Dash has solved everything that plagued BTC as a digital cash, we scream it from the rooftops, and no one cares. One day this will have to change due to an emphasis on actually using cryptos, and Dash will really make some noise in this space.
Amanda B. Johnson expresses: Cryptocurrency is changing the world. It is helping people save on remittances. It is creating whole new micro economies and its blasting through many of the barriers presented by traditional payment methods except why are the fees on networks like Bitcoin and Ethereum so high?
Some news headlines: Ethereum Transaction fees are rising too high. Bitcoin fees are skyrocketing ahead of Bitcoin halving. $99 Gas Fees on Ethereum are crippling DeFi’s growth.
Well, the fees hikes is because these kinds of networks have limited processing capacity. So, in times of high demand their users end up in bidding wars against each other to compete for the limited processing that is available.
It seems weird though right. Why would a cryptocurrency have an arbitrarily low processing capacity? Well, the reason is that networks like Bitcoin and Ethereum run on what we call a volunteer infrastructure.
In a volunteer infrastructure most of the network’s vital computers are run by people who don’t get paid. As a result they are likely to run their computer just out of their house or using a cheap virtual private server that can only handle so much capacity.
So, if developers on these networks were to increase processing capacity, it would meant that many of the vital computers would need to be upgraded to data center grade hardware and bandwidth and that costs money and given that they are unpaid, it is likely that many of them would being to drop off and there goes your network.
So, what is the solution well as with any problem, there are likely many solutions, but there is one in particular that has been running successfully for over 6 years in the cryptocurrency space already. And that is the paid service computer also called a Master Node.
Paid Service computers then solve the problems presented by volunteer infrastructure because the people running them can use their earnings to upgrade to data center grade hardware and bandwidth. This means that networks like Dash and many other cryptocurrencies that have copied Dash’s innovation are able to scale up to meet the demand without having to worry about critical computers dropping off the network.
In fact, a study by the Arizona State University Blockchain laboratory indicates that thanks to its paid service computers. The Dash Network can scale to VISA level processing capacity. So, this means that Dash’s current transaction fees which are already ultra-low in to the indefinite can stay ultralow in to the indefinite future even if and when demand grows to VISA levels.
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