Transparency is an important aspect in the DasCoin ideology. And the next stage in being open about how the ecosystem functions will come when the codebase – the source code of the blockchain – reaches GitHub. DasCoin CEO Michael Mathias has revealed that this will take place at the end of March.
GitHub is a platform that hosts open source code and is popular with a number of leading cryptocurrencies. Many prospective buyers of new coins will inspect the code on GitHub to help them decide whether or not to buy in.
DasCoin’s codebase is built on the BitShares technology, Graphene. Michael Mathias says: “We’re really pleased we chose that technology to build on. It’s the longest ledger in existence and I think it’s one of the highest performing ledgers. It allows us to incorporate emerging technology and its efficiency helps us deliver incredibly fast performance because of how it’s designed.
“I am investigating a new ledger technology that we could incorporate into our ecosystem. Think of it as the best technology solutions in one ecosystem. Our store of value unit, DasCoin, will always be built on the Graphene codebase, but many other solutions will be built on top of Graphene.
Private elements safeguard security
“At the end of this month we will be releasing our codebase onto Github. If you go onto the DasCoin explorer, every bit of information that is on our blockchain can be shared or queried so we are very transparent in that sense. We are The Currency of Trust and we should be fully transparent on everything.
“However we have some elements of privacy in our structure. The only place where we are not transparent is about our nodes, about where they are so they cannot be attacked. The one thing we do very differently than virtually all the other solutions out there are that we keep a private peer-to-peer network.
“The networking configuration has a closed peer-to-peer socket. It delivers operational efficiency that’s unparalleled and at the same time it’s incredibly secure so there is no possibility for forks the way there are with all the other open systems.
“The beauty of our model is that it allows us to incorporate emerging technology. There are going to be other solutions that we can easily incorporate into our ecosystem and which we can evolve over time. We can incorporate all these different models, all these different configurations of ledger technology because that’s all they are.”
DasCoin seeks hybrid solutions within the cryptocurrency space, getting the best out of both centralized and decentralized options. Its permissioned blockchain structure is a prime example. It’s about delivering maximum utility and efficiency.
DasCoin is also pleased to announce its blockchain – which can already be viewed in real time at https://dascoinexplorer.com/ – will be inspected by auditors in the near future. This follows a project commissioned by DasCoin in autumn 2017, in which it sought to promote “serious thinking about the creation of an international auditing standard for Mutual Distributed Ledgers” (MDLs).
The project also drew on the expertise of Z/Yen, one of the City of London’s leading commercial think-tanks, to review what at that time was a limited body of literature on the topic. Four discussion papers were produced that described the issues and explored potential ways in which those issues might be addressed.