Topic: IOHK's Report on the Dash Treasury Model (Read 681 times)

Dash Governance System – Dash Core Team Response
by Fernando Gutierrez | Dec 21, 2016 | General |
Note: the purpose to this article is to provide an official response and clarification to the report “Dash Governance System: Analysis and Suggestions for Improvement” published by “The Veritas Team” – Dmytro Kaidalov, Andrii Nastenko, Oleksiy Shevtsov, Mariia Rodinko, Lyudmila Kovalchuk, and Roman Oliynykov on https://iohk.io/research/library/#NSJ554WR

https://www.dash.org/news/dash-governance-system-dash-core-team-response/

Thank you for the reply and clarification.

Personally I hope to be able to afford to contract or collaborate with IOHK in the future. That doesn't mean I am implying any reciprocal endorsement from you, just saying. I presume serious and smart development teams would see the value in the quality of your peer review, research, development and managerial resources that can be applied to an ecosystem.

I admire the academic quality of the research you are doing and researchers you have on board the team. I believe you are providing a very valuable service to the ecosystem.

Personally I don't have the spare bandwidth at the moment to fully absorb the detailed mathematical exposition.

Feedback is... I hope you can preface your research papers with a more tl;dr summary so those of us in a rush and needing to skim can get the gist of the major technical insights without needing to dig into all the theorems and math details whilst it isn't a priority for us to do so. I think this research paper had some summary, but maybe it was a bit too high level and I would have preferred some highlights of the actual algorithmic/technical details (without going off into the math proofs, etc). Something in between comprehending totally every minute detail and only broad summary without any insight into actual flaws found.

Charles I am sure you know that most readers here are unable or unwilling to absorb research papers. So I wouldn't expect a rousing appreciation here. The main appreciation I would think will be coming from those developers who can appreciate the importance of such research. And investors who respect those developers' appraisals. For example, I suspect if Vitalik stated that IOHK is the greatest thing since sliced bread, then there might be significant speculation on IOHK's involvement with an ecosystem being very valuable. One of my perspectives on what you did in the past was partner with two guys who had a magical connection with the speculators, with Vitalik being more magical than Dan.

No offence to the OP since I know he is not endorsing dash only providing some technical analysis ...but here are some other reports on dash that the average person should read first..




Here let me try again. Read it. You are saying simply because you have no 100% specific numbers it can't have happened Smiley okay

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalksearch.org/topic/m.4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalksearch.org/topic/m.4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalksearch.org/topic/m.4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalksearch.org/topic/m.4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalksearch.org/topic/m.4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalksearch.org/topic/m.4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalksearch.org/topic/m.4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.


SCAM = unfair and dishonest scheme = dash


This latest defence is so strange. Where are the victims ? what are you talking about it is there in black and white.

1. everyone who was told it was a fair launch LIKE ALL THE OTHER LAUNCHES AT THE TIME. - then prevented from mining fairly = scammed
2. everyone who was told there would be much more opportunity to mine ( then that got slashed by 75%) - prevented from mining the coins that were then taken away = scammed.

here are your victims.

3. everyone buying now thinking dash can go somewhere not knowing the scam it is will forever hold it back = being scammed.


Every dasher on here trying to scam others into supporting your scam = scammers.

I will be updating my scammers thread to add all of your names to it.

Denying a scam after it is proven time and time again to you in black and white = scam enabler and defender = scammer.


Threads examining the evidence of the captive instamine and reduction of the minting to magnify such instamining ...PROOF OF SCAM

https://bitcointalksearch.org/topic/why-the-darkcoindashdashpay-instamine-matters-999886

https://bitcointalksearch.org/topic/scam-darkcoin-instamine-2-millions-drks-50-of-darkcoin-in-circulation-560138

https://bitcointalksearch.org/topic/darkcoin-now-known-as-dash-big-scam-lets-take-a-closer-look-559028

https://bitcointalksearch.org/topic/darkcoin-aka-dash-the-biggest-ongoing-scam-in-crypto-995710

https://bitcointalksearch.org/topic/dash-aka-darkcoin-victim-resources-999084


Best way to improve upon dash is delete it and start again without having the largest scam start of any crypto thus far.

There are many clones of this project that you can get in on fairly and at the ground level.

I would take a look at DNET and others. There are many masternode variants out there now and many are not pariah projects as dash is.

Dash didn't pay us for the report and I have no investors. We are a revenue driven company and one of the very few profitable companies in the space.


If we build a cryptocurrency, then we will always make sure to take a stake in it. It makes sense for everyone involved. Otherwise we accept fiat and bitcoin for services.

Did Dash pay for this work or do your investors find value produces research to build the stature of IOHK as a research & development consulting company?

Is IOHK's business model to earn revenue exclusively from contracting its services/expertise and/or does IOHK also potentially want to take equity positions in systems they involve with?

https://iohk.io/research/library/#NSJ554WR enjoy all