Dash has partnered with cryptocurrency ATM and merchant solution provider IQ CashNow, adding an additional over 1,000 Dash-accepting merchants as well as integration into over 250 additional ATMs, growing Dash merchant adoption significantly.
— PR Newswire Finance (@PRNfinance) September 5, 2019
Announced today, the Austria-based company has added support for Dash on its platform. This has added over 1,000 additional merchants accepting Dash across Austria, Spain, Greece, Italy, and Turkey, as well as the US and Ecuador, in addition to over 250 supporting ATMs. According to Jan Heinrich Meyer, CEO & Founder of Dash Embassy which negotiated the integration, this partnership rapidly accelerates the global adoption of Dash:
“Dash is now available to more people than ever. This partnership not only puts Dash and IQ CashNow closer to their shared mission of driving global adoption of cryptocurrency, it also makes transactions faster and cheaper for merchants across key countries and regions already seeing tremendous crypto growth.”
As part of the partnership, in the future plans are in place to provide promotional and educational material at participating merchants in order to educate customers and further drive adoption. IQ CashNow payment terminals accept cryptocurrency payments, with acceptance of traditional payments such as credit cards planned soon.
Dash’s trifecta of speed, security and economy
Acording to IQ CashNow CEO Gerald Wirtl, Dash was an attractive option because of its winning combination of low fees, high speed of settlement, and advanced security:
“Dash was an attractive addition for IQ CashNow because it’s capable of settling transactions instantly. Low fees, transaction speed, and security are all core elements to our customers and towards driving broader adoption of cryptocurrency, and we feel Dash is a perfect fit.”
Dash transaction fees have remained very low since its inception, costing a small fraction of a cent at time of writing, providing an economical method of transacting. Following the activation of version 0.14 (and subsequent performance patch), all transactions are now both instantly confirmed and instantly respendable, creating an unparalleled digital cash experience. Finally, the implementation of ChainLocks significantly improves Dash’s security, possibly exceeding that of Bitcoin, creating one of the world’s most secure payment networks.
The rapid growth of Dash adoption during a harsh bear market
Despite prices far from all-time highs in both USD and Bitcoin terms, Dash has continued to increase its integrations and usability worldwide. This month alone, in addition to the significant IQ CashNow addition, Dash has been added to Vietnamese exchange Bvnex, as well as Bitcoin.com’s new exchange. These additions promise to improve Dash’s utility, chipping away at Bitcoin’s network effect dominance.
Additionally, new research indicates that due to the concentration of Bitcoin mining in China, the network may be vulnerable to a jurisdictional attack whereby authorities target large mining pools and use them to compromise the chain. Dash’s mining distribution has been shown to be less geographically concentrated, and its masternode hosting distribution appears to be concentrated in opposite areas as its mining, requiring a jurisdictional attack to coordinate across many authorities often at odds. Because of this, Dash’s security model may in time prove to be more reliable than that of Bitcoin.