This week has been another fabulous week for Dash with some awesome news developments! Continue reading to get a summary of the week!
Breaking Dash News of the Week:
- Dash Introduces ChainLocks to Mitigate 51% Attacks: Dash has introduced DIP 8, called ChainLocks, by utilizing Long Living Masternode Quorums to help further mitigate 51% attack risks. Dash Core Group developer, Codablock, said ChainLocks “preform a verifiable network-wide measurement/vote of the ‘first-seen’ rule” by having “LLMQ of a few hundred masternodes selected and each participating member signs the first block that it sees extending the active chain at the current height”. Then “if enough members (e.g. >= 60%) see the same block as the first block, they will be able to create a P2P message (CLSIG) and propagate it to all nodes in the network”. ChainLocks are also resistant against Sybil attacks since attackers cannot easily spin-up nodes since each Dash Masternode requires 1,000 Dash. Overall, ChainLocks is revolutionary in that “miners AND Masternodes representing 51% of each of the layers would have to collude in order to perform a working attack”.
- Dash Ranked #1 in New Payments Coin Research: In a third party report, a researcher studied all payment coins and evaluated them by security, availability, user-friendliness, technical user aspects, and maintenance. Each coin was awarded points in each section and each section was weighted based on its relative importance. Dash scored well in all areas and excelled in low transaction fees and fast confirmation times. When the final points were tallied, Dash was ranked #1, which communicated how Dash excels as an everyday spendable cryptocurrency for transaction made in real life.
Dash Developments of the Week:
- Ways to Spend Dash Even in a Bear Market: It might be a bear market, but learn how to spend and save with Dash from Joël Valenzuela who lives completely of Dash and no bank accounts! Individuals can earn free Dash by making purchases through Rewards.com; whether the purchases are made through a Dash accepting merchant or in fiat, Rewards.com will reward consumers with Dash. Bitrefill sells numerous gift cards ranging from ecommerce, food, gaming, mobile phone airtime, home improvement, and more and currently has an ongoing promotion where Dash purchases will receive 10% off. If you live around a merchant using the AnyPay POS, then purchases will receive some DashBack. Using Dash for remittances or trading will save consumers fees over what is typically charged. Then there is the option of Masternodes and pooled Masternodes to begin receiving more Dash for offering a service to the network.
- Dash.red Announces New Game: Dash.red will introduce their first multi-day YouTube game: “Los 12 Días de Navidad”, which starts on December 1, 2018 and gives individuals a chance to win Dash while also having fun and learning about Dash. The game will feature a 3 in 17 lottery with each user having 12 chances to pick combinations and the opportunity to earn 6 extra chances by successfully answering Dash trivia questions. Each winner will receive 500,000 Duffs and the game provides an easy on-boarding experience for individuals to see how seamless it is to earn, use, and spend Dash.
Dash Integrations of the Week:
- Dash Reaches More Merchants with ePayments partnership: The partnership with the global payment processor that specialized in high chargeback industries will allow Dash to reach more merchants in the gaming, higher education, legal cannabis, and similar industries. Cryptocurrencies provide a solution since chargebacks cannot be made on the blockchain, which then allows those savings to be passed onto consumers. Dash offers these services in a consumer friendly and everyday usable package that further makes merchant adoption viable.
- Dash Thailand Grows Dash Adoption with Focus on Merchant Needs: Dash Thailand has set up 19 merchants and 84 users wallets over their last two months of operations by focusing on merchants’ needs; their own businesses. Dash Thailand pitches Dash adoption by communicating to merchants that it will get them more customer who prefer to spend Dash. They are also focusing on the tourism industry to create a cool and hip environment for Dash.
- Dash Expands Liquidity in Nigeria As Presidential Candidate Promises Regulations: Dash Nigeria has integrated with Kurecoinhub in Nigeria to offer greater liquidity to Nigerians along with the ability to bank with Kurecoinhub and take out a loan on their cryptocurrency. This comes as the opposition presidential candidate has made a pledge to regulate cryptocurrencies if elected. However, little details were revealed so there is still a lot of unknowns.
General News of the Week:
- Gab Embraces Cryptocurrencies: The controversial social media platform turned to cryptocurrencies after they lost mainstream payment processing services. They opted to use BitPay after Coinbase already denied them service, but this integration was short lived since BitPay quickly classified Gab as “high risk” and terminated their account. The event not only demonstrates the importance of decentralization, but also mass adoption. Cryptocurrencies do not require third party processors, but they help users convert into fiat to pay bills that do not yet accept cryptocurrencies. As a solution, Dash has prioritized adoption and, over a few short years, already has over 4,200 merchants directly accepting Dash.
- Venmo Experiences Unexpected Fraud Loses, Increases Fees and Shuts Down Features: The popular payment processor suffered 0.4% losses due to fraud during Q1, which is 40% higher than the expected 0.24%. Of the $40 million USD lost, 15% came from website services, which comprises only 2% of Venmo’s services, with the other 98% occurring on the app. As a result, Venmo disallowed payments on their website and temporarily disabled its new instant deposit feature. Venmo reintroduced its instant deposit feature days later with a 1% charge rather than the previous $0.25 charge. Instead, Dash offers InstantSend for $0.01-$0.02 USD, which is about to become even cheaper with Automatic InstantSend in upgrade 0.13.0. Additionally, Dash demonstrates its resilience when it loses significant market valuations during bear markets, but its services continue to exist with no upward fee structure changes.
- Cryptocurrency MarketCap Falls Below McDonald’s, Demonstrates Growth Potential: The cryptocurrency market recently fell below $140 billion USD, which is around the market cap of McDonald’s, the global fast food chain. The comparison helps illustrate how large multinational companies have multiple millions of monthly users to support their valuations, while individual cryptocurrencies have less than a million total active wallet address. Dash recognizes this and continues building infrastructure and user base to help support future real values by truly realizing its goal of helping individuals around the world gain monetary and financial freedom from being unbanked and/or censored.
Dash Media of the Week:
- Three Amigos Podcast with DashPay Dev, Alex Werner: This week, the guys chat with Alex Werner from Dash Core Group about the progress of developing DashPay, scope of the platform and Evolution, Dash usernames, answer community members’ questions, and more. Make sure to tune in since you do not want to miss this valuable knowledge!
As the Dash community moves from Dashvember into Dashcember and approaches the new year, Dash is productively building future infrastructure with new developments, integrations and announcements! Stay tuned into our site and social media networks to see all the upcoming Dash News! We hope that our content and coverage was very informative and enjoyable this week and we cannot wait to see what awesome Dash News awaits us next week!