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CrowdNode, the popular Dash Masternode pooling service offering fractional masternode ownership to users with 1 Dash minimum requirement to join has now enabled its participants to proportionately vote on the Dash Investment Foundation Supervisors’ election based on the amount of Dash that they hold on the platform.
The DIF Supervisors will be responsible for ensuring that the Dash Investment Foundation is making wise investments to benefit and advance the goals of the Dash network. This makes the wider participation from all CrowdNode participants that have 1 Dash or more important since they can have a say in electing individuals that will influence the future of the network. The latest transparency report released by CorwdNode showed that the platform has over 500 members and 21 Dash Masternodes.
This adds to Crowdnode’s previous voting integration that enabled investors to vote on treasury proposals, which had only previously been available to Dash masternodes that had 1,000 Dash staked as collateral.
Dash Investment Foundation and Crowdnode advancing network decentralization
One of the main goals of cryptocurrency is to be decentralized money and many criticize Dash for not being decentralized enough by having network decisions voted on by masternodes that must have 1,000 Dash staked. However, shared/pooled masternode platforms change this by enabling anyone that has some Dash to be able to pool together their Dash to create a collective masternode and get a proportional reward base on the amount that they contributed to create the pooled masternode. The one remaining barrier was that pooling votes across pooled masternode user participants was difficult, but CrowdNode implemented a solution that made it possible and now CrowdNode investors can influence the network’s decisions without having to overcome the 1,000 Dash financial barrier.
The Dash Investment Foundation will enable the Dash network take equity in exchange for investments, rather than only grants as with the DAO Treasury. Now, the Supervisors, elected by the network, will have a good amount of influence on investments made on behalf of the network. Thus, the timing of allowing more voters and users to influence the DIF Supervisors election shows the power of Dash’s decentralization. Ryan Taylor, CEO of Dash Core Group spoke to the influence that the supervisors will have.
“Dash Investment Foundation can really invest in anything that is legal as an investment product. So that can mean equity, debt, or commodities like cryptocurrencies. Really anything is open. It’s up to the guidance of the supervisors to really set the direction of Dash Investment Foundation.”
The Dash Investment Foundation helps maintain the decentralization of Dash, while it also “makes our entire proposal system more efficient”, Ryan also highlighted.
Dash decentralized from the ground up
Compared to some other coins, Dash has a very decentralized DAO from the start by automating many processes such as the distribution of treasury funds each month based on voting totals for each proposal. This prevents the need of having to require a centralized group that has the power to question the network’s decisions and potentially withhold funds. While the Dash Investment Foundation does have these Supervisors shaping the investments made, the network has the ability to remove them and reelect them each year like the Dash Trust protectors since they are a DAO funded organization. Thus, their is an incentive model for DIF Supervisors and Trust Protectors to act in the best interest of the network, while still harnessing the advantages of a small group of investment specialists to optimize network investments.