Friday, May 14, 2021

Dash becoming a decentralized cloud cryptocurrency

Payments-focused cryptocurrency Dash is starting to release insights into its new platform. The new platform will enable data to be stored within the network in the form of decentralized cloud service.

Dash cryptocurrency, like Bitcoin, is a digital currency that can be used to send or receive payments. The cryptocurrency was built on top of the blockchain technology that Bitcoin uses, however, significant improvements were made to it.

The forthcoming platform has been developed from longstanding ideas to evolve the cryptocurrency’s functionalities. Some of these functionalities dates back to the announcement of the “Dash Evolution” back in 2015.

The all new platform will incorporate four features. These features are a Dash Drive, a decentralized API (DAPI), a username layer (DPNS), and the Dash platform protocol (DPP).

Mark Mason the PR Manager at Dash outlined what exactly the company means by “turning the platform into a decentralized cloud.”

He said the platform is an application development platform that leverages the Dash masternode network and blockchain. It does this by transforming the p2p network into a decentralized cloud.

Clients will also be able to integrate their applications to the platform by using the distributed, decentralized application programming interface (DAPI). Meanwhile, the Dash Drive provides support by enabling clients to send, store and retrieve application data. Also, they would be able to query the blockchain through a simplified interface.

Related: Tether: The New Cryptocurrency Rave

An important advantage of DAPI is that it provides developers with the same access and security of a full node. All this will happen without the cost and maintenance overhead.

How Dash cloud cryptocurrency will work ?

For its initial MVP release, the Platform will work as a Database as a Service, or DBaaS. This means it will use data contracts with custom data structures defined for the applications that store their data on the masternode network. This data will also in turn, be notarized via Dash’s blockchain.

The CEO of Dash Core Group, Ryan Taylor also summarized the driving idea behind the platform. He said the idea is to combine “user experience of a centralized solution with the decentralized benefits of a permissionless network.”

The platform’s cloud functionalities means that all data on the network will sync across user devices (tablets, desktop and smartphones).

Furthermore, new human-readable usernames, rather than alphanumeric cryptographic addresses, will be supported via the Platform Name Service (DPNS) layer. Platform users will be able to create usernames on the layer, “friend” other platform users and accept friend requests. They will also be able to transact DASH using these usernames.

Dash believes that moving away from complex cryptographic identifiers will spur more people to adopt cryptocurrency by incorporating familiar interfaces and processes into its decentralized system.

As previously reported, crypto currency can already be transacted with usernames within a number of existing closed wallet ecosystems. Although Dash cloud cryptocurrency claims that its service is distinct as the username layer operates natively to the blockchain.

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