Categories: CryptoNews

Inspired by SegWit2x, Dash Devs to Introduce Code Changes

Most cryptocurrency enthusiasts know Dash as an altcoin which does its own thing. It has very few similarities with other currencies in existence today. However, it seems its developers are working on some new features that take a page out of the SegWit2x playbook. That in itself is pretty interesting, especially considering that this fork was first canceled, then still scheduled, and now no one really knows what will happen.

New Dash Features are Coming Soon

Introducing new features to the world of Dash is always a good idea. After all, cryptocurrencies are ever-evolving creatures, and new opportunities present themselves on a regular basis. It is also pretty common to take certain aspects of other currencies and introduce them into one’s own project. Bitcoin often borrows traits from various altcoins, which has worked out quite well so far. It is only natural to see altcoins do the exact same thing.

In the case of Dash, the developers have paid close attention to Bitcoin’s SegWit2x fork. Although this fork is still scheduled to take place under different management, it is unknown when it will occur. For the time being, we will see the Dash developers integrate some of this fork’s features into their own project. It’s an interesting business decision, especially given the controversy surrounding this fork. That was mainly because of the block size increase, however, rather than anything else.

One of the features which will be coming to Dash is the 2MB block size increase. That is pretty surprising, as it doesn’t appear as if the Dash network blocks are all that full right now. Then again, it’s wise to improve the block capacity to ensure that future scalability is less of an issue. Moreover, the team hopes to reduce transaction fees by a factor of 10, which is an impressive goal. Then again, implementing DIP0001 should allow for such a drastic change without a problem.

Related Post

What’s more, Dash’s InstantSend feature will also see some changes, as there is a vulnerability currently in need of addressing. No real specifics have been provided regarding this fix at the time of writing. PrivateSend, another important Dash feature, will also be upgraded to let users have their mixed funds a lot faster. It is a smart decision, as no one likes to wait an extended period of time for mixed funds.

Perhaps the biggest change that most people will overlook is how there will be experiment Hierarchical Deterministic wallet support which includes BIP39 and BIP44 support. It is a welcome change to the Dash ecosystem, to say the very least. How all of this will play out, remains to be determined, though. It is evident the developers are looking for ways to scale quickly as more transactions occur on the network. While the number is limited and doesn’t warrant big blocks yet, it is good to have such a solution readily available when and if needed in the future.

Last but not least, it seems the Dash team is looking into “sporking” in the future. Turning specific network features off when a problem exists is the developers’ preferred approach. It also means there is a high degree of centralized control over Dash, mind you, but this approach may prove to be a valid one in the long run. All these interesting changes are set to be introduced very soon.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Top 5 Metaverse Coins With Over $1 Billion Market Cap

Following NFTs and Meme cryptocurrencies, Metaverse coins are undoubtedly the next big hype in crypto.…

2 hours ago

The Future of Eyewear is Looking Bright

The global pandemic changed many different aspects of our lives. One thing that has been…

4 hours ago

CRO Price Up 22% Amid’s New LA Arena's CRO is up over 22% today, setting a new all time for the cryptocurrency.…

7 hours ago

Top 5 DeFi Coins to Watch for 2022

The DeFi sector of cryptocurrency is valued at over $168 billion, with over $10 billion…

18 hours ago

AMC CEO Announces Plans to Accept Shiba Inu via Bitpay in the Next 2-3 Months

In a twitter post yesterday, Adam Aron, CEO of AMC Theaters, announced the company's plans…

22 hours ago

Loopring and Gamestop – What Is Up with These Two?

Loopring and Gamestop are two entities that, at first glance, seem very different. One is…

23 hours ago

This website uses cookies.