Darma Cash (DMCH) Project Annual Summary 2020

Darma Cash (DMCH) Project  Annual Summary 2020
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Darma Cash (DMCH) Project Annual Summary 2020

Published on October 28, 2020 11:03 GMT+0

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The Darma Cash (hereinafter referred to as DMCH) project mainnet has been online for one year. This year the world faced various black swan and gray rhino incidents such as the COVID-19 virus and the economic crisis. Actually, it has also been a very hard year for the DMCH project team. Fortunately, we overcome all the difficulties. Therefore, we appreciate the support of the community and the attention of the industry. Now let's summarize the work done in the past and look forward to the work ahead. 

1. VISION

The vision of the DMCH project has been clear, that is "Create a Utopian World of DMCH". In this world, we hope everyone can protect their privacy and gain true freedom.

2.WORK REVIEW

Since the DMCH project was launched in the fourth quarter of 2018, a lot of valuable work has been done. Please refer to the table below:

2018.Q4 - Darma Cash (DMC) project preparation.

2019.Q1 - Darma Cash (DMC) project kick off.

2019.Q4 - Mainnet was online.

2019.10 - Android wallet was released.

2019.12 - iOS wallet was released.

2020.Q1 - PoW+PPoS was released for testnet.

2020.Q2 - Smart Contract (WASM based, C/C++) was released for Testnet; Ticker symbol was changed to DMCH.

2020.06.17 - DMCH mainnet was upgraded to V2 with PoW + PPoS

2020.06.24 - DMCH V2.1.0: Sub address feature was delivered.

2020.07.14 - DMCH V2.1.5: Fixed p2p sync bug.

2020.08.01 - DMCH V2.1.7: Optimized Block-DAG algo.

2020.08.10 - DMCH V2.1.8.2: Fixed sync problem caused by PPoS node.

2020.08.17 - DMCH V2.1.8.3: Optimized sync speed.

2020.09.01 - DMCH V2.1.19: Optimized Block-DAG algo.

2020.09.24 - Launched the DMCH Project JavaScript API and optimized the ring member selection algorithm.

2020.10.12 - CLSAG was integrated. DMCH is the first project in the world to support CLSAG signature algorithm on the mainnet.

2020.10.16 - V2.2.1-1016: A new interface was added to force the mining pool to sign the share.

2020.10.21 - Optimize the PoS algorithm to make the PoS profit more fair.

In 8 months, DMCH V1 version:

  • The daemon has been updated 35 times in total, updated every 7 days on average;
  • The Android wallet has been updated 12 times in total, updated every 20 days on average

In 4 months, DMCH V2 version:

  • The daemon has been updated 27 times in total, updated every 5 days on average;
  • The Android wallet has been updated 14 times in total, updated every 9 days on average.
  • The iOS wallet has been updated 4 times in total;
  • The mobile wallet P2P sync speed is optimized. 

We have taken the Monroe project forward with elegant code:

  • Use GO language to rewrite the Monroe project;
  • Integrated and improved Block-DAG technology to increase the TPS and security of the chain;
  • Deployed smart contracts based on WASM and supported C/C++ programming language;
  • Integrated CLSAG signature to further reduce transaction volume;
  • Deployed the PoW+PPoS consensus mechanism to make the project more environmentally friendly;
  • Deployed a triple incentive mechanism: PoW, PoS, and PPoS nodes;
  • Released decentralized mobile wallet for easier user access;
  • Deployed sub-address, which not only increased privacy but also completed the mapping between UTXO and account model
  • There are a lot of other achievements that are not worth mentioning here.

The functions that have been delivered are all finely crafted works of art. We completed the development of WASM based smart contract in the DMCCH V1. DMCH V2 will officially integrate EVM. DMCH will be the first public chain that supports both WASM and EVM virtual machines. We are very satisfied with the current state of DMCH, which is a nearly perfect public chain.

3. NEXT WORK PLAN

DMCH now supports Turing complete smart contracts. The smart contract is based on the WAMS virtual machine. In the first quarter of 2021, we expect to upgrade the DMCH V2 to the DMCH V3 version with EVM and a new compiler enabled, which will help speed up eco-system development of DMCH. 

DMSwap will be launched on the ETH mainnet in early November this year. In December, Anonymous tokens and new bulletproof algorithms are supposed to be delivered at DMCH mainnet. 

Basic IM function based on P2P nodes is under development, and this function is only open to DMCH PoS users in the early stage.

In addition, we will add several interesting features as community suggested into the DMCH wallet:

• 2FA Authenticator on chain;

• Ad on chain.

4. COMMUNITY WORK

DMCH will continue to bring real and usable products to community members who trust DMCH. Although DMCH is not completely open source, we have used products we delivered in the past year to prove that we are an efficient and credible development team. We hope that more and more people will join the community and realize our vision with us.

With the help of community members, DMCH has established partnership with talented industry players such as CMC, Coingecko, Blockfolio, Delta, Hotbit, CITEX, ZT, CEO, and BIKI. We hope that community members can continue to support the DMCH project team and let more people know the vision of the DMCH project because DMCH will eventually be a community project. Today, when centralization is becoming more and more serious, we hope that more people will use our products, which will help them get rid of the problems caused by centralization. This is our original intention to create the DMCH project.

In order to further speed up the development of the DMCH community, we have donated 3% of the pre-mining to the community in June 2020. In the near future, we will establish a node and stake the 3% pre-mining. 

At the same time, we will divide the DMCH community into three major areas: APAC, EMEA, and AMER. The head of APAC is Kaka, Bruce, Brown, David; the head of EMEA is SolFly; the head of AMER is Solensson. Charles, as a community member with good coding skills, will support the work of each area. We lost contact with Lamp and Vincent for some time and hope both of them are all right.

The necessary expenses of the community will be covered by the profit of pre-mining staking. In order to avoid unnecessary suspicion, all the previous expenses are borne by our development team. Every member of the community has the right to get rewards from the pre-mine staking profit, and we will adopt the results-oriented reward mechanism.

We sincerely hope that the DMCH community will have a group of members who share the vision of the DMCH project.