Following delisting, Dash pushes back against ‘privacy coin’ label

Despite past claims, Dash insists that it’s no more private than Bitcoin

A recent tweet from Dash’s official Twitter account has invited criticism that the cryptocurrency, which once advertised its privacy features, is wilting in the face of possible regulatory scrutiny. 

On Jan. 1, the US-based Bittrex exchange announced in a tweet that it would be delisting Monero, Zcash, and Dash:

The delistings follow a similar Dec. 29 announcement last week that Bittrex would be delisting XRP following a SEC lawsuit against Ripple, prompting speculation that the exchange preemptively delisted the privacy coins in anticipation of a wider regulatory crackdown. 

In response, Dash announced in a tweet that they had “reached out to @BittrexExchange to request a meeting,” and that referring to DASH as a “privacy coin” is a misnomer:

As recently as 2017, however, archived screenshots from the Dash Foundation website advertise DASH as “the worlds first privacy centric crypto-currency.” The current Dash Foundation website instead now says DASH is “the leading payments cryptocurrency.”

In a recent tweet about the delisting DashPay CEO Ryan Taylor also minimized the currency’s privacy features:

While the seeming about-face has prompted jeers and criticism on Twitter, proponents have noted that Dash released guidance on the cryptocurrency’s privacy features in August. In a blog on the official Dash website, Taylor wrote that “regulators are concerned that exchanges may be unable to comply with KYC / AML regulations when transacting coins with privacy features,” because DASH is “often found on lists of coins with privacy enhancements.” 

However, Taylor wrote that Dash has largely been successful in convincing exchanges and regulators that Dash is not a privacy coin.

“Through a process of education, we have been effective in explaining the technology and convincing regulators that accepting Dash poses no incremental risk compared to Bitcoin.”

The clarifications about Dash’s core focus follow an announced upgrade to Dash moving to the testnet phase, an upgrade which will include DashPay, a “social crypto payments wallet.” DASH is down 3% on the day to $87.71.

Continue reading

Central Bank of Nigeria Governor Decries the Use of Parallel Exchange Rate as Citizens Switch to Crypto

The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate by some professionals in that country is unfair and unfortunate. The CBN governor says the parallel foreign exchange market only accounts for a share of the market that does not exceed 5%. He also adds […]

The post Central Bank of Nigeria Governor Decries the Use of Parallel Exchange Rate as Citizens Switch to Crypto appeared first on Bitcoin News.

Continue reading

Dash introduces protocol versioning in update

Getting closer to the testnet.

The Dash platform will be introducing protocol versioning and other new features in its latest update. 

Dash announced its fourth update over the weekend. The platform normally releases new functionalities every six weeks, so the next update is expected between October 6 and 20. 

Dash said it is adding versions of its protocol to make it easier for developers to begin transitioning to a testnet and mainnet. Previously, developers needed to wipe data on Evonet and update their platform software with each new release. The company said:

“While this approach is fine for early testing, it is not appropriate for testnet and mainnet. To handle different versions of data, nodes, and clients all working in coordination, DCG developers introduced versioning that allows for the smooth rollout of breaking changes without affecting user experience.”

Other new functionalities include document binary properties where developers now have the ability to define binary fields in a data contract, improvements in the Dash Platform Name Service such as adding a default name feature, refactoring its JavaScript library, advances in the distribution package and changes to the DAPI end points.

Continue reading

Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much Cheaper

Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much CheaperThe cost of sending a transaction over the Bitcoin network rose sharply over the past month, as the price of the top cryptocurrency climbed higher. According to latest data from Bitinfocharts, the average bitcoin (BTC) transaction fee soared by as much as 547% in the month to August 6, rising from just $1 to $6.47. […]

The post Bitcoin Transaction Fees Soar 550% in a Month, BCH, Dash Transactions Much Cheaper appeared first on Bitcoin News.

Continue reading

Dash Core Group to Release Next Update, to Launch Testnet By Yearend

Dash Core Group sets the release of its next update and says the Dash platform will still come out by the end of the year.

The Dash Core Group plans to release another update for its Dash platforms near the end of August, the company announced. The group recently came out with its third release for its newly defined process. 

New functionalities to the Dash platform are released every six weeks so the next will launch between August 25 and September 8.

As always, the most recent release means all data on Evonet has been wiped. The newest updates features document timestamping, an improved DAPI client for better code quality, usability and testability, an improved distribution package, and a platform test suite for developers to use.

Users can expect four more releases before the Dash platform enters a new phase of its product cycle. The testnet is still expected to be delivered by the end of the year.

Continue reading