Dash Plans to Implement Some SegWit2X Features
Don’t look now but Dash is making moves to possibly gain on Bitcoin. They are taking aspects of cryptos that Bitcoin rejects and are evolving through them. The governing system of Dash has voted heavily in favor of using 2 MB blocks that Bitcoin rejected. This is done as they attempt to make cryptocurrencies very simplistic in nature so users with little to no experience can purchase them. They have realized the visibility cryptos are getting at this time and are trying to get the incoming market of people with no background besides the major news they see. By making the transaction process easy, they would be able to attract people to use Dash instead of Bitcoin.
The most notable changes are:
- DIP0001 implementation (which is a 2MB block upgrade);
- Transaction fee reduction 10x (activates via DIP0001 activation);
- InstantSend vulnerability fix (activates via DIP0001 lock in);
- PrivateSend improvement which should allow user to have mixed funds available much faster;
- Various RPC changes;
- Lots of backports from Bitcoin Core and refactoring of our own legacy code which should improve performance and make code more reliable and easier to review;
- Experimental HD wallet with BIP39/BIP44 support.
Dash is also preparing the ability to scale quickly as more transactions are made. Big blocks are not necessary at this time due to the limited number of transactions but Dash believes they have the ability to scale through alternative P2P. This differs from Bitcoin’s approach which relies on off-chain growth through additions such as lightning transactions. Lightning transactions allow multiple P2P transactions to be combined into one transaction for the total amount of coins. This method has been critiqued though as it moves transactions off of the decentralized platform through the combination of transactions over time.
Dash is also differing from Bitcoin on their approach to forks. Dash is favoring a “spork” strategy that would allow for portions to be turned off if network problems exits. For example, if a miner tries to keep a whole block for themselves instead of sharing with masternodes, their block would be rejected. This allows for more regulation of miners. It will be interesting to see how this new approach to scaling a crypto will fare in the market as it further expands.