A new stress test has shown that the scaling of the cryptocurrency Dash has almost no limits. According to the developers, the network will soon be able to compete with other payment providers such as PayPal. The results of the stress test should now help to revive the currency, as the Dash price has fallen by more than 30% in the last ten days.
Every cryptocurrency stress test is about more than just the number of transactions. For Dash, negative network impact was minimal.
Stress test shows limitless scaling possibilities
The stress test carried out about two weeks ago produced impressive results. Around 3 million transactions were carried out over a 24-hour period. It achieved 35 transactions per second – four times the result of the last stress test carried out in the summer of this year. No previous test has come close to yielding so strong results. The test was initiated by the community and the transaction fees were financed through donations, but of course the developer Dash Core Group was instrumental in monitoring all the results.
Ryan Taylor, the company’s CEO, was obviously pleased with the results and stressed that the crypto currency could easily meet the growing demand. Researchers at Arizona State University also followed the findings and concluded that Dash’s blockchain had no upper limit when it came to the number of possible transactions. Dash came to life as a hard fork of Bitcoin in 2014 and the problem of scalability, for which Bitcoin is still often criticized, was apparently well solved. Currently Dash, like the other crypto currencies, is affected by strong price fluctuations and bear market but technology is not stalling, as showcased by this stresstest.
Earn passive income with Quadency trading bot. Connect Binance account and use Quadency bot for 6 months completely free. Hurry up, this deal is not around for long!
How important is the size of the blocks?
The topic of block size is mainly related to another Bitcoin Hard Fork in the community. The discussion is mostly about whether the Bitcoin Cash network should be expanded to a size of 128MB. Currently Bitcoin Cash has a size of 32MB and can handle 5.7 million transactions per day. The new proposal would increase the scaling of the network and allow more transactions to be carried out. With this innovation, developers hope to increase the number of Bitcoin Cash purchases, as Bitcoin’s hard forks will face stiff competition.
However, the problem is that this would also increase costs. The block size of Dash is currently only 2MB, but the crypto currency still manages eight times as many transactions as Bitcoin. If the size were increased to 10MB, Dash’s network would be forty times faster than the parent chain and could probably handle 15 million transactions a day. But this is not necessary at the moment, because although Dash managed 3 million transactions during the stress test, on average only 20,000 are requested per day. According to Ryan Taylor, on particularly strong days it can be 30,000 and occasionally 200,000 transactions have already been carried out in the same period, but this is anything but the norm.
Dash’s stress test revealed the enormous scalability of the crypto currency. A total of 3 million transactions could be carried out with a block size of 2MB without any problems. This impresses not only the developers, but also the entire community.
51% attack protection
Payments network Dash (DASH) may soon implement a new, unique network feature dubbed Chainlinks that will allegedly “eliminate” the threat of a 51% attack from the protocol, once fully deployed.
ChainLocks enables transactions to be confirmed and secured as soon as the block has been processed, rather than waiting for six other blocks to be signed first. This makes it nearly impossible for miners to cause chain reorganizations; blocks, or even chains, that aren’t published can be quickly invalidated by any block confirmed with a ChainLock signature (CLSIG). It was proposed by a member of the network’s core team of developers.
Despite all of this, DASH is still getting little coverage in crypto and mainstream media
Dash is one of the main players in the privacy coin arena, along with ZCash and Monero (we won’t mention the smaller privacy coins on purpose). Both ZCash and Monero are lead by people that seem to “rank” better in the crypto community and their natural instinct to praise their projects while bashing competitors create a strong sentiment against Dash in the crypto circles.
Statements like these:
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com