Dash - Private Digital Currency

Hello all, I have a sizable investment to make. What are some technical benefits Safecoin holds over DASH?

I think there will be tremendous value for anon currencies in the coming years.

What makes Safecoin so anon? - can you tumble your coins or mix them?

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There is no transaction history, and identities are anonymous.


how can a coin work with no transaction history?

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The coin is data, like any other data on the network. Both are protected by encryption and group consensus, so only the owner can change data they own, including assigning a new owner to a coin (i.e. making a payment).


Dash is an improved incarnation of bitcoin, SAFE is an improved incarnation of the digital universe… safecoin will not require wasteful mining (proof of resource instead of proof of work), so it’s instant, with no fees, handles as much vol as you can throw at it, has no blockchain bloat etc. Although safecoin is unimpressive by comparison to the rest of the network design. SAFE is much more than the coin.

Dash is proven tech though, SAFEnet and SAFEcoin are not yet a reality, so MAID is a riskier proposition with a much much bigger upside, imo ;). If it does work as described it probably won’t take long to dwarf eth, btc when it starts being used… fanboy here obvs :stuck_out_tongue_winking_eye:

Also, you should remember that when SAFEcoin launches it will be backed by the spare resources it provides. So like currency backed by gold, your coins will actually have a floor of value and people will always want bandwidth, storage, processing power etc, so long term safecoin sounds great… presuming it does all work as we think it should.


Safecoin is just one, small, use case for safenet. Admittedly, it is a damn good one, but once you have a distributed data network, stuff like Safecoin just tumble out of it naturally.

As @happybeing says, it is all just data changing owners. Why should that even have a history? Why should it be costly? Why should everyone on the network be made aware of it?

Safecoin will essentially be a true digital cash, in a way which the blockchain has struggled to do efficiently/effectively. I think a lot of people will drop their jaws when they realise this.


Do you guys see safenet and bitcoin working synergistically? or do you see BTC going away?

Also for websites like STEEM cant safenet benefit ? - for video / photo storage vs ipfs implementation?

There will be a need for ledgers, and bitcoin has proven characteristics and a foothold in terms of understanding, acceptance and adoption. On the other hand not all bitcoin’s characteristics are positive, so there is the possibility of Safecoin/SAFEnetwork displacing blockchain tech if they prove successful and have the characteristics we anticipate.


I think bitcoin will change beyond recognition and SAFE will either be really big or have failed (I don’t see much middle ground). If it does fail then some new version of something like SAFE will emerge that does work. I think we end up with what SAFE promises basically, even if they don’t deliver for whatever reason. The vision is just too clear and important.

I don’t think STEEM will last myself, but sure, there will be plenty of killer apps and social networks on SAFE - check out decorum (pdc) if you didn’t know about it. Hopefully clever ideas and innovations such as you’ll find in there will flourish on safenet.


Bitcoin is likely to stay for a while, simply because it’s the best known one, and that it’s doing what it’s doing really well.

At the same time, considering how tiny the whole digital currency universe is, there’s space for radical new technology to dwarf any previous attempts. Safecoin is real digital currency where transactions have “unlimited” bandwidth (it has no bottleneck, so it’s scalable) which puts it ahead of bitcoin, which is severely limited by block size and confirmation rate.

On the other hand, bitcoin has a ledger out of the box, which makes it perfect for other things. I can see it as a settlement system between really large entities, where even large absolute fees will be cost-effective compared to the transaction sizes (in the future, when mining will be about the fees and not the block reward.)


Dash is actually the best cryptocurrency out there by technical specs currently. It is lightyears ahead of Bitcoin, and due to the masternode network, it possesses a very stable price. In order to run a masternode you need 1000 dash to sit in an wallet. This gives a lot of stability to the price. There is really only upside baring some unforeseen tragedy. And with Dash evolution, they will be attempting to further scale and provide features that would make Bitcoin look like banks. They are going to provide storage, decentralized API calls DAPI so that you can do instant transactions without needing to have a sync’ed version of the blockchain, etc. The only thing that can stop Dash really, is Maidsafe. Evolution is coming late 2017 so that should give the Maidsafe team time to catch up and exceed them. Maidsafe has a much larger use case than Dash since its much more than a crypto, and since I anticipate a soon release Dash may be an afterthought by the time Evolution launches.


Is "evolution"a project? Can you say more about it? :smile:

Yes its a project currently in development by Duffield and whomever else is hired by the DGBB. I’m going through the white paper now, but it looks to be very interesting indeed. They have some top notch stuff in there. The easiest way to envision the Dash network is to look at it in layers Dash 1.0 as similar to Bitcoin. This is where cryptographic signing of mined blocks takes place, etc. very low level protocol. This is also where Dash and Bitcoin part ways. On top of this is layer 2 or the masternode network. This is where masternodes work together to do instantX, Coinjoin etc. They are incentivized to do this because Masternodes receive 45% of mining rewards (other 45% to miners, remaining 10% goes to the network for development, marketing, etc. and is voted upon by Masternodes).

Evolution is layer three which is built upon the masternode network. Having masternodes is actually a very useful thing because they can be used to for more than just anonymizing and mixing the transactions on the network. This is where evolution comes in, there is, according to the white paper, DAPIs, lightclients, social clients, named aliases (so ‘regular’ people don’t have to deal with unreadable addresses) planned to be built on top of the network. This allows for DAPIs to connect to the network and handle transactions ‘off chain’ so to speak. The problem with Bitcoin transactions is in order to do them you either have to: have a full blockchain at your disposal in order to ‘trust’ that the transactions are valid, OR you have to be running a light client who does that for you and trust THEM. The whole point is not trusting centralized authorities.

This is where masternodes come in. This gives you the benefits of the centralized service, without the need to have a full blockchain yourself. What will happen is that Masternode quorums will be randomly selected to verify the transaction. If all 7 (I believe) agree, then the work is verified and added to the blockchain. But since this is masternodes doing it not your client, your transaction is near instant (supposedly less than 4 sec IIRC) so you can use Dash at point-of-sale with merchants on your phone etc. Very interesting stuff. Not to mention the social wallets aspect and Dash Storage. I haven’t fully delved into this, but apparently it will do basically the same thing that maidsafe is doing, decentralized storage of files. Obviously in a different way, but that appears to be the goal. But because the Masternode network is already up and running, building all of this shouldn’t take too long theoretically.

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You think there’s a chance that if the SAFE Network becomes successfully actualized, it could displace blockchain tech? I had been wondering about this … How do you see some of the more successful “Bitcoin 2.0” cryptos like DASH or Factom handling that—if the SAFE Network does sort of take over? Would they find an incarnation within the SAFE Network, or would they be rendered obsolete like Bitcoin might become?

I heard D irvine mention BTC blockchain could merge with SAFECOIN ?

Personally, I don’t feel that DASH should be compared to Maidsafe in technicality wise. I do not really like the idea of DASH or Factom, and I feel that DASH and Maidsafe will be used by very different types of users in future. I recently decided to separate altcoins into different categories, by the type of potential users. If you really have to choose between this 2, Maidsafe will be a fairly good bet I believe.

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I think you didn’t, maybe you’re referring to Data Chains?

@dlux I haven’t kept updated with blockchain related developments since about a year so can’t comment on the relative merits of new coins.

There may be some innovations that I’m not aware of which rival SAFEnetwork in performance, scalability, or energy efficiency, but if they are based on a blockchain aren’t they held back - tied to a fundamentally flawed foundation, or at least component (ie proof of work: energy inefficient and centralising).

To overcome those limitations I think you need to get away from a blockchain and particularly proof of work, but I could be wrong here as I have not followed developments.


SAFE and blockchains are orthogonal, not opposing, technologies. Yes, they both can be used to facilitate money exchange, but not all of their use cases overlap. I believe they both will live on, probably in a symbiotic relationship, complementing each other.

For example, compared to the “copy everything” method used today, SAFE is an obviously superior storage place for the blocks of a blockchain; no need to store the whole chain on your drive anymore.

Blockchains (trees, etc) are awesome at enforcing a concept of ordinality between events, which is something a stateless network like SAFE (without the Data Chains) could not easily do (though I have an idea to introduce some network-wide state, for when it’s desirable.)


I agree, but I think distributed consensus groups are capable of doing a lot more than blockchains. The latter is simpler and it was the first to be established, but the design of safenet has far more headroom, IMO.

Architecturally, safenet is far more sophisticated. Distributed, fast, storage/retrieval of large, complex, data items just gives you many options. Far more than a relatively simple decentralized chain of transactions can provide.

Blockchain technology has broken ground and is proven in production environments, but the next generation is coming, in the shape of safenet.