This week has been a pretty big week for Dash after digesting the news that was announced at the Dash Open House in Scottsdale, Arizona over the weekend. Keep reading to get a summary of the week.
Dash Network News of the Week:
- Dash Core Group Announces Bold Ideas to Improve Dash’s Lagging Market Performance: Ryan Taylor, CEO of Dash Core Group, outlined at the Open House in Scottsdale Arizona how Dash’s current reward split of 45% to miners incentivizes them to sell immediately to cover thin margins and 45% to masternodes encourages them to keep Dash off the market (currently around 53% of total Dash supply). These factors combine to make Dash’s exchange price experience above average price appreciations and depreciations when the overall cryptocurrency market swings. Adding to the poor market performance is that Dash is relatively young when compared to other coins and thus has a higher inflation rate. This has led to Taylor proposing solutions that include decreasing the emission rate for the coin, reduction of the percentage of block rewards going towards proof-of-work mining, and possible even eliminating proof-of-work entirely. However, this came with the caveat that change will only be implemented after a lengthly community wide discussion and vote.
- Ryan Taylor Explains Unique Pain Point Dash Platform Solves for Consumers and Merchants: Ryan Taylor appeared on the The Cryptoviser to discuss the upcoming Dash Platform, formerly codenamed Evolution, and how it is a “decentralized API and basically data infrastructure that allows anyone to create an application that will store the data, the application data, within the Dash network and retrieve that information and interact with the network directly”. Taylor went on to describe how some applications include usernames, data contracts, and other features, but will enable developers to build their own visions on top of the Dash network.
- Active Dash Wallets Are Up 410% Annually in Venezuela Indicating Rapid Adoption: Dash has seen a 410% increase in Android devices using the Dash Wallet in Venezuela from May to November of this year, which increased from 7,587 active wallets to 39,759 active wallets over seven months. The “active wallets” definition includes actual activity since the data only counts devices that have had their wallet online within the past 30 days. The data supports the growing trend that Venezuelans are still looking for everyday usable alternatives to the bolivar as it continues to depreciate on a daily basis.
- Dash Pooled Masternode Operator Moocowmoo Refunds Customers After Exit Scam #FakeNews: Bitcoinist published a false report that Moocowmoo, a former Dash developer who operates a pooled masternode shares service, had performed an exit scam and disappeared with customer funds. However, after the article was published, multiple online comments, some of which were verified by Dash News, said that they had received their funds. Nevertheless, the event brings attention to the need for further decentralization, which Ryan Taylor, CEO of Dash Core Group, recently discussed at the Dash Core Open House in Scottsdale, Arizona.
Dash Integrations of the Week:
- PolisPay Releases Two New Dash-Supporting Cryptocurrency Debit Cards: PolisPay, a blockchain payments solution, has released two new cryptocurrency debit cards, one a gift card system and one a direct debit system, that can allow users to buy items almost anywhere with Dash. The first solution is the Epay Mastercard card, which users can top up from within the PolisPay app, and thus allows Dash to be spent in over 30 countries. Users can spend up to €100 online and offline anonymously per month, but can increase their limits to €4,000 (or €36,000 annually) through a verification program. The second card is through a partnership with card provider Union Pay that provides a more classic debit card-like solution, where conversions from Dash occur in real time at the point-of-sale.
- Turkey’s Largest Cryptocurrency Exchange BtcTurk Integrates Dash: BtcTurk, Turkey’s largest cryptocurrency exchange, has now integrated Dash into the platform with Bitcoin (BTC) and Tether (USDT) trading pairs, as well as Turkish lira pairs on the PRO version, expanding liquidity options in the country. This comes at a time when Turkey has been suffering from 10%-20% annual inflation of its currency. Dash is no stranger to Turkey since the network has made multiple outreach events in the country before.
General News of the Week:
- Top Deutsche Bank Officials Predict Cryptocurrency Becoming Mainstream by 2030: The global financial and investment banking giant has released its Imagine 2030 report where top bank officials attempt to predict the “decade ahead” and see cryptocurrency entering the mainstream providing that it can overcome key hurdles. These hurdles include becoming legitimate in the eyes of governments and regulators, bringing stability to the price along with bringing advantages to consumers and merchants, and allowing for global reach. The positive news for Dash is that Dash has been working with exchanges and regulators to explain its services to avoid crackdowns and delistings, proposing new ideas to help stabilize price, and forging key partnerships to extend the reach of Dash.
- VeChain Foundation Loses 2% of Coin’s Entire Supply in Hack: The foundation’s VET buyback address had been compromised, which has resulted in the loss of approximately 1.1 billion tokens or 2% of the entire coin supply. The hack draws attention to the need for better cryptocurrency security while also keeping the network decentralized. For example, Dash’s treasury receives a max of 10% of each month’s block rewards and automatically distributes it to winning proposals. This avoids having a central repository of network funds that is a honeypot for hackers.
Dash Media of the Week:
- Dash News Recap: Travala & Booking.com, Brazilian Cryptocurrency Exchange, Ryan Taylor, Kenn Bosak & Michael Nye: If you missed the past couple weeks of amazing Dash news, then make sure to tune into Heidi’s latest recap video to get a summary of all the Dashiness.
- Dash Podcast 134 – Ask Dash Core Group CEO Ryan Taylor Anything!: This week, the guys welcome Ryan Taylor, CEO of Dash Core Group, to do a Q&A session about the recent Dash Open House in Scottsdale, Arizona where Dash development progress was shared, along with an opening proposal by Taylor to discuss potentially changing Dash’s mining/masternode reward allocation. Make sure to tune in to hear your questions answered, ranging from Dash Core Group proposal questions, Dash Platform and development questions, the possibility of changing the block allocations for mining and staking, and more!
This week has been a very eventful week with discussions surrounding the recent Dash Open House, more integrations, and general news. Continue following Dash News through the website and social media to get all the future news as it is released.