Tag: Dash (DASH)

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Dash (DASH) Network Processed About 3 Million Transactions In 24 Hours In The Last Stress Test

Dash (DASH) broke a new record by processing 3,020,238 transactions in 24 hours. The event occurred on Sunday, November 11th, during the Dash network stress test. Thus, Dash blockchain managed to surpass the 2.1 million transactions achieved by Bitcoin Cash (BCH) during its latest stress test.

The stress test, which was intended to measure the transaction capacity of the Dash network, was carried out by the team of developers of the Dash (DASH) wallet, MyDashWallet, with the version 12.3.4 of the blockchain. The group aimed to achieve a maximum of five million processed transactions, but despite not having reached its goal, the results are more than three times the number of transactions processed in the last test conducted in July.

The three million transactions were achieved with an average speed of 1 block every 2 minutes. Among the mined blocks, some reached 2MB, the maximum size stipulated in Dash (DASH) network for each block, and contained more than 10,000 transactions. Given the number of operations in these blocks and the average mining time, it is estimated that the network was able to process between 60 and 80 transactions per second. That is a number that, although positive for Dash (DASH) blockchain, is still far from the 24,000 transactions per second that Visa claims to process.

Dash (DASH) Network Processed About 3 Million Transactions In 24 Hours In The Last Stress Test

Another important aspect is that the Dash network stress test was carried out with an average mining difficulty of 90M, after dropping from the 118M it had reached some eight days ago, according to BitInfoCharts.

It is important to note that the three million transactions were not the limit that those responsible for the test expected to reach. However, with this number of transactions, some blocks reached their maximum size of 2MB.

The 2MB blocks are enabled in the Dash (DASH) network since 2016, but at the moment there are already proposals to increase it. Some proposed to increase the size to 5MB, 8MB and even 10MB. However, studies assure that it is not advisable to exceed 5MB because the profitability of mining could be compromised.

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Dash (DASH), Bitcoin Cash (BCH), and Litecoin (LTC) Updated To Tackle the DoS Vulnerability Addressed by the New Bitcoin Core

Dash (DASH) team announced the launch of the new Dash Core 0.12.3.3 to tackle the Denial of Service (DoS) vulnerability addressed Tuesday by the new Bitcoin Core version. Besides Dash (DASH), the teams responsible for Bitcoin Cash (BCH) and Litecoin (LTC) were the first to announce the updates of their software clients and are urging the respective communities of miners to install them as soon as possible.

Dash (DASH) launched Dash Core 0.12.3.3 update

In the case of Dash, the announcement of the update to Dash Core 0.12.3.3, released this Wednesday, notes that it is “correction of a critical bug in the Dash Core 0.12.3.x release series” and explains that the update is related to the Bitcoin Core vulnerability, recently discovered and resolved this Tuesday with the announcement of a new release.

“A major vulnerability was recently discovered in the Bitcoin Core code base that can cause a node that receives a specially forged block with double-spending transactions to crash,” says on the Dash Forum.

Bitcoin Cash (BCH) also updated to tackle the DoS vulnerability

Bitcoin Cash (BCH) client software team, Bitcoin ABC, notified on Tuesday through its Twitter account, soon after the new Bitcoin Core update, that a new version of Bitcoin ABC will be available, correcting “an error” they did not specify.

Most probably, the mysterious “error” they were talking about was also related to the security flaw discovered by Bitcoin (BTC) community of devs and tackled with the Bitcoin Core 0.16.3 version.

Litecoin (LTC) 0.16.3 launched soon after Bitcoin Core

In the case of Litecoin (LTC), it was not necessary to clarify that the new version of its client, published shortly before midnight on Tuesday, was due to the DoS vulnerability discovered in Bitcoin Core, already corrected in the latest version of it.

Litecoin’s development team uses the same terminology in its versions as the Bitcoin Core.

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Dash (DASH) Blockchain’s Blocks Exceeding 890 Kb Are Not Profitable for DASH Mining

Researchers at the University of Arizona published a study called Block Propagation applied to the Nakamoto network. The authors of that research recommend a maximum increase in block size to 5 MB, with a capacity to use of 890 kB per block, to keep transaction commissions at 0.01 DASH per MB and to make mining profitable under the current Dash (DASH) blockchain. The study used a simulator initially intended for Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE).

This simulator was modified to assume larger blocks and be able to analyze the scalability of the Dash (DASH) network. Additionally, it was established that the systems should have a minimum of 6,000 nodes in each simulation. The study lasted long enough for a minimum of 700 blocks to be executed, the researchers said.

For the study, the authors assumed that miners extract blocks of similar sizes. The research effort focused on three block propagation protocols, namely, a traditional block propagation in which the block is fully transmitted, one in which a compact block propagation called Cor16 is made, and an extra thin block propagation called “xthin.”

Blocks with a used capacity of more than 890 kB would not be profitable for Dash (DASH) mining

“With traditional block propagation, we recommend that the code limit on block size should not be greater than 5 MB and that you should not expect a capacity throughput much greater than 890 kB per block. It should be noted that users who include a higher rate can make blocks over 890 kB profitable for mining,” said Dragan Boscovic, Nakul Chawla, and Darren Tapp, researchers at the Blockchain Laboratory at the University of Arizona.

To reach this conclusion, the researchers assumed that all transactions would be 0.01 Dash (DASH) per MB with a mining reward of 1.67 DASH.

Among other conclusions of the study, the researchers state that the maximum block sizes of Dash (DAS) could reach 6 MB and even 8 MB using the compact block propagation method. With the “xthin” block propagation method, blocks could reach a size of up to 10 MB. The authors suggest that the network could go beyond 10 MB.

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Dash (DASH) Adopted By About 100 Merchants Across Venezuela, Stated Dash Core Group CEO

Venezuela has become the second largest market for Dash (DASH) as nearly a hundred retailers in the Latin American country adopted this cryptocurrency last week, according to the Dash Core CEO’s statement on Wednesday, August 22nd. Talking on this topic for the Business Insider, Ryan Taylor, the CEO of Dash Core Group, said that the interest of businesses and consumers in DASH is growing week by week.

“We record tens of thousands of wallet downloads from the country [Venezuela] every month,” stated Ryan Taylor. “Since the beginning of the year, Venezuela became our second largest market, even ahead of China and Russia, who are of course very interested in cryptocurrencies at the moment,” Dash Core Group CEO added.

Venezuela devalued its Bolivar fiat currency by about 96 percent on August 20th and tied the replacement to its controversial Petro cryptocurrency. That triggered the renewed desire to avoid financial instability using cryptos.

Dash (DASH) adopted by about 100 retailers from Venezuela last week

However, the Bitcoin (BTC) trading volume on the P2P stock exchange platform LocalBitcoins continues to set new records every week. Eduardo Gomez, head of support at Purse.io, described this as “pure hyperinflationary despair” on the day of the changeover to the new sovereign Bolivar.

Dash (DASH) aims to facilitate this continued evasion, as Taylor implied. He also explained that big names like Subway had also signed up to accept DASH.

“We added 94 new Venezuelan merchants to DiscoverDash.com last week. That is about double the normal rate of about 50 retailers per week in recent months,” Ryan Taylor added.

Dash (DASH) had already made the headlines when its value skyrocketed, and celebrities like Max Keiser began to promote its use in the US publicly. Since the DASH reached its maximum highs of about $1,500 in December 2017, however, it has lost most of its value and currently stands at around $150.

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