Tao sits down with Roger Ver to discuss Bitcoin’s current issues, and what Dash has done to eliminate these problems. While they support different camps at the moment, they agree on philosophy and the fact that network effect can be overcome if the right cryptocurrency comes along.
Dash is a privacy-centric cryptocurrrency with close to instant transactions. It is based on the open source Bitcoin code, but it has a two tier network that improves upon it. Dash allows you to remain anonymous while you make transactions online, similar to cash offline. Bitcoin transactions are published publicly on the blockchain and it’s possible to find the identity of the recipient or sender. With Dash the anonymization technology makes it impossible to trace the user. The Dash project clearly outlines the importance of a anonymous blockchain transactions. It achieves this through a mixing protocol utilizing an innovative decentralized network of servers called Masternodes, avoiding the need for a trusted third party that could compromise the integrity of the system.
Bitcoin is a Cryptocurrency that was released back in 2009 by pseudonymous developer Satoshi Nakamoto. Bitcoin uses peer-to-peer technology to operate with no central authority or banks, managing transactions and the issuing of bitcoins is carried out collectively by the network. The network is maintained by the miners that in return get rewarded with the currency. Bitcoin is open-source and its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any of the older previous payment system like cash, cheque or credit cards.