This website has acted as a Riskiest Assumption Test (RAT) for the past years or so. An RAT is similar to a MVP, but it is used as a way to collaborate within a certain field and figure out if one’s basic assumptions about a new offering are correct.
The DiMECASH site still works (check out “View Ledger” or “Create a Record” if you like). If you create and fund a dogecoin account, the create function should still work. More importantly, the site calculates and describes a record which you can send from your own Dogecoin Core Server and offers a way to view your record (and any other that contains an address starting with the characters DCx).
The basic premise behind DiMECASH is similar that of https://cryptograffiti.info. The “Send or Add” feature creates a special blockchain transaction that uses dummy receiver addresses to describe the transaction, the sender, the receiver, or any arbitrary data. The system is built around a rather idiosyncratic language construct which only has 58 characters or symbols. Thus, the (obviously unspendable) address is able to convey meaning:
These addresses can be bundled into transactions that can be quite large. In the cryptograffiti version of this, binary data is stored in the system, but in the DiMECASH version, human-readable language is the payload. The system does use OP_RETURN codes by design.
More data can be coded (or hacked) into the transaction amount itself. This is especially useful with currencies which trade at a very low price, such as Dogecoin. The above transaction thus also contain a ZIP code, or a Unix Checksum:
DiMECASH can natively describe an IPFS CID by splitting it in half:
Even if a viewer can’t figure out that the last two addresses describe an external record, they can read enough to get an idea about the content.
I believe that what DiMECASH proves is that identity, payment, and content can all be expressed in a way that is radically distributed. What DiMECASH lacks is a concrete monetization stream. I believe that monetization will come in the form of dozens (if not hundreds) of real-world solutions where the end user may not even be away that they are using blockchain technology.
I have now formed enough partnerships and associations to make emphasis on this site far less useful. After all, if Blockchain and IPFS can together be radically decentralized, why should a website be part of the solution?
DiMECASH may one day become its own currency. I believe that its use of obviously unspendable addresses raises some issues which could be addresses with the core. For now, however, existing currencies are perfectly useable.