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Dash development update: developers introduce ‘Long Living Masternode Quorums’

Anvita M V

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Dash development update: developers introduce 'Long Living Masternode Quorums'
Source: Unsplash

In a recent tweet, Dash announced another development update that the team has been working on.

The announcement read:

“Introducing Long Living Masternode Quorums! Just another step in the $Dash Evolution Revolution!”

The Alexander Block, Core Developer at Dash elaborated in detail about ‘Long Living Masternode Quorums’ or LLMQs on Dash’s official blog.

The developer stated that the project is currently under development. The community will see some impacts in the future on some Evolution and non-Evolution topics and features.

Alexander said, the current Quorum [collection of entities that are able to vote on something] system utilized by the team poses difficulties and limitations and cannot be used in particular use cases. In order to eliminate the drawback of the present system, the team devised LLMQs as a solution. The LLMQs are long living and it increases the use of only certain required resources like CPU, RAM, network on its members and avoids increasing the load on the entire network.

Furthermore, he said that the Quorum is built beforehand and reused for a certain period of time instead of selecting a new Quorum when the demand arrives. He stated:



 “The reason for this is that an LLMQ performs M-of-N threshold signing sessions to gain majority consensus when decisions need to be made. The new M-of-N scheme requires executing a trustless and distributed key generation (DKG) protocol before actual signing/voting can happen. Since this DKG protocol is quite resource-intensive, we do it in advance and then reuse the keys for multiple signing sessions.”

In contrast to the existing system, the LLMQs only require the members of Quorums to perform propagations and validation of votes and the final result is propagated to the remaining portions of the network only after a certain amount of votes are collected. He added:

“Since the final result is the outcome of a BLS based M-of-N threshold signing session, it’s just a single BLS signature. Propagating only this single signature in the network requires a lot less CPU, RAM, and network bandwidth resources.”

The LLMQs will occur in different sizes and longevity which will be supported fully, he explained. The type will be selected depending on the use case. The best example of the use case of LLMQs is Dash’s InstaSend.





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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.

Altcoins

Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern

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Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out out of 'saucer bottom' pattern
Source: Unsplash

Binance Coin [BNB] is nothing short of becoming the best performing crypto asset of 2019, as it creates higher highs every day. In a recent surge, BNB went up by approximately 12% in 24-hours breaking out of the ‘saucer bottom’ pattern.

BNB has been on a bull run since December 2018, it has surged by approximately 470% since that point. In the last 24-hours, the price was up by approximately 12% from wick-to-wick.

Source: TradingView

Moreover, the rise in the price over the day can be attributed to the announcement by Binance DEX, that was launched recently. The tweet read:

The new update will convert the BNB, which is an ERC20token, into BEP2, it will be called the “mainnet swap”. Furthermore, users have to convert their ERC20 tokens on Binance, the details of which will be released in the near future.

In addition, Mithril, a cryptocurrency project has announced that it will be the first project to migrate to the Binance Chain. It tweeted:



“$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.”

A Twitter user, @carlitosblvd123, commented:

“So , all BNB we have now like erc20 in binance exchange and on trust wallet will be converted to bep2 automatically or we have to do anything to happen?”

@jigneshon, another Twitter user commented:

“Crypto Revolution will happen on 23rd April when Binance Chain Genesis block will be created. 🔥”





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