{"id":15302,"date":"2017-11-09T00:00:00","date_gmt":"2017-11-08T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2017\/11\/09\/dashs-12-2-software-upgrade-reduces-fees-increases-speed\/"},"modified":"2021-09-18T11:39:07","modified_gmt":"2021-09-18T11:39:07","slug":"financialmagnet","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/financialmagnet\/","title":{"rendered":"Dash\u2019s 12.2 Software Upgrade Reduces Fees, Increases Speed"},"content":{"rendered":"

Regular transactions on the Dash network now cost less than one cent.<\/p>\n

\"\"<\/p>\n

Rachel McIntosh\u00a0|
\nNews<\/a>\u00a0(\u00a0CryptoCurrency\u00a0<\/a>)\u00a0|
\nThursday, 09\/11\/2017 |
\n10:26\u00a0GMT<\/p>\n

\"Dash's<\/p>\n

Photo: FM<\/p>\n

Dash\u2019s payment network just doubled its transaction rate and significantly reduced its fees. Regular transactions on the highly anonymous Dash network now cost less than one cent;\u00a0Dash\u2019s<\/a>\u00a0special InstandSend transactions, which are executed in less than two seconds, now cost a mere 2.8 cents. To put that in perspective, the United States Federal Reserve reported in 2015 that the average debit card transaction costs roughly twenty-eight cents, a number that increases along with the transaction amount.<\/p>\n

Meanwhile, transactions on the Bitcoin network have become so expensive, and take so long to be confirmed, that smaller transactions have been priced out of the market \u2013 the average transaction on the Bitcoin network costs a whopping US$6. Additionally, an average of just seven transactions can be processed per second on the Bitcoin network; Dash\u2019s upgrade has\u00a0increased\u00a0<\/a>the number of transactions processed per second up to 48.<\/p>\n

Dash\u2019s Network Was Created for Scalability, Ease-of-Use<\/h2>\n

Ryan Taylor, Dash Core CEO, said that Dash\u2019s increased transactional capabilities come in anticipation of a future in which it is more widely used. \u201cScaling solutions take time to develop, test, and deploy. In the digital currency space, transaction volumes\u00a0can grow quickly<\/a>, so we believe it is critical to stay well ahead of anticipated demand.\u201d<\/p>\n

Additionally, Taylor believes that the popularity of\u00a0Bitcoin could ultimately benefit Dash<\/a>: \u201cBeyond our own network\u2019s growth, there is a real possibility that Bitcoin\u2019s own exponential growth could spill over into other networks.\u201d<\/p>\n

Suggested articles<\/h2>\n

Serenity Financial Offering Unrivaled Level of Customer Protection Go to article\u00a0\u00bb<\/a><\/p>\n

Dash\u2019s network was created with many of the lessons learned from Bitcoin\u2019s network in mind. Dash was built to be easily integrated into online stores, apps, and dapps as a means-of-payment. Dash currently has over a hundred \u2018merchant partners\u2019, including crypto-based debit cards, VPN providers, web and graphic design services, and online stores.<\/p>\n

Consensus and Master Nodes Keep Dash Running with Stability<\/h2>\n

The system of governance created by Dash was designed to prevent the kind of rifts that have plagued the Bitcoin community over the last several years.\u00a0Taylor<\/a>\u00a0said: \u201cBitcoin\u2019s network hasn\u2019t been able to agree on increasing their block size for years.\u201d For Dash\u2019s recent upgrade, \u201cit simply took a vote from our stakeholders and execution in line with our public roadmap, followed by the software rollout.\u201d<\/p>\n

Additionally, the Dash network is made more stable by \u2018master nodes\u2019, computers that are incentivized to hold large amounts of Dash tokens at a time to keep the network running smoothly and prevent major fluctuations in value from happening.<\/p>\n

A single Dash token is currently worth roughly US$330, a 3300% rise from its value of approximately US$10 one year ago. While the network still certainly has a way\u00a0to go before it is adopted for mainstream use, it certainly does show some early signs of a strong network.<\/p>\n","protected":false},"excerpt":{"rendered":"

Regular transactions on the Dash network now cost less than one cent.<\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nDash\u2019s 12.2 Software Upgrade Reduces Fees, Increases Speed - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/financialmagnet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dash\u2019s 12.2 Software Upgrade Reduces Fees, Increases Speed - Dash\" \/>\n<meta property=\"og:description\" content=\"Regular transactions on the Dash network now cost less than one cent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dash.org\/news\/financialmagnet\/\" \/>\n<meta property=\"og:site_name\" content=\"Dash\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DashPay\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-08T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-18T11:39:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.financemagnates.com\/wp-content\/uploads\/2017\/11\/374483_10151635553089809_862401040_n.jpg?x14075\" \/>\n<meta name=\"author\" content=\"dash\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dashpay\" \/>\n<meta name=\"twitter:site\" content=\"@dashpay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dash\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dash.org\/news\/financialmagnet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.dash.org\/news\/financialmagnet\/\"},\"author\":{\"name\":\"dash\",\"@id\":\"https:\/\/www.dash.org\/#\/schema\/person\/49e370ea57b37d1186318dab9e4e6513\"},\"headline\":\"Dash\u2019s 12.2 Software Upgrade Reduces Fees, Increases Speed\",\"datePublished\":\"2017-11-08T16:00:00+00:00\",\"dateModified\":\"2021-09-18T11:39:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.dash.org\/news\/financialmagnet\/\"},\"wordCount\":507,\"publisher\":{\"@id\":\"https:\/\/www.dash.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.dash.org\/news\/financialmagnet\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.financemagnates.com\/wp-content\/uploads\/2017\/11\/374483_10151635553089809_862401040_n.jpg?x14075\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.dash.org\/news\/financialmagnet\/\",\"url\":\"https:\/\/www.dash.org\/news\/financialmagnet\/\",\"name\":\"Dash\u2019s 12.2 Software Upgrade Reduces Fees, Increases Speed - 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