{"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:\/\/wp.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
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Rachel McIntosh\u00a0| <\/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 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 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
\nNews<\/a>\u00a0(\u00a0CryptoCurrency\u00a0<\/a>)\u00a0|
\nThursday, 09\/11\/2017 |
\n10:26\u00a0GMT<\/p>\nDash\u2019s Network Was Created for Scalability, Ease-of-Use<\/h2>\n
Suggested articles<\/h2>\n
Consensus and Master Nodes Keep Dash Running with Stability<\/h2>\n