The Instantsend Functionality From Dash Locks In Transactions Immediately

Steven Anderson By Steven Anderson November 27, 2019 0
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Dash moves your money your way.  Travala is a service that permits users to pay for their hotel stays using cryptocurrency.

Travala, CEO Matt Luczynski, stated, “This partnership allows our users to access Booking.com’s accommodation listings, as well as the listings from several…”

About 20 major crypto assets including Bitcoin (BTC), Ether (ETH), Dash (DASH), Bitcoin Cash (BCH), Litecoin (LTC), EOS, Stellar (XLM), Cardano (ADA), Binance Chain (BNB), Monero (XMR), Tron (TRX), XRP and Dai (DAI) can be used to pay for stay using crypto at Booking.com.

Ryan Taylor, Dash Core Group CEO, stated that Dash is wholly focused on keeping up to date with the Bitcoin codebase.  He stated that they have been rejecting updates like Replace-By-Fee and Segwit as they were focusing on scaling solutions other than on the Lightning Network.

Taylor, during the interview with Abra Money 3.0 podcast with CEO Bill Barhydt, stated, “We’re based on Bitcoin’s codebase, and we do maintain backporting of the features that are rolled out to Bitcoin. We don’t deploy everything. There are some obvious ones that we wouldn’t want to do like RBF, which is “Replace-By-Fee.”

During the interview, they have been discussing how the volatility issue was real and about how much impactful it was for a smaller currency like Dash.  Dash has 25% more volatility than the Bitcoin.  However, one major advantage is that Dash has its speed.  If the time is compressed, he stated that the volatility can be reduced.

The cryptocurrency fluctuation risk can be taken up by cryptocurrency exchanges who honor InstantSend transactions only for a couple of minutes or for just one confirmation. However, during the period of one hour, the volatility of Bitcoin changes very drastically.  However, there will not be a lot of volatility in just two minutes.  Dash speed is ideal for transactions where investors are trying to deal with volatility issues when they are just getting in and getting back out. 

The InstantSend functionality from Dash locks in transactions immediately.  Dash’s instant transaction technology is yet to gain recognition from onboarding exchanges.  The problem is several cryptocurrency exchanges are like “you need six confirmations” regardless of your security model. Dash is now having to go out and educate the exchanges on different scenarios like “What happens if I don’t see a ChainLock?” “What happens if I don’t see the InstantSend lock?” “How do I manage risk in certain edge cases?”

DashCore v0.14.0.4 is was released.  While this is a minor release, it is not mandatory.  This version provides for several bug fixes, and the optimization is mainly focused on improving on the InstantSend stability, which is related to the recent stress test based findings.  The upcoming release of the forthcoming release of DashCore v0.15! It is much awaited.

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