developers aired that the deployment details will be disclosed in a subsequent blog post.

For now, DASH may not be a household name in the Cryptocurrency world, but the altcoin is aiming to be more formidable than expected in the industry with sundry of developments.