We all know that the latest crypto news show nothing but steep declines, downward runs and year lows for Bitcoin and many other altcoins. The spring for mass adoption somehow transformed into a triathlon in which contestants are starting to sink in the water and being unable to finish the race.
And while we all know that the blockchain technology needs to be better, some altcoins are working on it. Dash is one of them with its InstantSend transactions which may hold the answer to the future of sending and receiving crypto.
As the latest news show, Dash is actively implementing an upgrade to its InstantSend system and potentially making all transactions instant, permanent and secure. This marks the first time Dash is working on a system like this – and a major step towards making cryptocurrency usable for regular merchant transactions.
Currently, Dash InstantSend is only available as an optional feature that causes the masternode network to lock the inputs of a transaction until they can receive 10 on-blockchain confirmations. With the new update, however, all of the simple transactions will automatically be locked using InstantSend for no additional fee and with no special action or support on the part of the interface.
According to the lead developer at Dash, Udjinm6, the InstantSend system specifications are summed up in these words:
“Auto-locking is working… well, automatically for all transactions which have 4 or less inputs (all with 6+ confirmations) and pay at least the minimal (i.e. normal) transaction fee. There is no need for any user interaction or wallet support, it’s all done on a masternode level. You’ll still be able to use “pure” InstantSend transactions by paying the per-input fee, just like today.”
The controversial cryptocurrency is now on a mission to become the most user-friendly blockchain-based payments method in the world – all thanks to instant payments that replicate the user experience right now.
That said, paying with Dash in the future may be as easy as swapping or tapping a credit card.
Binance Removes US Resident Ban: Launching In “A Month Or Two”
“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
China’s Digital Fiat Currency Is Not A Real Cryptocurrency
“Since last year, the staff at the Digital Currency Research Lab have been working 996 to develop the system. We can say the CBDC is now ready to launch at one’s call," was his speech, later shared by many best cryptocurrency news sites.The CBDC with this aims to replace MO, meaning cash in circulation through a two-tier system. The central bank will issue the digital yuan only to commercial banks, who will further issue it to the public. Meanwhile the PBoC and its Digital Currency Research Lab are the ones standing behind China's digital fiat currency - along with more than 50 patent applications which are all either invented or co-invented by Yao Qian. One patent application reads:
“The emergence of digital currency is an inevitable trend. So far, privately issued digital currency bears the features of anonymity and volatility. Central banks must take their impacts on the payments, monetary systems and financial stability seriously. As such, it’s inevitable for central banks to push for digitized fiat currencies to optimize their circulation.”However, physical cash is still arguably the only form of fiat money inside China that can remain anonymous. We can see that China's digital fiat currency is not close to cryptocurrency - and the only third-party methods which are compared to bank wire can be offered by companies like Alibaba or WeChat - both requiring real-name verification authenticated by users' IDs as well as additional banking information.
“Existing M0 (banknotes and coins) are subject to counterfeit and money laundering risks. … The [CBDC] system should follow the existing rules about anti-money laundering and anti-terrorism financing imposed on cash, and should report to the PBoC on large amounts and suspicious transactions,” Mu emphasized in a speech.
Market With Mixed Signals As Ether And Bitcoin Record Minor Gains
XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis
"Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and could bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market."
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