Bitcoin, Crypto currency, Blockchain

Dash block size increases to 2 MB, the transaction charges would be reduced to almost Zero

4995da4aafca361a498105428f2a1045 - Dash block size increases to 2 MB, the transaction charges would be reduced to almost Zero

Dash announced on Wednesday, the 08.11.2017, the Release of Version 12.2. With the release of the block is increased in size to 2 megabytes (MB) and the transaction cost is reduced to virtually Zero. The Upgrade sets, in contrast to Bitcoin, according to the “Dash Evolution” Roadmap to an On-Chain solution for the scaling.

Already in the beginning of 2016, there was in the Dash-Community (master nodes) a vote of the outstanding 99 percent for an increase in the block size from 1 to 2 MB have voted. Thus, Dash will be able to (expected to) 48 transactions per second. In comparison: Bitcoin creates with 1 MB of about 7 transactions per second.

Contrary to the space stag Bitcoin, has decided the cancellation of the SegWit2X Forks, seemingly for an Off-Chain-scaling solution (Lightning), followed Dash a On-Chain strategy. The increase in the block size is carried out in the framework of the announced at the beginning of the year-On-Chain-scale plan, whereby the developer behind Dash want to show that the scaling on the block chain is possible.

It is also important to know that there is currently an extension of the Blocksize would have been even necessary, since the current size of 1 MB for the current transaction volume is perfectly adequate. Due to the long-term goals and the high volatility of the markets they wanted to be, according to a statement from the CEO of Dash, but for future developments.

Transaction costs on the Dash drop to Zero

The second major change, which brings a Dash 12.2, is the reduction of transaction costs by a factor of 10. In order for Dash transactions should now be less than a US penny and Instant-Send transactions to 2.8 US cents to fall. Here, too, Dash pursues a different strategy than Bitcoin. According to the CEO of Dash, the low transaction costs should be an important basis for a long-term development of the network.

Dash Evolution: Digital currencies for Everyone

In June of this year, the Dash Roadmap Version 2.2.1 was released, and a Dash of Evolution. According to the Roadmap, the goal was proclaimed that Dash to be the first mass-market, and scalable currency platform is actually suitable for everyday use. The Evolution should take place in three phases and with each new Version/ Upgrade of the processing power, user-friendliness, scope of functions and the scalability of the network can be improved. The Upgrade to Version 12.2 is the first step to “Dash Evolution”.

The most important Changes and enhancements Version 12.2 at a Glance:

  • Increase the block size to 2 MB
  • Reduction of the transaction fee by 10 times
  • Correction of errors in InstantSend
  • PrivateSend improvements, which will enable the user to have mixed funds available much faster
  • more diverse, very technical Changes

Source: dash.org

Dash is with a market capitalisation of about € 2.2 billion (as of 11. November 2017), the sixth largest Cryptocurrency in the world. The price is 230 Euro on 5. November, nearly 300 Euro to rise.

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