Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Dash with no CEO and no plan?

4 min read

While still trading at around $206 on February 25, 2021, the DASH coin is trading at just under $89 at the time of writing. The graphs show that this is not a “slip”. Last week it was announced that the longtime CEO of the Dash Core Group, Ryan Taylor, is leaving his position at the head of the development team. Was that it with DASH and its promise of a more efficient means of payment?

DASH split in two

The change in leadership is actually not the end of the digital currency, but rather its rebirth. That’s what a developer said in an interview with BTC-ECHO, who did not want to be named. In general, the DASH supporters are polarized.

So far on the one hand there were the people who saw Ryan Taylor as someone who should make DASH internationally known. They approved of the high expenses in the areas of business development and marketing. They also advocated concentrating DASH investments on Venezuela.

On the other hand, DASH supporters criticize that DASH lost sight of the development area – financially and with attention. The displeasure of this side was great. It was said that no real progress had taken place since Taylor was hired. In addition, Taylor would have repeatedly hired people without vision, who often left the company after only a short time and would not have had sufficient expertise in their areas. When it became clear in 2021 that the promised “Evolution” update would not come this year either, the fire began to blaze. Without a developer background, Taylor could not take any network-promoting measures – the disappointment was huge.

The drop that broke the camel’s back

A conflict between board member Mark Mason, in charge of public relations, and Ryan Taylor, which went public earlier this year, is the final straw. Taylor would have “kept” Mason out of projects without his knowledge and without community involvement. However, Mason is paid for doing his job through a special community fund.

In a Online AMA Taylor explains that he only did it to protect the DASH network. According to Taylor, Mason didn’t have the ability to distinguish between “determined” and “aggressive.” This would have led to unprofessional situations with integration partners in the past. Despite this, faith in Taylor, particularly among his critics, is now completely lost.

DASH crime thriller with gamestop vibes

In order to understand the following, it is necessary to know that in the votes, applications for funding are submitted by different projects and entities. The Dash Core Group, headed by Ryan Taylor, has been an applicant since its inception and has always been allocated a share of the investment in developing and building the network.

When the monthly voting on the allocation of fund shares in the Dash community took place in the night from February 21st to 22nd, the annoyance that had been building up among individual developers for months came to a head.

It seemed like the Dash Core Group was going to be defunded. Because, many developers openly stated that they would vote “no” unless Taylor resigned. About six hours before the votes were counted, things were so bad for the then-CEO that he asked for his immediate resignation as CEO and as a member of the board.

The developer explains what was remarkable about it:

About 180 nodes took part in this vote. Of these, few were very large whales, about a handful of large whales and the rest of the voters were made up of many small ones.

My analysis found that the big whales voted overwhelmingly in favor of the motion, allowing Taylor to remain in his role as CEO. The small majority, however, voted no and thus achieved his resignation. … That speaks for a good decentralization in the network, despite the fact that the will of this group was not taken into account for almost five years

An anonymous Dash developer

What are the next steps?

According to the developer, the community is relieved about this result, but at the same time excited to see how the decentralized project will continue. First, the question of the CEO must be clarified. There are three suggestions to choose from.

Some want a new CEO with a developer background, others want Dash to remain topless, and the last group wants the current Chief Technology Officer to lead the Dash Core Group.

An anonymous Dash developer

It remains to be seen who will ultimately fill the new post. Then it should be decided to what extent the separation from Ryan Taylor was actually a profitable idea.

Metaverse will generate new professions by 2030, say experts

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *