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dash-website/_i18n/en/_posts/2016-06-02-dash-the-original-dao.html
Perry Woodin ad056aa1cb Fix/html (#13) 
* Remove style-guide from i18n builds

* Remove uncategorized from CN blog posts.

* Team images and alt attributes.

* Fixing language linkage

* Ignore missing or empty alt tags

* ignore sass-cache

* fix gitignore for sass-cache

* fix gitignore for sass-cache

* Only show language dropdown if the page is not a post (blog)

* New url with site.lang included.

* Removed the site.baseurl var from the posts.
2016-09-12 15:25:54 -04:00

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---
layout: post
title: 'Dash: The Original DAO'
date: 2016-06-02 03:22:31.000000000 -04:00
type: post
published: true
status: publish
categories:
- General
tags:
- algorithm
- altcoin
- anarcho
- anonymity
- api
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- bitcoin
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- Blockchain
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- Cryptocurrency
- DAO
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- darksend
- Dash
- decentralised
- DigitalCash
- encryption
- Ethereum
- EvanDuffield
- finances
- FinTech
- freedom
- independantbanking
- instanttransactions
- libertarian
- masternode
- mining
- mobile
- network
- payment
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- privacy
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- tutorial
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- whatisdash
- x11
- zeroconfirmations
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author:
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first_name: Philipp
last_name: Engelhorn
---
<p><a href="https://www.dash.org/wp-content/uploads/2016/06/ph0p3ia.jpg"><img class="alignnone size-full wp-image-5124" src="/assets/ph0p3ia.jpg" alt="ph0p3ia" width="600" height="450" /></a></p>
<p><b>The rise of Ethereum’s The DAO is certainly cause for excitement. However, for <a class="internalLink" href="https://www.dash.org/">Dash</a>, the prospect of successfully operating a decentralized autonomous organization is already old news.</b></p>
<p>Created in 2014 by Evan Duffield as “Darkcoin,” Dash quickly grew from a platform for highly-anonymized transactions to a full service network for payments, project funding and decentralized governance by protocol.</p>
<p><b>Dash: Two Years Ahead</b></p>
<p>With all the talk about The DAO, people seem to have forgotten — or simply don’t know — Dash has been providing DAO-like services for a couple of years.</p>
<p>With its Decentralized Governance by Blockchain (DGB) functionality, anyone can propose changes to Dash. Masternode owners host monthly votes on these proposals, which range from marketing and community-based decisions to direct modifications to Dash protocol.</p>
<p>Dash’s project budget is funded by 10 percent of the block reward, which is entered into a fund that can be used to finance Masternode-approved projects.</p>
<p>Unlike The DAO, Dash funds its projects with money internal to the network, produced by miners, and controlled at the protocol level by Masternodes.</p>
<p>This method of funding promotes network strength, creating a positive feedback loop of internal capitalization that gets injected right back into the system for projects to improve the protocol.</p>
<p>The DAO, on the other hand, operates on a system of conflicting incentives, which could set the organization up for bouts of massive devaluation and ether dumping.</p>
<p>By requiring people to purchase DAO tokens with ether, the organization has also set up a system that turn DAO voting rights into a tradeable commodity, opening the door to crypto-token trading and other similar perils, vulnerabilities like pump and dump schemes, fraud and theft.</p>
<p>DAO tokens could even become more of a target for speculative day traders than those with genuine interest in voting and developing new projects.</p>
<p>Meanwhile, Dash, with its “internalized” system facilitating voting across Masternode owners, pushes forward project funding decisions to protocol questions without disruption.</p>
<p><strong>Read Full Story at :</strong></p>
<p><a href="http://bitcoinist.net/dash-original-dao/">http://bitcoinist.net/dash-original-dao/</a></p>
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