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This Week in Dash has been another very productive week for Dash as it continues its journey to becoming Digital Cash for individuals around the world. Continue reading below for a summary of the week.
Dash Network Developments of the Week:
- Dash Accepting Salamantex Inks Multi-firm Payments Terminal Deal: Salamantex, the advance POS terminal that also accepts debit/credit cards and integrates with merchants’ current POS software and recently integrated Dash will ink a partnership with A1 Payment, Ingenico, and Concardis to enable more merchants to accept a variety of digital payments and cryptocurrencies. The rollouts will begin in Austria as that is one of A1 Payment’s main usage locations.
- Dash Latam Tracker In Alpha Release and Shows over 1,000 Real Dash Transactions in the Past Month: Dash Latam is utilizing Dash Retail’s transaction tracker for their 600 plus merchants accepting Dash located mostly in Colombia. Of the 616 total merchants, 280 merchants are considered “active” with over 1,000 transactions and with volume of 48.53 Dash and 7,619.45 USD over the past 90 days.
- Zcoin to Copy Dash’s ChainLocks 51% Attack-Proofing: In a recent post, Zcoin, a privacy-focused masternode-leveraging coin, announced plans to implement long-living masternode quorums (LLMQs), deterministic masternode lists, and ChainLocks, which were each implemented by Dash earlier this year. Imitation being the kindest form of flattery, this action continues a long trend of other coins utilizing Dash’s innovations, including Masternodes, PrivateSend, InstantSend, the X11 mining algorithm, and the Decentralized Autonomous Organization (DAO). The action also illustrates how cryptocurrencies are utilizing their open-source advantage to build upon each other to grow the overall space to benefit individuals.
Dash Integrations of the Week:
- Collaborate Banking App and Debit Card 2gether Adds Dash: 2gether will enable eurozone customers to make cryptocurrencies purchases via the 2gether bank debit card with no charges. The integration builds on top of Crypto.com’s recent debit card integration and will help consumers make purchases via cryptocurrency where there is not yet direct adoption.
- Dash Wallet Expands Payment Options with Apple Watch Integration: The Dash wallet was recently integrated into the Apple Watch series 4 and OS5 to enable consumers to make even easier purchases on the go. The app also enables individuals to view the live spot price of Dash via the Crypto Pro app and make secure payments using Apple’s Face ID recognition. The integration aligns well with the rising preference of consumers to make contactless payments since contactless enable POS terminals are currently around 40.9 million or around 42% of all payment terminals and contactless cards are expected to grow to 10.7 billion, or 57% of all cards, by 2023 from 35% of all cards in 2017.
Dash Core Group Project Updates of the Week:
Here’s an update from Dana Alibrandi, Project Owner, of what’s going on at Dash Core Group this week:
- 🥁 DIP 8 activated
- ⏳ LLMQs continuing to form
- 🤾♀️ Deployed Porto devnet with SPV for mobile teams
- 🤝 Implemented getLastUserStateTransitionHash endpoint to facilitate contact requests in Evo wallets
- 🤑 Implemented a new payment confirmation UI in the DashPay wallet
General News of the Week:
- Bitcoin Fees Pass 10% of Dash’s Median Transaction Value: Dash’s median transaction value has been significantly low, lately, maintaining a value under $20 USD for most days, usually around the $8 to $14 range, but most recently it has been below $3 USD. The low median payment value is an indication of real world payments for everyday items rather than large one-time purchases or large transfers of money between personal wallets. However, Bitcoin’s median fees rose from around $1 over the past 40 days to $3.44 in early June and currently around the $1.43 USD range. This makes Bitcoins median fee over 10% of Dash’s typical median transaction value and over 50% at the widest gap, which are both higher than the typical credit card fees of 2.5-5%. The discrepancy illustrates the repeating problem that Bitcoin has with maintaining an affordable currency network, while Dash has proven it can maintain very inexpensive fees and scale to over 3 million transactions during the most recent stress test.
- Bitcoin Cash Reaches Development Fundraising Goal After Funding Uncertainty: Bitcoin Cash recently reached its fundraising goal of 800 BCH from individual donors, despite an initial lag and frustration from the community. The event led to the community claiming that the project is very decentralized since it took donations from a number of individual parties. However, Dash is able to fund various network developments and community projects with its Decentralized Autonomous Organization (DAO), which has no one in charge and is simply an blockchain protocol that has Dash masternodes vote each month on proposals and a max automatic allocation of 10% of that month’s block rewards.
- Facebook’s Libra Already Has Government Officials Nervous, but History Shows a High Risk of Failure: Facebook has officially announced its new cryptocurrency project, Libra, and while details are relatively light, government officials around the world are calling for at least some degree of regulation if not a full out ban. However, despite the hype, Ryan Taylor, CEO of Dash Core Group and as someone who worked in the payments sector for years, reminded the community of Walmart’s payment system, MCX. MCX was initially praised by payment processors with a wide degree of hype, but it eventually failed due to Walmart’s unfamiliarity with the sector and infighting. Taylor believes the same will eventually happen to the Libra, but will overall benefit the cryptocurrency community due to the greater attention.
- Global Survey Reports Cryptocurrency Adoption Highest in Turkey and Latin America: A new Statista Global Consumer Survey showed that cryptocurrency adoption is the highest in Turkey, 1 in 5 individuals, and various Latin America countries and lowest in Japan. Western Europe and English-speaking countries has the lowest adoption rates, according to the study. The survey’s data somewhat follows the belief that cryptocurrency adoption is highest in countries where banking penetration is lowest and/or banking fees are high. However, the study did not list Venezuela, which has seen significant Dash adoption due to extreme hyperinflation.
Dash Media of the Week:
- Dash News Weekly Video Recap – Crypto.com, Aircoins Treasure Hunt, Dash Text, Telegram, CoinFlip, VegaWallet & More!: If you missed last week’s Dash News, make sure to catch up with Heidi’s newest recap video!
- Dash Podcast 109 feat. Dash Core Group CEO Ryan Taylor: This week the guys are joined by Dash Core Group CEO, Ryan Taylor, to answer community questions. They talk about recent Dash developments including the Dash Investment Foundation, SEC no-action letter, and other recent and upcoming Dash developments. Make sure to tune in to get this valuable knowledge.
As the Dash network continues to develop, more integrations are likely thanks to many different DAO-funded and non-DAO-funded groups educating consumers and merchants about the advantages of Dash as Digital Cash. Make sure to follow Dash News on all of our social media channels to get these updates first.