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.
CEO Of Allianz: Regulators Should Step In Harder And Outlaw Cryptocurrencies
“I am personally surprised that regulators haven’t stepped in harder.”He was especially addressing the head of Britain’s Financial Conduct Authority Andrew Bailey who was sitting right next to him at the panel discussion. Bailey noted that Utermann’s opinions were ‘’quite strong’’ but he did agree that cryptocurrencies don’t have intrinsic value. Bailey made sure that the FCA is watching closely and that they have the initial coin offering sector under surveillance. Utermann’s stance doesn’t leave any room for negotiation but some of his colleagues at Allianz are more optimistic about the use of blockchain technology. The chief economist at Allianz Mohamed El-Erian said that he also doesn’t believe that cryptocurrency will ever be able to replace fiat money but they will become more widespread. He said:
“Cryptocurrencies will exist. They will become more and more widespread, but they will be part of an ecosystem. They will not be dominant, as some of the early adopters believed them to be.”El-Erian explained that crypto is not dead and the technology isn’t dead also. He is sure that we are about to see more widespread adoption by the private sector but also from the public one. El-Erian concluded that the last year’s frenzy was ‘’unwarranted’’.
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Gemini Founders (Winklevoss Twins) Launch A New Mobile Crypto Trading App
“A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”The twins and Gemini founders also revealed their plans to expand to the Asian crypto market where they will face stiff competition from the thriving exchange industry that includes companies such as Bitfinex, Binance and Huobi.
Founder Of TRON Wishes To “Rescue” dApp Developers Working On Ethereum & EOS
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