DASH to Effectuate InstantSend Transactions by Default
By Rafał - 2018-12-06
Bradley Zastrow, Head of Dash Core Business Development said:
Having default and inexpensive InstantSend would streamline certain integration conversations and simplify how we communicate our value proposition to individuals, businesses, and developers: It creates a clean and powerful message about our focus in the payments space.
This shows that Dash is striving hard to establish itself as the best choice in the crypto payment space.
Majority of the cryptocurrency related businesses require at least one blockchain confirmation of any particular cryptocurrency to secure and trust a particular payment which takes at least 10 minutes of time. On the other hand, InstantSend transactions are secured and trusted instantly, thus making them significantly important in the crypto payments space.“LLMQ-based ChainLocks” which acts as a barrier for 51% mining attacks and “InstantSend transactions by default” combined will surely make Dash the fastest and the most secure cryptocurrency in the world.Udjinm6, Lead Developer at Dash Core said:
No transaction is 100% safe, even a mined one. Normal transactions can be easily double-spent in general. InstantSend-locked transactions are extremely hard to double-spend, you’d have to override 24+ blocks to do this (locks are held for 24 blocks). But that would require an enormous amount of work and would mean a catastrophic event for the network, i.e. it would be clear that there is a sustained 51% attack going on. Luckily, we are the largest X11 network out there and miners have no incentive to destroy the major network this way. This risk is real for minor networks running on the same algorithm as a major one, however.Thus, the transactions with this kind of feature are secure, except for a major attack on the whole network which is practically impossible considering the size of the Dash network.For more information on InstantSend transactions and Dash Core Release v0.13.0, visit:https://blog.dash.org/product-brief-dash-core-release-v0-13-0-5d7fddffb7efhttps://www.dash.org/news/