Cryptocurrency finally approves longawaited chaotic launch scheduled since 2015
The Dash (DASH) cryptocurrency’s Decentralized Autonomous Organization (DAO) has approved the Evolution (Evo) upgrade. In an exclusive interview with Finbold, Joel Valenzuela described the “chaotic mainnet” approach as the “most significant release” for Dash.
The proposal “Evo Accelerated Launch Release Schedule” was approved by Dash masternodes with 68% of votes in favor, announced by Samuel Westrich, Dash Core Group CTO, on June 23. This is considered the “Genesis phase” of the Evolution release.
The Dash Evolution platform is set to be released on July 19 in a “chaotic mainnet” with ongoing development activity. Joel Valenzuela, Business Development and Marketing for Dashpay, compared this release to THORChain’s (RUNE) “chaosnet” launch.
Valenzuela explained that the “chaotic” launch refers to a platform that is not yet perfected while running on the mainnet, a production environment. He also mentioned similarities to the Ethereum (ETH) 2.0 launch, released before the completion of the code for staking withdrawals.
The Evolution upgrade will enable decentralized applications (DApps) to run on the Dash network and create other data storage functionalities. Joel Valenzuela explained that Evo will implement data contracts, a “more efficient version of smart contracts.”
The controversial proposal passed with 67.44% approval, sparking criticisms from the community. However, despite the controversy, the community is mostly in favor and excited about the Dash Evolution platform.
As of this writing, DASH trades at $23.79, down 24.72% year-to-date. Dash is one of the first cryptocurrencies created to solve Bitcoin’s (BTC) scalability, currently with a $280 million market cap.
In closing, Evo will have its launch on July 19, when Dash nodes should upgrade accordingly. This platform will allow novel data storage and transaction functionalities, which could boost demand for the network and the native coin, DASH.
