On June 30, 2018, the official announcement came from Dash that Dash v12.3 is complete, tested, and ready for release. Earlier in the month, Dash had released the code for the upgrade on github for testing by the Dash community. This upgrade improves the InstantSend function, and sets the course for Dash Evolution. The upgrade was released for everyone on the network on July 3 around 13:00 UTC.
Dash (which means Digital Cash) is renowned in the cryptocurrency world for its DAO. It is known as an open-source peer-to-peer cryptocurrency that offers instant transactions (known as InstantSend, whereby transactions can be processed in less than a second), private transactions, and a secure network with a Proof-of-Work consensus.
More background information to note about the Dash platform is that it is the first self-funding and self-governing protocol, which makes its DAO stand out. Anyone in the Dash community can submit to the network a proposal on how to improve the platform, and then the proposal will be voted on by masternode operators. The Dash network boasts 4,100 masternodes since its launch in 2014.
The growth in the number of masternodes with time can be seen in the chart below:
The New Upgrade
Dash v12.3 is an improvement on Dash v12.23. The upgrade improves InstantSend and puts additional framework in place for Dash Evolution. The upgrade also includes new devnet features to enable the creation of multiple independent devnets. A devnet is a multiple testnet used for testing software before it goes public on the livenet. Devnet enables developers to test different changes to the program before it goes live.
The Dash upgrade was released around 13:00 UTC (15:00 CAT) on July 3 after the superblock. The release was originally scheduled for June 30, but due to Dash’s experience with upgrades, it was bumped up to after the next superblock was mined.
In this upgrade, there are no procedural changes to setting up a masternode. The procedure remains the same from version 12.23. However, the upgrade will require a restart for masternode operators. The upgrade will be required in order to continue receiving rewards from the Dash ecosystem.
This new upgrade of Dash lays additional foundation for Dash Evolution. The mission of Dash Evolution is to make Dash simple and easy to use for those who are not tech savvy. The aim is for Dash to be accessible from any account and able to transact as easily as PayPal.
The Dash Evolution project includes the ability to set up an account on the blockchain, add contacts, and send money to contacts through their names rather than typing in their wallet address. Also, purchases from websites and mobile apps will require just one click. The Dash Evolution project also looks into the creation of a light wallet with SPV security and browser compatibility.
Dash is currently the 14th-largest cryptocurrency by market capitalization. With just over 8 million Dash in circulation, the market cap is over $1 billion. While Dash has the smallest circulating supply of coins among the top 20 cryptocurrencies, there are 10 million Dash yet to be mined.
The Dash team is making strides with regards to the release of Dash Evolution, and they hope to have a devnet platform ready for testing before the end of this year. This v12.3 upgrade is a significant milestone towards the reality of Evolution.
Dash shows a lot of promise for the future, as they remain committed to making cryptocurrencies easier to use and better than the traditional system. Connect with Dash on Discord, Twitter, and Reddit.