This week has been another productive week of Dash developments, integrations, and general news! Continue reading to get a summary of the week!
Dash Network Developments of the Week:
- Alert – MyDashWallet has Major Bug Vulnerability: This week, it was revealed that MyDashWallet, developed and maintained by an independent developer, had a major vulnerability that allowed a hacker to obtain some private keys used between May 13th and July 12th. Out of an abundance of caution, anyone that used the wallet between those dates should assume their private keys are know and move their funds immediately. Dash Core Group is working with the developer to resolve the issues.
- Results from CrowdNode Masternode Share Votes Reflect Network-Wide Vote: CrowdNode enabled individuals that held a portion of Dash Masternodes on their platform to have a proportional vote in the Dash Investment Foundation Supervisors election. The top four choice for Supervisors on CrowdeNode’s platform matched the top four Supervisors elected by the wider network. The alignment is an indication of similar thinking by individuals holding less Dash and full masternode operators, which supports the argument that many Dash Masternodes will reflect the overall opinion of the Dash network.
- Dash’s Mass Adoption Strategy Unveiled by Business Development Manager Ernesto Contreras: In an interview with Bloxlive.tv, Ernesto gave an outline of Dash’s business development strategy to grow the network. Ernesto outlined four specific areas to target with Dash adoption; places suffering from hyperinflation like Venezuela, industries with a lot of chargebacks like e-gaming, cash-only industries like the U.S. cannabis industry, and remittance corridors. Additionally, Ernesto highlights InstantSend’s appeal to traders thanks to its quickness and inexpensiveness. Ernesto believes that focusing on these industries will enable Dash to see adoption without a major financial catastrophe forcing people to use cryptocurrency.
Dash Integrations of the Week:
- Dash Thailand Partners with Consentium the Crypto Wallet, Chat and Community App: Dash Thailand has gotten a partnership with the socializing and messaging platform that also enables individuals to transfer cryptocurrencies between each other and rewards community organizers with cryptocurrency. The platform attempts to incentivize individuals to use cryptocurrency and Dash by creating a community around cryptocurrency, which aligns with Dash’s strategy of building a community to help convince consumers on the margin to add Dash to their payment methods.
- Poloniex Adds New Dash Pairs, Lex Exchange Integrates Dash Expanding Liquidity: The popular cryptocurrency exchange, Poloniex, will be adding a Dash/USDC trading pair, which adds to its previous trading pairs with BTC, XMR, and USDT. Then Lex Exchange will be adding Dash trading pairs with BTC and the Australian Dollar. The additional liquidity will help increase the price discovery of Dash and aid in the decreasing of volatility. It also adds more on and off ramps that make it easier for consumers and merchants to use Dash as they operate in both the fiat and cryptocurrency ecosystems
Dash Community Outreach of the Week:
- Dash Force Meetup Contest Winners – June 2019: June had an upswing in meetup success with 40 wallets set up and 79 attendees across 5 meetups. The meetups were held in West Africa, East Africa and Russia this month. Make sure to read the article to see who won some Dash and how you can win some Dash by hosting your own local Dash meetup.
General News of the Week:
- Wasabi Wallet Founder: Bitcoin Fees Will “Price Out” On-Chain Privacy: Adam Ficsor, the co-founder and CTO of privacy development group zkSNACKS responsible for the popular Wasabi privacy wallet has said that “privacy will be priced out of Bitcoin’s main chain” due to increasingly high transaction fees. The current Bitcoin median transaction fee is not terrible at under $1 USD, but it was at $3.72 USD two weeks ago and went as high as $34 during the 2017 market surge. Alternatively, Dash offers PrivateSend, which uses a decentralized network of 5,000 masternodes rather than single servers on Wasabi and CashShuffle. Additionally, Dash’s release of New InstantSend makes PrivateSend mixing much fast than it was previously.
- WeChat to Enter Cryptocurrency Game, Compete With Facebook, Telegram and WhatsApp?: Not too long after Facebook’s announcement of the Libra, The People’s Bank of China announced plans to launch their own cryptocurrency. Many believe China is pursuing this venture to maintain its control over cross-border payments, monetary policy and financial sovereignty and that WeChat will be a strong contender to facilitate the cryptocurrency usage. WhatsApp is also planing to launch its WhatsApp Pay platform in India. However, Dash is already ahead of these competitors with Dash Text enabling payments via SMS and Telegram.
- Survey Shows Gen Z Uninterested in Crypto Investing, Misleads on Youth Industry Participation: A new Business Insider survey showed that Gen Z individuals, mostly teenagers, are uninterested in purchasing cryptocurrency, but did not explain why they were not interested. This differs from other studies that show that Millennials, individuals in their 20s and 30s, are interested in cryptocurrency as an alternative investment. Dash is attempting to expand its appeal by associating with a broader range of applications, such as the treasure hunt app Aircoins.
- British Airways Fined $230 Million After Losing Customer Data To Hackers: Hackers stole names, email addresses and credit card details including card numbers, expiry dates and three-digit CVV codes from British Airway customers. As a consequence, British Airways has 28 days from the time of notice to appeal the fine, or pay $230 million.
Dash Media of the Week:
- Ryan Taylor – ChainLocks Makes Dash “The Most Secure Cryptocurrency, Even More So than Bitcoin”: Ryan Taylor, CEO of Dash Core Group, gave a video interview with Bloxlive.tv to talk about Dash’s recent network developments of ChainLocks, New InstantSend, DIF, and coming Evolution. Ryan specifically highlighted how most cryptocurrencies must wait a few blocks, six in Bitcoin’s case, which can take an hour, to get certainty around its security. However, ChainLocks now allows that within “four to six seconds”, which is integral for physical merchants that hand over their product immediately. Ryan also highlighted how this, combined with New InstantSend, makes transactions instantly respendable, which is useful in cases when a consumer buys Dash at a merchant’s ATM and immediately wants to buy something.
- Dash News Video Recap – ChainLocks Activated! Instantly Re-Spendable Payments! + Supervisor Election Results!: If you missed last week’s amazing Dash news, make sure to check out the video recap by Heidi, Dash News Presenter!
- Dash Podcast 112 – Intro To Dash Platform feat. Dana Alibrandi from Dash Core Group: This week, the guys chat with Dana Alibrandi about how Dash Core Group is refining the value proposition of Dash Platform in order to attract more future users and developers to the Dash DAPI and Dash Drive, including showing the presentation they are currently giving to students. He highlighted how the first iteration of Dash Drive will not be conducive to rich media, only text, but will be well suited for supply chain tracking, such as seed-to-sale software for cannabis industries. Make sure to tune in to get this valuable knowledge
Dash continues to build out its network with innovative features and integrations to help consumers and merchants use the platform better. Even during a independent wallet compromise, the Dash network is working hard to protect and take care of its users. As time progresses, Dash will release even more innovative developments and integrations to take care of its users. Make sure to follow Dash news to get all of this soon-to-come news, first!